DC Tom Posted July 13, 2011 Share Posted July 13, 2011 I hope it's not us. Knowing this administration, someone would choke on a gold filling and they'd ban gold mining until there was a thorough investigation to ensure new regulations were in place to save just one more life from choking on a tooth filling. Or worse. They'd find a spotted lizard and decide we shouldn't mine for gold because we'd be ruining the spotted lizard's habitat and threatening all four of its species. If it were us, this administration would have already found a way to demonize not just the mining industry, but the jewelery industry as well. Link to comment Share on other sites More sharing options...
TPS Posted July 14, 2011 Share Posted July 14, 2011 Not really. The Fed can only try to control US interest rates. The value of the dollar reflects the economic, political & military might of the US. Too many people have the wrong idea of what the fed does. This is really me. GG hacked my account.... It can't be him! Link to comment Share on other sites More sharing options...
/dev/null Posted July 14, 2011 Author Share Posted July 14, 2011 This is really me. GG hacked my account.... It can't be him! I have bad news for you my friend, he just may be you. It is a well documented fact that most of the posters on TSW different versions of DC Tom's personality (myself included). It's quite possible that GG and you are both some figment of Tom's crap throwing imagination Link to comment Share on other sites More sharing options...
ieatcrayonz Posted July 14, 2011 Share Posted July 14, 2011 Even if he were elected, Ron Paul would have a better chance of annexing Canada than returning us to the gold standard. This may be the scariest post in the history of this site. Ron Paul seemed pretty smart to me. I was considering voting for him since it seems like John Edwards and Tom Tancredo won't run, but now I don't know what to do. Link to comment Share on other sites More sharing options...
GG Posted July 14, 2011 Share Posted July 14, 2011 This is really me. GG hacked my account.... It can't be him! I've been consistent on this. Paul keeps bringing up 100-year old criticisms of the Fed, as if it's a Communist takeover of the banking system, which is laughable. That is not to say that the Fed construct doesn't give an advantage to the largest financial companies, but I just view it as a necessary evil. The economic swings would be much more frequent & severe without an effective central bank. Link to comment Share on other sites More sharing options...
Magox Posted July 14, 2011 Share Posted July 14, 2011 I've been consistent on this. Paul keeps bringing up 100-year old criticisms of the Fed, as if it's a Communist takeover of the banking system, which is laughable. That is not to say that the Fed construct doesn't give an advantage to the largest financial companies, but I just view it as a necessary evil. The economic swings would be much more frequent & severe without an effective central bank. Maybe I misunderstood you, did you imply that the Fed's policies don't affect the value of the U.S dollar? Link to comment Share on other sites More sharing options...
GG Posted July 14, 2011 Share Posted July 14, 2011 Maybe I misunderstood you, did you imply that the Fed's policies don't affect the value of the U.S dollar? The policies do affect the value. I was making the distinction of the false belief that the Fed fully controls the value of the US dollar, which is not the case. Link to comment Share on other sites More sharing options...
Magox Posted July 14, 2011 Share Posted July 14, 2011 The policies do affect the value. I was making the distinction of the false belief that the Fed fully controls the value of the US dollar, which is not the case. Oh ok. Yes, it does not "fully" control the value of the dollar, as you stated there are a number of factors that do and in many cases it has very little to do with what happens here in the U.S The dollar and gold are in my view are about extremely complex markets, that may have more factors that help determine the value of each. When I traded Oil, I thought that was complex, but ever since I've gone into metals, Holy ****! There has to be at least 3 times more factors that affect the markets than what you see in the oil pits. Link to comment Share on other sites More sharing options...
TPS Posted July 14, 2011 Share Posted July 14, 2011 The policies do affect the value. I was making the distinction of the false belief that the Fed fully controls the value of the US dollar, which is not the case. There is a difference between "the value of a dollar" (purchasing power of one dollar) vs "the value of the dollar (forex rate)." Under the gold standard they were explicitly connected; under the fiat system, they are not. Link to comment Share on other sites More sharing options...
EC-Bills Posted July 14, 2011 Share Posted July 14, 2011 I hope it's not us. Knowing this administration, someone would choke on a gold filling and they'd ban gold mining until there was a thorough investigation to ensure new regulations were in place to save just one more life from choking on a tooth filling. Or worse. They'd find a spotted lizard and decide we shouldn't mine for gold because we'd be ruining the spotted lizard's habitat and threatening all four of its species. Sounds like code speak to me for wanting the dollar to be based on 4 spotted lizards instead of gold. Link to comment Share on other sites More sharing options...
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