Gold standard?

[robster970]

Interesting response from a Fed economist.

http://www.stlouisfed.org/on-the-ec...ce=Twitter&utm_medium=SM&utm_campaign=Twitter

 

[Atilla]

Interesting response from a Fed economist.

http://www.stlouisfed.org/on-the-ec...ce=Twitter&utm_medium=SM&utm_campaign=Twitter

I'm beginning to think no one really knows what's going on these days and we are more into innovative discovery period of economics.

Trillions printed and we are talking how to prevent deflation in some areas. Don't understand the QE translation mechanism as I would have expected dollops of inflation in all areas.

Asset inflation varies considerably all over continents, regions and even locally within nations; example being price of houses in the UK.

Gold is a highly speculative punt and much ado about nothing really.

Land is far more productive and better value in store of wealth. Less risk and sure winner imho.

 

[counter_violent]

Interesting response from a Fed economist.

http://www.stlouisfed.org/on-the-ec...ce=Twitter&utm_medium=SM&utm_campaign=Twitter

Price stability evidently depends less on whether money is “created out of thin air” and more on the credibility of the monetary authority to manage the economy’s money supply in a responsible manner.

Interesting dollar value timeline which illustrates perfectly well that inflation is theft.
http://mykindred.com/cloud/TX/Documents/dollar/

How are we ever going to solve the problem of bad government...I despair !

 

[counter_violent]

I'm beginning to think no one really knows what's going on these days and we are more into innovative discovery period of economics.

The govts know exactly what they are doing. They are robbing you and everyone else of their wealth by deliberately reducing your currency value and purchasing power.

Trillions printed and we are talking how to prevent deflation in some areas. Don't understand the QE translation mechanism as I would have expected dollops of inflation in all areas.

Your not alone in not understanding that translation mechanism. The guy who thought it up is extremely pissed off cos govts cherry picked the bits they liked and dismissed the rest....the checks and balances bit.

http://www.bbc.co.uk/news/business-24614016

Asset inflation varies considerably all over continents, regions and even locally within nations; example being price of houses in the UK.

Gold is a highly speculative punt and much ado about nothing really.

Land is far more productive and better value in store of wealth. Less risk and sure winner imho.

FFS don't get me started on all this

 

[Atilla]

FFS don't get me started on all this

Thanks CV, that article along with Prof Werner makes logical sense.

Adding to the total mind bending theory of economics that's being practiced. So when QE or non-QE is finally stopped by the Fed I'd expect to see a game of musical chairs starting again.

By that I mean a little like a pack of hyenas stalking the weakest wildebeest, the finance industry will try and pick out and subsequently hound the weakest bank down.

Can't wait for the start of the bank-run then. Incidentally, quarter-4, (October :idea historically is when most parties start. Now, wondering if ending QE in September was well thought out in the first place :whistling

 

[counter_violent]

Thanks CV, that article along with Prof Werner makes logical sense.

Adding to the total mind bending theory of economics that's being practiced. So when QE or non-QE is finally stopped by the Fed I'd expect to see a game of musical chairs starting again.

By that I mean a little like a pack of hyenas stalking the weakest wildebeest, the finance industry will try and pick out and subsequently hound the weakest bank down.

Can't wait for the start of the bank-run then. Incidentally, quarter-4, (October :idea historically is when most parties start. Now, wondering if ending QE in September was well thought out in the first place :whistling

Did you check the other link?

CPI, Dollar Value and Inflation figs. Quite unbelievable trajectories.

I'm pretty sure that Corporate Capitalism will end in disaster. Dissenting voices are all out there but still contained (for now).
A single event or cluster of events could unleash the backlash.

 

[Atilla]

Did you check the other link?

CPI, Dollar Value and Inflation figs. Quite unbelievable trajectories.

I'm pretty sure that Corporate Capitalism will end in disaster. Dissenting voices are all out there but still contained (for now).
A single event or cluster of events could unleash the backlash.

Yes I have however, can't get too excited about it. "It's life as we know it Jim" comes to mind. May become more of an issue when I reach retirement and watch my savings get gobbled up by inflation.

Large periods of those inflation and debt were to do with wars and destruction. I'm of the opinion we'll have less of those as we evolve.

Moreover, having reached saturation with all kinds of capitalist shyte we don't need, but think we want - I'm of the optimistic opinion, tomorrows generation will exist at a higher level of awareness to us.

There was interesting series on Telly about men who make us spend more. This consumer based society will have to stop. We'll all go back to stitching the holes in our socks than buying new ones...

In general, I think we will move towards the beauty of existence-ism in harmony rather than consumer-ism in war and competition. At least that's my grand idea anyway.


On another note I read the bit coin doing the rounds in London. http://www.thestage.co.uk/news/2014/02/ticket-agency-london-theatre-direct-use-bitcoins/

Evolution of money into the digital age... :idea:

 

[Sigma-D]

The Planet is Too Big to Fail. Or is it?

 

[Atilla]

The Planet is Too Big to Fail. Or is it?

Man is too big to fail. Planets fail all the time.

 

[Sigma-D]

Man is too big to fail. Planets fail all the time.

Go on then. Name one.

 

[Atilla]

Go on then. Name one.

You ever heard of google?

 

[Sigma-D]

You ever heard of google?

There was a planet Google and it failed?

No, don't think so.

Seriously, what planet has ever 'failed'?



















{Pluto I suppose is a candidate as it failed to hold onto its premier league Planet status a few years ago, but apart from that, no, can't think of any planet that has failed}

 

[Atilla]

There was a planet Google and it failed?

No, don't think so.

Seriously, what planet has ever 'failed'?

 

[Sigma-D]

They're still going.

Never trust an Alsatian.

 

[counter_violent]

Robster started this thread to get me going Nice one m8.

 

[robster970]

Robster started this thread to get me going Nice one m8.

Pleasure amigo.

To answer Sigma - Alderan, home of Princess Leia. Destroyed by the Empire. Here's a picture of her in a golden pvc bikini.

 

[Sigma-D]

Now I know why he was called Hand Solo.









I have got that right, haven't I?

 

[darktone]

Interesting response from a Fed economist.

http://www.stlouisfed.org/on-the-ec...ce=Twitter&utm_medium=SM&utm_campaign=Twitter

Interesting thing is money eh rob

This historical example demonstrates that the gold standard is no guarantee of price stability.

Yep, they always find a way to fraction it up.

Moreover, the fact that price inflation in the U.S. has remained low and stable over the past 30 years demonstrates that the gold standard is not necessary for price stability.

According to CVs link, the $ has lost around 65% its value in that time.
Hard to justify that number anyway you look at it. Doesnt consider the interest side either.

Price stability evidently depends less on whether money is “created out of thin air” and more on the credibility of the monetary authority to manage the economy’s money supply in a responsible manner.

That pretty much it.
Commercial banks, not CBs (as alluded to in the answer) control the supply side of the money supply, do a pretty crap job (for the us the transactors), charge us interest for the privilege.

Luvly jubbly