In response to:

Let's Give the Fed Some Competition

purple_persuader Wrote: Apr 04, 2012 10:16 AM
You should give your logic a little more scrutiny. You gave your argument away with this... is to effectively manipulate the price of gold in a ridiculous upward spiral...Gold (and silver..and other precious metals) being currency their is no price for it, the price is x amount of gold. As for the finite amount fallacy 1) Printed tokens is money? No it is a call on future earnings by whom?..Us. It's a tax on our future productivity, but really the misallocation that occurs as a result of manipulated currency will damage future productivity. 2) OK..let the value of gold in relation to goods and services go higher, then every bit of gold has more buying power, and thus it being finite is meaningless.
Barbara1247 Wrote: Apr 04, 2012 11:00 AM
This is not a very persuasive argument.
purple_persuader Wrote: Apr 04, 2012 10:17 AM
Your ignorance of money and economics is typical of Americans, and shows why we are closer every day to disaster.

Pssst. Want to buy some Stossels? They’re my own currency with my face on them.

Why should you trust them?

Because I promise to redeem them for gold. And I’m reliable. I have money in the bank and a job that brings in more than I spend.

By contrast, the politicians who back American currency run an unsustainable deficit.

The Federal Reserve prints so much money that since it opened its doors in 1914, the dollar has lost more than 90 percent of its value.

OK, I won’t really sell Stossels. Americans get jailed for offering alternative currencies. The government insists...