About
Content
Store
Forum

Rebirth of Reason
War
People
Archives
Objectivism

Post to this threadMark all messages in this thread as readMark all messages in this thread as unreadBack one pagePage 0Page 1


Post 20

Sunday, February 21, 2010 - 12:16amSanction this postReply
Bookmark
Link
Edit
And just in case you think I've contradicted myself, I'll be more clear.

I could see the dollar gaining credibility IN COMPARISON to other currencies, had we taken on the gold standard. However, thinking of two economies in isolation, a gold one and a fiat one: I usually hear that the fiat mode of money has helped support some massive movements of production, which very often are truly bubbles. In contrast, a gold economy would never see such bubbles, and ease itself up.

I hope I've cleared the matter.

Post 21

Sunday, February 21, 2010 - 7:28amSanction this postReply
Bookmark
Link
Edit
Ted and I agree that gold currency would be a boon wherever and however applied.

Sam


Post 22

Sunday, February 21, 2010 - 9:18amSanction this postReply
Bookmark
Link
Edit

Doug, working at the phone company, a customer once complained to me that people were calling her and then hanging up, and she told me she didn't want people to be able to hang up on her. So I asked her if she wanted me to stop people from being able to hang up on her before they called her, or after they called her. She said that didn't make any sense. I said "exactly."

If you are under the Obama-in-China style impression that the relative value of the currency is divorced from the vitality of the economy then you don't understand economics. Having a gold-backed currency alone does not "do" anything. But the confidence people would have in a gold-backed currency would cause investment in the US economy to skyrocket, and, since when foreigners invest in our economy they do so by selling their currencies and buying ours, the value of our dollar relative to fiat currencies to do the same.

Since you phrased your question in terms of currencies and stability, and not economies, I answered you in terms of currencies, and not economies. But they are related just as genuinely as are temperature, volume and pressure in the gas laws you remember from high school chemistry.

You might want to take back your "ha" and ask for a refund.

Post 23

Sunday, February 21, 2010 - 11:30amSanction this postReply
Bookmark
Link
Edit
Ted,

I'd say I've been served, because you post is pretty funny.

But Your paragraph two makes me think you didn't read my last post, where I isolate variables, recognizing the very relation you describe, and paragraph three makes me suspect you just don't like being wrong.

To your third paragraph, I point you to your second paragraph for the explanation. I did not suggest talking of currency in isolation. And if you think it reads that way, Sam brought economics into the discussion, and I commented, making you point null.

My Ha just doubled in value.

Post 24

Sunday, February 21, 2010 - 11:36amSanction this postReply
Bookmark
Link
Edit
Of course I don't like being wrong Doug, so please point out to me what I said that was wrong so I can correct it.

As for your ha, twice a negative number is even worse.

(Edited by Ted Keer on 2/21, 11:38am)


Sanction: 16, No Sanction: 0
Sanction: 16, No Sanction: 0
Sanction: 16, No Sanction: 0
Post 25

Monday, February 22, 2010 - 1:39amSanction this postReply
Bookmark
Link
Edit
I'd only be patronizing you.

-2*-2=4

Sanction: 20, No Sanction: 0
Sanction: 20, No Sanction: 0
Sanction: 20, No Sanction: 0
Post 26

Monday, February 22, 2010 - 12:06pmSanction this postReply
Bookmark
Link
Edit
Ah, but you see, Doug, twice a negative number isn't (-2) * (-2); it's 2 * (-2), which equals -4.

Sorry, I didn't mean to sound patronizing! ;-)

- Bill

Post 27

Monday, February 22, 2010 - 1:08pmSanction this postReply
Bookmark
Link
Edit
I just want to know who sanctioned his nonsense.

No, on second hand, I'd rather not.
(Edited by Ted Keer on 2/22, 1:09pm)


Post 28

Monday, February 22, 2010 - 2:09pmSanction this postReply
Bookmark
Link
Edit
Touché, Bill. Touché. =)

Ted, you might instead take this opportunity to notice a trend.


Post to this threadBack one pagePage 0Page 1


User ID Password or create a free account.