Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
Member Login
Posted: 11/23/2003 11:32:00 AM EDT
What do you think of the system of money we have in the United States?
Link Posted: 11/23/2003 11:34:55 AM EDT
i like it
Link Posted: 11/23/2003 11:35:44 AM EDT
Great, as long as the central bank has the discipline not to debase the currency. It's flexible for adjusting to counter-cyclical changes in the business cycle.

It'd be nice if it wasn't in control of a private bank, but the government can't be trusted either.
Link Posted: 11/23/2003 11:35:45 AM EDT
How do you mean?

I think it is strong and reliable. And well, I just the way it feels when I sleep on a big pile of it.
Link Posted: 11/23/2003 11:37:38 AM EDT

Originally Posted By atomicferret:
How do you mean?




How it is not backed by gold, the Federal Reserve system, etc.
Link Posted: 11/23/2003 11:51:22 AM EDT
I don't like it. It doesn't give me enough.

CW
Link Posted: 11/23/2003 11:57:16 AM EDT
the more of it i have, the better
Link Posted: 11/23/2003 11:57:47 AM EDT

Originally Posted By Sniper_Wolfe:

Originally Posted By atomicferret:
How do you mean?




How it is not backed by gold, the Federal Reserve system, etc.



If it's good for the Federal Reserve, it MUST BE A GOOD THING. BWAhahaha.
Link Posted: 11/23/2003 12:13:13 PM EDT
[Last Edit: 11/23/2003 12:15:12 PM EDT by TNFrank]
Our money went off the gold standard in the 30's. For what it's worth our money isn't worth the paper it's printed on. It's only by agreement that we accept it as payment for "things" that we want to buy with it. Saw it on the History Ch., it was a very interesting show. The money that is shown on your bank account is only a number in a computer, it's not really IN the bank, just raw data in a system of computers that can be transfered from one account to another. Only a matter of time until we go to a paperless system with debit cards or (read the book of Revolations) a chip in your hand or forehead. You'll buy something at the local Wal-Mart and just scan your hand to pay, when it's pay day money will be deposited into an account tied to the number in the chip in your hand. Mess up with the government and bang, you won't have a dime. Of course I'll be living in the back woods off of the land when this is all going down. No chips for me thank you.
Link Posted: 11/23/2003 12:15:56 PM EDT

Originally Posted By Sniper_Wolfe:
What do you think of the system of money we have in the United States?



I need more of it!

Link Posted: 11/23/2003 12:16:37 PM EDT
Extremely flawed. Our money is only valuable because we all agree to agree that it has worth.

Gold standard would be better.
Link Posted: 11/23/2003 12:20:49 PM EDT

Originally Posted By AR15fan:
Extremely flawed. Our money is only valuable because we all agree to agree that it has worth.

Gold standard would be better.



Then wouldn't we all be agreeing to agree that gold has worth that is expressed in dollars?


Link Posted: 11/23/2003 12:29:55 PM EDT

Originally Posted By AR15fan:
Extremely flawed. Our money is only valuable because we all agree to agree that it has worth.

Gold standard would be better.



And what is the intinsic value of gold?

That's right gold is only worth what people are willing to pay for it. Kinda like money is now.
Link Posted: 11/23/2003 12:33:35 PM EDT
[Last Edit: 11/23/2003 12:34:22 PM EDT by AR15fan]

Originally Posted By wetidlerjr:

Originally Posted By AR15fan:
Extremely flawed. Our money is only valuable because we all agree to agree that it has worth.

Gold standard would be better.



Then wouldn't we all be agreeing to agree that gold has worth that is expressed in dollars?



Yes, which is why I said Gold would be better, not Gold would be ideal...

Gold is only valuable becuase it is somewhat rare, somewhat difficult to extract from the earth, has industrial applications, and we all agree it has value. So it's better than Federal Reserve Notes, but only slightly.
Link Posted: 11/23/2003 12:35:28 PM EDT
The gold standard that are money WAS based on was too fragile. All a country would have to do to de-value the dollar was dump a butt load of gold on the market and the price of gold would drop and the dollar would follow. While it's more convient to use paper money I think the barter system is more fun, kind of like when you go to a gun show with stuff to sell or trade and you run into someone with something you want. It's a more personel way to do business then just ploping down a bunch of cash.
Link Posted: 11/23/2003 12:35:54 PM EDT

Originally Posted By AR15fan:

Originally Posted By wetidlerjr:

Originally Posted By AR15fan:
Extremely flawed. Our money is only valuable because we all agree to agree that it has worth.

Gold standard would be better.



Then wouldn't we all be agreeing to agree that gold has worth that is expressed in dollars?



Yes, which is why I said Gold would be better, not Gold would be ideal...

Gold is only valuable becuase it is somewhat rare, somewhat difficult to extract from the earth, has industrial applications, and we all agree it has value. So it's better than Federal Reserve Notes, but only slightly.



What would, in your opinion, be ideal?


Link Posted: 11/23/2003 12:36:11 PM EDT

Originally Posted By OLY-M4gery:
And what is the intinsic value of gold?




Rarity, beauty, industrial/manufacturing (maluable, doesnt corrode easily, conducts electricity well)
Link Posted: 11/23/2003 12:41:43 PM EDT
Gold is also heavy and doesn't carry well in the pocket. It's eaiser to carry $1000 in paper bills then in gold. It's eaiser still to carry a debit card and if you want the eaisest way to carry money embed a computer chip in your hand. Of course we could put a nice little tracking device in the chip while we're at it, just incase you get kidnapped so we could find you. At least that what they'll say it's for. I vote for Barter, it's a universal way to get things.
Link Posted: 11/23/2003 12:53:22 PM EDT
Gold: has intrinsic value of technical and artistic usefulness, easily evaluated for purity/quantity, has a physically limited supply, people tend to want it for what it is and what it represents.

Gold certificate dollar: represents a quantity of actual gold, simplifying transactions, may be exchanged for real thing on demand.

Paper (modern) dollar: has no intrinsic value, is not durable, no inherent limitation in supply (gov't can print more, others can make adequate duplicates), wanted only for what it represents, value is what two people agree it represents.

Virtual (digital) dollar: number in a computer, has no intrinsic existance, is transient, quantity controlled only by frequent auditing, amounts to verbal agreement of exchange of wealth.

Society is nearly cashless now. Most cash is drawn from ATMs just before use, allowing virtual dollars brief existance in paper dollar applications, and then returned to the ATM to complete the virtual dollar transaction.

How do I like our monetary system? WHAT monetary system? There is no money. Other than a few dollars in your pocket or under your mattress, you have no money. We now run on computer-facilitated verbal agreements: "If I had $5, I'd give it to you, so let's just agree verbally that my bank should give you my $5 that it would otherwise owe me on demand." Paper money represented real things, available on demand and stored for your convenience. Now we have byte money representing paper money, available on demand and stored for your convenience...but that paper money in turn represents nothing.

With gold/silver/whatever coin, when the music stopped you at least had some useful metals in known quantities. Now when the music stops, you have a long number useful for nothing.
Link Posted: 11/23/2003 1:06:26 PM EDT

Originally Posted By AR15fan:

Originally Posted By OLY-M4gery:
And what is the intinsic value of gold?




Rarity, beauty, industrial/manufacturing (maluable, doesnt corrode easily, conducts electricity well)



Rare? not hardly, it isn't common. Next you'll be telling me diamonds are rare.

Beauty, really so it is desirable to have based on a subjective desire.

Gold is worth what it is worth because people want it. It's like a house in CA vs an identical house in MS. if they are both the same, plan, utilities, lot size etc. They cost exactly the same right? Of course not. Gold is worth what people are willing to pay for it.

Just like money. Gold is worth what people say it is worth. Money is worth waht people say it is worth.
Link Posted: 11/23/2003 1:29:22 PM EDT
It's only valuable because we believe it's valuable.

It works just like Bernoulli's Principle: if everyone on the plane doesn't firmly believe that the slightly larger underside of the wings creates lift, the plane will plummet to earth.
Link Posted: 11/23/2003 2:10:20 PM EDT
What is it to think about?......More Money = More Power.


...and I like it.


Link Posted: 11/23/2003 2:19:55 PM EDT
[Last Edit: 11/23/2003 2:26:56 PM EDT by TNFrank]
Actually the government doesn't print our money the "Federal Reserve" (which is a private organazation)prints our money and charges the U.S. government for each and every dollar that it prints. So you see, the more money the Fed. prints the more debt the government owns which is passed on to, guess who, yep, you and me. Kennedy(JFK, not the asshole Ted) wanted to do away with the Fed. Reserve and have the government print it's own money but as we all know he was killed in Dallas and never did get his plans for this into actions.
http://65.40.245.240/frb/page01.htm
http://www.wealth4freedom.com/truth/3/powerfortress.htm
http://www.house.gov/paul/tst/tst2002/tst061002.htm
http://www.etherzone.com/2003/stang082203.shtml
Link Posted: 11/23/2003 2:22:53 PM EDT

Originally Posted By Jarhead_22:
It's only valuable because we believe it's valuable.



It works just like Bernoulli's Principle: if everyone on the plane doesn't firmly believe that the slightly larger underside of the wings creates lift, the plane will plummet to earth.

I think you got something wrong in your post
Link Posted: 11/23/2003 3:04:22 PM EDT
The "international" monatary exchanges are one of the most lucrative ways of making $cash$, the dollar itself is worthless paper.
Link Posted: 11/23/2003 3:27:33 PM EDT
System, there is no system. Our money isn't worth the squat! It isn't worth the paper it's printed on. If the American people knew how it really works, there would be armed revolt in the morning!


We just agree to what we think it's worth.



Kind of like the stock market was just a few years ago. Well, we THOUGHT it was worth this... so sorry you lost your ASS !


And the same could happen tomorrow with currency.


Link Posted: 11/23/2003 8:25:13 PM EDT

Originally Posted By danonly:

Originally Posted By Jarhead_22:
It's only valuable because we believe it's valuable.



It works just like Bernoulli's Principle: if everyone on the plane doesn't firmly believe that the slightly larger underside of the wings creates lift, the plane will plummet to earth.

I think you got something wrong in your post


You're absolutely right. I got that upside down, didn't I?
Top Top