The US is off the gold standard, the dollar is still an IOU. - Page 3 - Politics Forum.org | PoFo

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#14961355
@Victoribus Spolia,

I'm not sure what I'm supposed to address. I was describing fiat currency and don't see that you disagreed so much as thought it was all bad coz big gubmint bad, gold good etc. Opinion noted ..yawn. I've no reason to think the dollar or the pound will collapse, but think the euro might for reasons having nothing to do with gold or oil. The currency where I live is neither pegged to the dollar nor backed by oil, and was forced off the gold standard about 90 years ago by recurrent deflations and speculative attacks .
#14961402
SueDeNîmes wrote:@Victoribus Spolia,

I'm not sure what I'm supposed to address. I was describing fiat currency and don't see that you disagreed so much as thought it was all bad coz big gubmint bad, gold good etc. Opinion noted ..yawn. I've no reason to think the dollar or the pound will collapse, but think the euro might for reasons having nothing to do with gold or oil. The currency where I live is neither pegged to the dollar nor backed by oil, and was forced off the gold standard about 90 years ago by recurrent deflations and speculative attacks .

Some people are so blinded by their ideology that they can't see truth.
People who have been infected with the gold bug are in this group.
We have a few of them here.
Another such group is Libertarians. We have some of them also.

However, I have been bitten by the MMT bug and I also am sure I'm right on this.
So, who am I to judge?
#14961495
SueDeNîmes wrote:I'm not sure what I'm supposed to address. I was describing fiat currency and don't see that you disagreed so much as thought it was all bad coz big gubmint bad, gold good etc. Opinion noted


This is called a dismissal, not an argument.


Steve_American wrote:Some people are so blinded by their ideology that they can't see truth.
People who have been infected with the gold bug are in this group.
We have a few of them here.
Another such group is Libertarians. We have some of them also.


Come at me Bro.
#14961636
Victoribus Spolia wrote:Come at me Bro.


Why would I do that?
I know that we disagree.
I know that you can't convince me that having the world go back onto the gold standard is a good idea.
I know that I can't convince you that fiat money does not cause problems in and of itself.
I know that inflation has not been a problem for 40 years and I think it will not be in the future until there are actual shortages of real resources, like when OPEC raised the price of oil in 1973 because the West backed Israel in the Yam Kippur War.
I know that the next Recession will come pretty soon, and it will be caused by consumer debt not Gov. debt. At the same time the stock market will crash too.
Etc.
Because we disagree and neither is willing to change, I see no point in arguing with you.

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