View Single Post
Old 03-08-2011, 02:42 PM   #16
joe
College star
 
joe's Avatar
 
Join Date: Jan 2007
Posts: 4,146
joe is considered somewhat cooljoe is considered somewhat cool
Default Re: What America was built on, Vs what it's been replaced with.

Quote:
Originally Posted by Lebowsky
The price of gold can be as erratic any good subject to international speculation. It is indeed rising steadily, but most economists agree that it is due to a growing bubble that's likely to burst in the short/middle term. Imagine the consequences that would have in your economy if the gold standard were active. There are lots of other strong reasons against the gold standard, while the handfun of arguments in its favour were probably valid in the past, when national economies were small compared to the present ones, the financial system wasn't the huge, multi-headed beast it is nowadays, capitals weren't as mobile as they are today and the world wasn't as gobalized.

We could argue who and how robs people of their wealth, but I won't get into that.

I don't believe gold is in a bubble at all. Gold's rise in price is a response to the growing weakness of the dollar, IMO. Gold, being stable, is a good inflation hedge.

But ya I don't want to get into it either, I actually kinda hate conflict but I'm always debating with people about economics. Ha. I tell myself to stop taking it so seriously... but then I keep studying the economy and I end up making the rounds, writing/talking about the economy as often as I can.
joe is offline   Reply With Quote