This is funny coming from someone who, a few posts ago, made amateurish statements like: “I don't know if there is enough physical gold on the planet to represent all the 'money' in the economy.” This proves how little you know about a gold standard, so don't sit there and then say you're going to “let” me go and educate myself.

You're right, there are plenty of views on a gold standard. Most of the counter-arguments are a variant of the statement I quoted from you above. Mostly, anti-gold people are worried about how the U.S. government is going to continue being the biggest left-wing activist in the world without being able to counterfeit currency.

As for the gold standard…someone has been reading a book on returning to the gold standard and is all high on the subject. I will let you go educate yourself as to why we don't and can't go back. There are plenty of views and theories on both sides of issue, but I don't feel like arguing either of them.

Actually, what I am experiencing is called intelligence. Our economic problems are in large part precisely because the Fed has absolutely no restraint on how much money it creates through bond purchases and, in turn, through fractional reserve banking. Why do you think foreign central banks are ditching the dollar and buying gold?

Your standard reversing-the-damage-done-by-Bush line is illiterate and therefore unworthy of a full response. Wars definitely add to our problems but how are they financed? By printing money. All major wars in our history were financed by abrogating the gold standard.

Maybe we can have the government sieze it again like we did it the first time around. How do you think they stocked out fort knox? That would go over well on FPM.

What you are experiencing is called nostalgia. Our economic problems aren't because we aren't on the gold standard. Reversing all the damage done under Bush will take some time…but once the wars stop and things get straightened out, we might be able to stat turning around the debt. We were there once before you might remember…just before the election in 2000

Since that is always where you depart from and lead back to, you will never see the reality of modern times. It's not that the people or books you cite don't exist…it's just they aren't as relevant as you want to make them.

Just skip me…when you want to rant about your crazy beliefs…just skip me.

“Asian central banks are trying to prop the dollar up but this is like trying to roll a gigantic boulder uphill. The level of global demand for US-made goods at the dollar’s current price simply isn’t high enough to justify the current value of the dollar.

Meanwhile, the interests of American tourists aside, a falling dollar is exactly what the American economy needs. It’s a way of, in effect, driving wage levels down to a level at which increasing employment is economical and getting us out of current sky-high unemployment. Of course for the same reason foreign central banks will want to bolster the value of the dollar in order to prevent unemployment from rising in Europe and Asia. I think the real risk here, however, is that foreigners will go too far in terms of trying to sustain an unsustainable situation and ultimately prompt a bigger breakdown. “

I agree with this statement from Mathew Yglasias

Could it possibly be any clearer?

http://www.independent.org/newsroom/news_detail...

Liberals are not the only ones with a penchant for cheap money.