This isn't fox saying so, it's them bringing to light what forbes is saying, so don't give me the garbage that "fox is biased. You can't use them".
http://www.foxbusiness.com/economy-policy/2014/06/06/forbes-gold-fix-for-us-economy/#content
Hey we finally agree on something lol. And yes Forbes is mostly unbiased.
We really do need a return to gold standard, we have nothing backing our pieces of paper. Stupid Nixon.
Forbes doesn't write the articles himself, there not even check they him first or his lowers. Like I said they may be biased on a few things, but leaving the gold standard wasn't a good choice. Now we have nothing but agreements with other countries that give any value to our currency.
Gold has value across the centuries man. Every country sees it as a valued resource because its used in so many electronics. It actually has real value. Unlike our green paper.
But our green herbs be holding up value...
HAYOOOOOo
Oh jeeze, not this again.
This is idiotic. We got rid of the Gold Standard for a reason. Simply go to Wikipedia and see some of the disadvantages:
-The gold standard acts as a limit on economic growth. "As an economy's productive capacity grows, then so should its money supply. Because a gold standard requires that money be backed in the metal, then the scarcity of the metal constrains the ability of the economy to produce more capital and grow."
-Mainstream economists believe that economic recessions can be largely mitigated by increasing the money supply during economic downturns.[65] A gold standard means that the money supply would be determined by the gold supply and hence monetary policy could no longer be used to stabilize the economy.[66] The gold standard is often blamed for prolonging the Great Depression, as under the gold standard, central banks could not expand credit at a fast enough rate to offset deflationary forces.[67]
-Although the gold standard brings long-run price stability, it is historically associated with high short-run price volatility.[51][68] It has been argued by Schwartz, among others, that instability in short-term price levels can lead to financial instability as lenders and borrowers become uncertain about the value of debt.
If the Gold Standard is so great, why does not one country use it? Using a shiny rock as the standard of value sounds just as idiotic as it is.
Again my main rebuttal to this.
If it's so great and guaranteed how come all the billionaires are not involved in this.
Quote from: Taysby on June 12, 2014, 02:46:45 PM
The rich people do have gold. And quite a bit of it too.
Lol. I agree. But it's on jewelry, watches, art, and similar. Who has stack and stack of money vested in karatbars.com.
Quote from: Rass on June 12, 2014, 02:57:57 PM
Quote from: Taysby on June 12, 2014, 02:46:45 PM
The rich people do have gold. And quite a bit of it too.
Lol. I agree. But it's on jewelry, watches, art, and similar. Who has stack and stack of money vested in karatbars.com.
You'd be surprised lol. Gates, buffet, Forbes, rothchilds all have vested in gold bars. As do most developed nations.
Fort Knox is pretty nee