Since 1997, you’ve been coming to BarnesandNoble.com to discuss everything from Stephen King to writing to Harry Potter. You’ve made our site more than a place to discover your next book: you’ve made it a community. But like all things internet, BN.com is growing and changing. We've said goodbye to our community message boards—but that doesn’t mean we won’t still be a place for adventurous readers to connect and discover.

Now, you can explore the most exciting new titles (and remember the classics) at the Barnes & Noble Book Blog. Check out conversations with authors like Jeff VanderMeer and Gary Shteyngart at the B&N Review, and browse write-ups of the best in literary fiction. Come to our Facebook page to weigh in on what it means to be a book nerd. Browse digital deals on the NOOK blog, tweet about books with us,or self-publish your latest novella with NOOK Press. And for those of you looking for support for your NOOK, the NOOK Support Forums will still be here.

We will continue to provide you with books that make you turn pages well past midnight, discover new worlds, and reunite with old friends. And we hope that you’ll continue to tell us how you’re doing, what you’re reading, and what books mean to you.

Reply
Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

A return to the gold standard?

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 

"Over the weekend of November 6-7, 2010, World Bank president, Robert Zoellick , proposed in a column written for the Financial Times that the global economy once more be linked to gold as an anchor to help maintain currency stability and reduce inflationary expectations in international markets.

 

A few days earlier, on November 1, Financial Times columnist, Martin Wolf, had written a piece precisely asking, "Could the World Go Back to a the Gold Standard?" Wolf pointed out, "It is not hard to understand the attractions of a gold standard. Money is a social convention. The advantage of a link to gold (or some other commodity) is that the value of money would apparently be free from manipulation by the government. The aim, then, would be to 'de-politicize' money." "

 

http://www.thedailybell.com/1510/Richard-Ebeling-A-Return-to-the-Gold-Standard.html

 

Chad

 

 

Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

Fort Knox

[ Edited ]

In addition:

 

When I first heard about Ft. Knox, I thought it was stored wealth of the U.S. which did not belong to the army necessarily, but to the people of the United States. Now it's difficult to imagine the U.S. without Ft. Knox- it's almost become an icon. Moreover, Nations need to have something like Ft. Knox- some kind of stored wealth which gives the nation some luster, but something we wouldn't want to use. That is, we wouldn't want to dip into the gold at any time. I also don't necessarily see Ft Knox as evidence that we were controlled by a military, or otherwise. I think it is fact that governments control an "economy"-  the limits of control are always in dispute.

 

Chad

 

PS- "Westward" expansion was an issue of the 1800's.  

Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

Bi-metallism

Also interesting: the populist party of the late 1800's supported a bi-metallic standard, that is, money based in silver and gold. The silver could be compared to modern-day Obamulus money. The silver was viewed by many as an economic stimulus that would solve deflation problems. Supporters of the gold standard won the election and the poor populist party was no more....

 

Chad

Distinguished Bibliophile
TiggerBear
Posts: 9,489
Registered: ‎02-12-2008
0 Kudos

Re: A return to the gold standard?

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 

Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

Re: A return to the gold standard?


TiggerBear wrote:

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 


I knew that some of the gold was actually with the federal reserve. Silver is also scattered in different places. There was a recession before 9/11- I think. I never check gold prices:smileyvery-happy: I'm just waiting for noncounterfeitable ben franklins like a true- blooded American.

 

The standards may be a better system of accounting. I could see politics surrounding the addition of another precious metal to the standard when the economy needs a boost, or when it needs more flexibility, like in the late 1800's. Maybe the standard would depoliticize money in one way, but not in the way I just mentioned.There are also purity issues....

 

Chad 

 

 

 

Distinguished Bibliophile
TiggerBear
Posts: 9,489
Registered: ‎02-12-2008
0 Kudos

Re: A return to the gold standard?

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 


I knew that some of the gold was actually with the federal reserve. Silver is also scattered in different places. There was a recession before 9/11- I think. I never check gold prices:smileyvery-happy: I'm just waiting for noncounterfeitable ben franklins like a true- blooded American.

 

The standards may be a better system of accounting. I could see politics surrounding the addition of another precious metal to the standard when the economy needs a boost, or when it needs more flexibility, like in the late 1800's. Maybe the standard would depoliticize money in one way, but not in the way I just mentioned.There are also purity issues....

 

Chad 

 

 

 


Ah well it's on my radar due to a chart we keep on stocks, bonds, US debt, Gold, International debt, ect..  Gold the only thing since 2000 that's stayed on the green every week.

 

 

Me I'm waiting on watching to see what the braile readable currency notes look like. They should be hitting circulation this year.

 

Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

Re: A return to the gold standard?


TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 


I knew that some of the gold was actually with the federal reserve. Silver is also scattered in different places. There was a recession before 9/11- I think. I never check gold prices:smileyvery-happy: I'm just waiting for noncounterfeitable ben franklins like a true- blooded American.

 

The standards may be a better system of accounting. I could see politics surrounding the addition of another precious metal to the standard when the economy needs a boost, or when it needs more flexibility, like in the late 1800's. Maybe the standard would depoliticize money in one way, but not in the way I just mentioned.There are also purity issues....

 

Chad 

 

 

 


Ah well it's on my radar due to a chart we keep on stocks, bonds, US debt, Gold, International debt, ect..  Gold the only thing since 2000 that's stayed on the green every week.

 

 

Me I'm waiting on watching to see what the braile readable currency notes look like. They should be hitting circulation this year.

 


Is there an optimum size to an economy though? Sometimes I feel that Wall Street should have its own currency....

 

Chad

Distinguished Bibliophile
TiggerBear
Posts: 9,489
Registered: ‎02-12-2008
0 Kudos

Re: A return to the gold standard?

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 


I knew that some of the gold was actually with the federal reserve. Silver is also scattered in different places. There was a recession before 9/11- I think. I never check gold prices:smileyvery-happy: I'm just waiting for noncounterfeitable ben franklins like a true- blooded American.

 

The standards may be a better system of accounting. I could see politics surrounding the addition of another precious metal to the standard when the economy needs a boost, or when it needs more flexibility, like in the late 1800's. Maybe the standard would depoliticize money in one way, but not in the way I just mentioned.There are also purity issues....

 

Chad 

 

 

 


Ah well it's on my radar due to a chart we keep on stocks, bonds, US debt, Gold, International debt, ect..  Gold the only thing since 2000 that's stayed on the green every week.

 

 

Me I'm waiting on watching to see what the braile readable currency notes look like. They should be hitting circulation this year.

 


Is there an optimum size to an economy though? Sometimes I feel that Wall Street should have its own currency....

 

Chad


(shaking head)

 

Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

Re: A return to the gold standard?


TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 


I knew that some of the gold was actually with the federal reserve. Silver is also scattered in different places. There was a recession before 9/11- I think. I never check gold prices:smileyvery-happy: I'm just waiting for noncounterfeitable ben franklins like a true- blooded American.

 

The standards may be a better system of accounting. I could see politics surrounding the addition of another precious metal to the standard when the economy needs a boost, or when it needs more flexibility, like in the late 1800's. Maybe the standard would depoliticize money in one way, but not in the way I just mentioned.There are also purity issues....

 

Chad 

 

 

 


Ah well it's on my radar due to a chart we keep on stocks, bonds, US debt, Gold, International debt, ect..  Gold the only thing since 2000 that's stayed on the green every week.

 

 

Me I'm waiting on watching to see what the braile readable currency notes look like. They should be hitting circulation this year.

 


Is there an optimum size to an economy though? Sometimes I feel that Wall Street should have its own currency....

 

Chad


(shaking head)

 


what? The stock market makes money for itself, not the entire western world. Why should I be dragged down in bad investments?

 

chad

Distinguished Bibliophile
TiggerBear
Posts: 9,489
Registered: ‎02-12-2008
0 Kudos

Re: A return to the gold standard?

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 


I knew that some of the gold was actually with the federal reserve. Silver is also scattered in different places. There was a recession before 9/11- I think. I never check gold prices:smileyvery-happy: I'm just waiting for noncounterfeitable ben franklins like a true- blooded American.

 

The standards may be a better system of accounting. I could see politics surrounding the addition of another precious metal to the standard when the economy needs a boost, or when it needs more flexibility, like in the late 1800's. Maybe the standard would depoliticize money in one way, but not in the way I just mentioned.There are also purity issues....

 

Chad 

 

 

 


Ah well it's on my radar due to a chart we keep on stocks, bonds, US debt, Gold, International debt, ect..  Gold the only thing since 2000 that's stayed on the green every week.

 

 

Me I'm waiting on watching to see what the braile readable currency notes look like. They should be hitting circulation this year.

 


Is there an optimum size to an economy though? Sometimes I feel that Wall Street should have its own currency....

 

Chad


(shaking head)

 


what? The stock market makes money for itself, not the entire western world. Why should I be dragged down in bad investments?

 

chad


 

Play in a different market, diversify, don't sell your stocks......

 

 

Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

Re: A return to the gold standard?


TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 


I knew that some of the gold was actually with the federal reserve. Silver is also scattered in different places. There was a recession before 9/11- I think. I never check gold prices:smileyvery-happy: I'm just waiting for noncounterfeitable ben franklins like a true- blooded American.

 

The standards may be a better system of accounting. I could see politics surrounding the addition of another precious metal to the standard when the economy needs a boost, or when it needs more flexibility, like in the late 1800's. Maybe the standard would depoliticize money in one way, but not in the way I just mentioned.There are also purity issues....

 

Chad 

 

 

 


Ah well it's on my radar due to a chart we keep on stocks, bonds, US debt, Gold, International debt, ect..  Gold the only thing since 2000 that's stayed on the green every week.

 

 

Me I'm waiting on watching to see what the braile readable currency notes look like. They should be hitting circulation this year.

 


Is there an optimum size to an economy though? Sometimes I feel that Wall Street should have its own currency....

 

Chad


(shaking head)

 


what? The stock market makes money for itself, not the entire western world. Why should I be dragged down in bad investments?

 

chad


 

Play in a different market, diversify, don't sell your stocks......

 

 


I agree. But after the stock market crash, people once again screamed for more government  regulation in business after restrictions were gradually eased- I'm thinking of banking and insurance, in particular, but also in the stock market. Can we make "wall street" a separate economy in order to hold it more accountable for its actions? And would a separate economy with its own currency possibly prevent future economic meltdowns which seemed to be a natural occurrence as we gradually left the gold standard?

 

Supporters of the gold standard cite accountability as one of its assets. We're also putting people away for trading vilolations, I might add.

 

Chad  

Distinguished Bibliophile
TiggerBear
Posts: 9,489
Registered: ‎02-12-2008
0 Kudos

Re: A return to the gold standard?

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 


I knew that some of the gold was actually with the federal reserve. Silver is also scattered in different places. There was a recession before 9/11- I think. I never check gold prices:smileyvery-happy: I'm just waiting for noncounterfeitable ben franklins like a true- blooded American.

 

The standards may be a better system of accounting. I could see politics surrounding the addition of another precious metal to the standard when the economy needs a boost, or when it needs more flexibility, like in the late 1800's. Maybe the standard would depoliticize money in one way, but not in the way I just mentioned.There are also purity issues....

 

Chad 

 

 

 


Ah well it's on my radar due to a chart we keep on stocks, bonds, US debt, Gold, International debt, ect..  Gold the only thing since 2000 that's stayed on the green every week.

 

 

Me I'm waiting on watching to see what the braile readable currency notes look like. They should be hitting circulation this year.

 


Is there an optimum size to an economy though? Sometimes I feel that Wall Street should have its own currency....

 

Chad


(shaking head)

 


what? The stock market makes money for itself, not the entire western world. Why should I be dragged down in bad investments?

 

chad


 

Play in a different market, diversify, don't sell your stocks......

 

 


I agree. But after the stock market crash, people once again screamed for more government  regulation in business after restrictions were gradually eased- I'm thinking of banking and insurance, in particular, but also in the stock market. Can we make "wall street" a separate economy in order to hold it more accountable for its actions? And would a separate economy with its own currency possibly prevent future economic meltdowns which seemed to be a natural occurrence as we gradually left the gold standard?

 

Supporters of the gold standard cite accountability as one of its assets. We're also putting people away for trading vilolations, I might add.

 

Chad  


See that's the problem business and the stock market are seperate entitiies. Most people either forget or are unaware of what the stock market actually is, speculation (betting) on the asumed wealth of publicly traded companies. If we treated the stock market the same as we treat a casino or the race track.....

 

Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

Re: A return to the gold standard?


TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 


I knew that some of the gold was actually with the federal reserve. Silver is also scattered in different places. There was a recession before 9/11- I think. I never check gold prices:smileyvery-happy: I'm just waiting for noncounterfeitable ben franklins like a true- blooded American.

 

The standards may be a better system of accounting. I could see politics surrounding the addition of another precious metal to the standard when the economy needs a boost, or when it needs more flexibility, like in the late 1800's. Maybe the standard would depoliticize money in one way, but not in the way I just mentioned.There are also purity issues....

 

Chad 

 

 

 


Ah well it's on my radar due to a chart we keep on stocks, bonds, US debt, Gold, International debt, ect..  Gold the only thing since 2000 that's stayed on the green every week.

 

 

Me I'm waiting on watching to see what the braile readable currency notes look like. They should be hitting circulation this year.

 


Is there an optimum size to an economy though? Sometimes I feel that Wall Street should have its own currency....

 

Chad


(shaking head)

 


what? The stock market makes money for itself, not the entire western world. Why should I be dragged down in bad investments?

 

chad


 

Play in a different market, diversify, don't sell your stocks......

 

 


I agree. But after the stock market crash, people once again screamed for more government  regulation in business after restrictions were gradually eased- I'm thinking of banking and insurance, in particular, but also in the stock market. Can we make "wall street" a separate economy in order to hold it more accountable for its actions? And would a separate economy with its own currency possibly prevent future economic meltdowns which seemed to be a natural occurrence as we gradually left the gold standard?

 

Supporters of the gold standard cite accountability as one of its assets. We're also putting people away for trading vilolations, I might add.

 

Chad  


See that's the problem business and the stock market are seperate entitiies. Most people either forget or are unaware of what the stock market actually is, speculation (betting) on the asumed wealth of publicly traded companies. If we treated the stock market the same as we treat a casino or the race track.....

 


Casinos use chips. I might see how another conversion from US dollars into chips and then into stocks might help accounting. It may slow the market a bit- I think the market survives on the speed of the trade and new technologies which make it move faster...also the purpose of chips...

 

Chad

 

 

Distinguished Bibliophile
TiggerBear
Posts: 9,489
Registered: ‎02-12-2008
0 Kudos

Re: A return to the gold standard?

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 


I knew that some of the gold was actually with the federal reserve. Silver is also scattered in different places. There was a recession before 9/11- I think. I never check gold prices:smileyvery-happy: I'm just waiting for noncounterfeitable ben franklins like a true- blooded American.

 

The standards may be a better system of accounting. I could see politics surrounding the addition of another precious metal to the standard when the economy needs a boost, or when it needs more flexibility, like in the late 1800's. Maybe the standard would depoliticize money in one way, but not in the way I just mentioned.There are also purity issues....

 

Chad 

 

 

 


Ah well it's on my radar due to a chart we keep on stocks, bonds, US debt, Gold, International debt, ect..  Gold the only thing since 2000 that's stayed on the green every week.

 

 

Me I'm waiting on watching to see what the braile readable currency notes look like. They should be hitting circulation this year.

 


Is there an optimum size to an economy though? Sometimes I feel that Wall Street should have its own currency....

 

Chad


(shaking head)

 


what? The stock market makes money for itself, not the entire western world. Why should I be dragged down in bad investments?

 

chad


 

Play in a different market, diversify, don't sell your stocks......

 

 


I agree. But after the stock market crash, people once again screamed for more government  regulation in business after restrictions were gradually eased- I'm thinking of banking and insurance, in particular, but also in the stock market. Can we make "wall street" a separate economy in order to hold it more accountable for its actions? And would a separate economy with its own currency possibly prevent future economic meltdowns which seemed to be a natural occurrence as we gradually left the gold standard?

 

Supporters of the gold standard cite accountability as one of its assets. We're also putting people away for trading vilolations, I might add.

 

Chad  


See that's the problem business and the stock market are seperate entitiies. Most people either forget or are unaware of what the stock market actually is, speculation (betting) on the asumed wealth of publicly traded companies. If we treated the stock market the same as we treat a casino or the race track.....

 


Casinos use chips. I might see how another conversion from US dollars into chips and then into stocks might help accounting. It may slow the market a bit- I think the market survives on the speed of the trade and new technologies which make it move faster...also the purpose of chips...

 

Chad

 

 


Lot's of them run on cash and credit cards. Unless you hit the card tables you never see a chip in most casinos. And they'll gladly give you a swipe card instead. They moved on themselves.

 

Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

Re: A return to the gold standard?


TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

TiggerBear wrote:

 


chad wrote:

The gold standard always comes up in the literature of the 1800's, it was a hot topic then, and it was interesting to see the gold standard mentioned in the current news, so I thought I would create this thread for anyone to comment. The price of gold did rise after the recent crash, and we still have a gold reserve at Ft. Knox- correct me if I'm wrong. I'm not sure how much gold we actually have. The link for the whole article follows this clip:

 

 


 

As to exactly how much gold the US has stored is up for debate (actually considered classified). Though it is pretty well know it not stored at any one depository and hasn't been since before the Truman administration. IE Fort Knox, has some gold but is used for all kinds of secured storage.

 

If you regulary trak gold prices you can see the rise pre 9-11 actually, BTW.

 

 


I knew that some of the gold was actually with the federal reserve. Silver is also scattered in different places. There was a recession before 9/11- I think. I never check gold prices:smileyvery-happy: I'm just waiting for noncounterfeitable ben franklins like a true- blooded American.

 

The standards may be a better system of accounting. I could see politics surrounding the addition of another precious metal to the standard when the economy needs a boost, or when it needs more flexibility, like in the late 1800's. Maybe the standard would depoliticize money in one way, but not in the way I just mentioned.There are also purity issues....

 

Chad 

 

 

 


Ah well it's on my radar due to a chart we keep on stocks, bonds, US debt, Gold, International debt, ect..  Gold the only thing since 2000 that's stayed on the green every week.

 

 

Me I'm waiting on watching to see what the braile readable currency notes look like. They should be hitting circulation this year.

 


Is there an optimum size to an economy though? Sometimes I feel that Wall Street should have its own currency....

 

Chad


(shaking head)

 


what? The stock market makes money for itself, not the entire western world. Why should I be dragged down in bad investments?

 

chad


 

Play in a different market, diversify, don't sell your stocks......

 

 


I agree. But after the stock market crash, people once again screamed for more government  regulation in business after restrictions were gradually eased- I'm thinking of banking and insurance, in particular, but also in the stock market. Can we make "wall street" a separate economy in order to hold it more accountable for its actions? And would a separate economy with its own currency possibly prevent future economic meltdowns which seemed to be a natural occurrence as we gradually left the gold standard?

 

Supporters of the gold standard cite accountability as one of its assets. We're also putting people away for trading vilolations, I might add.

 

Chad  


See that's the problem business and the stock market are seperate entitiies. Most people either forget or are unaware of what the stock market actually is, speculation (betting) on the asumed wealth of publicly traded companies. If we treated the stock market the same as we treat a casino or the race track.....

 


Casinos use chips. I might see how another conversion from US dollars into chips and then into stocks might help accounting. It may slow the market a bit- I think the market survives on the speed of the trade and new technologies which make it move faster...also the purpose of chips...

 

Chad

 

 


Lot's of them run on cash and credit cards. Unless you hit the card tables you never see a chip in most casinos. And they'll gladly give you a swipe card instead. They moved on themselves.

 


Casino accounting procedures include specific accounting terms like "drop" and "handle" for accurate accounting and hopefully a more profitable casino. Maybe they could be applied to the stock market as well....

Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

Bitcoins

 

Here's an article about a  web-based currency that might have some similar characteristics of a metal-based currency... 

 

 

 

http://finance.yahoo.com/banking-budgeting/article/112907/bitcoin-triples-again-smartmoney

 

 

 

Chad

Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

Re: Bitcoins


chad wrote:

 

Here's an article about a  web-based currency that might have some similar characteristics of a metal-based currency... 

 

 

 

http://finance.yahoo.com/banking-budgeting/article/112907/bitcoin-triples-again-smartmoney

 

 

 

Chad


 

Well, Bitcoins might be a great way to "depoliticize" currency like a metallic standard. The Bitcoin system is finite. Moreover, I think the inherent problem with using money is still in the "Bitcoin": money is soometimes more valuable in the future. That is, currency is sometimes more valuable if I save it, rather than spend it. So, money can only facilitate trade so well- I'm saving my money, not spending it. Moreover, I can save so much money that I can create a bank- which I'm not sure has happened with Bitcoins yet, but the web reports a few individuals with a large number of bitcoins. There are also websites which make a profit from the exchange of money and Bitcoins....

 

Chad 

 

Frequent Contributor
chad
Posts: 1,477
Registered: ‎10-25-2006
0 Kudos

Re: Bitcoins:savings

 

Just to add savings basics:

 

I find it sometimes worthwhile to save money, as probably everyone does. You might ask yourselves whether we have to save money- most people will probably tell you "yes, we have to save money." I'm not so sure that's because we really have to save money or because there are a lot of banks telling us that we have to save money. Banks, of course, will pay interest on savings accounts. Savings interest rates aren't really too good these days, so I find myself saving for other reasons. In addition, banks have encountered federal regulation of their loans and investments. And there is now a need for more transparency in banking to ensure, in part, that our savings will be there when we need to make a withdrawal in the future. The savings and loan scandals of the 1920's, from my understanding, were a lot worse then some of the scandals today and led to federal regulations...well, maybe the recent market crash was a "close second" to the crash of the 20's- what do you think?

 

 

Chad

 

PS- The economy runs when people spend money- that is, some spending must take place. Money cannot all be saved, of course. Moreover, many people save for their retirement and their future. And of course we have social security, but most people will tell you that you really can't live off of social security alone. There also have been some recent concerns over interest rates for IRA's.