14 Oct 2012, 8:30 am
14 Oct 2012, 9:21 am
14 Oct 2012, 9:46 am
16 Oct 2012, 12:39 am
16 Oct 2012, 6:28 pm
16 Oct 2012, 7:46 pm
16 Oct 2012, 9:55 pm
16 Oct 2012, 10:17 pm
ruveyn wrote:
I like the idea of commodity based money. Quantities are limited by nature and amounts are bounded by the cost of extraction.
And I suppose you also like the idea of a deflationary spiral too, huh..............
Because money based on a commodity(Gold) is what triggered the great depression. The government needs to have the ability to increase the money supply and inflate currency which is why Nixon wisely took us off the Gold standard and prevented yet another depression.
17 Oct 2012, 8:51 am
AspieRogue wrote:
ruveyn wrote:
I like the idea of commodity based money. Quantities are limited by nature and amounts are bounded by the cost of extraction.
And I suppose you also like the idea of a deflationary spiral too, huh..............
Because money based on a commodity(Gold) is what triggered the great depression. The government needs to have the ability to increase the money supply and inflate currency which is why Nixon wisely took us off the Gold standard and prevented yet another depression.
What is wrong with things getting less and less expensive?:
That means any money saved has more buying power in the future.
ruveyn
17 Oct 2012, 8:58 am
ruveyn wrote:
AspieRogue wrote:
ruveyn wrote:
I like the idea of commodity based money. Quantities are limited by nature and amounts are bounded by the cost of extraction.
And I suppose you also like the idea of a deflationary spiral too, huh..............
Because money based on a commodity(Gold) is what triggered the great depression. The government needs to have the ability to increase the money supply and inflate currency which is why Nixon wisely took us off the Gold standard and prevented yet another depression.
What is wrong with things getting less and less expensive?:
That means any money saved has more buying power in the future.
ruveyn
Nothing is wrong with it all and it's certainly good news for consumers. But when currency deflates, people save rather than spend and the economy slows down and grinds to a halt. Inflation isn't always bad as long as it's controlled. The current threat to the American economy is hyperinflation, which makes things too expensive for anyone to afford and has a similar effect. To make an economy work, you need to give people an incentive to spend as much as they can.
17 Oct 2012, 9:00 am
AspieRogue wrote:
ruveyn wrote:
AspieRogue wrote:
ruveyn wrote:
I like the idea of commodity based money. Quantities are limited by nature and amounts are bounded by the cost of extraction.
And I suppose you also like the idea of a deflationary spiral too, huh..............
Because money based on a commodity(Gold) is what triggered the great depression. The government needs to have the ability to increase the money supply and inflate currency which is why Nixon wisely took us off the Gold standard and prevented yet another depression.
What is wrong with things getting less and less expensive?:
That means any money saved has more buying power in the future.
ruveyn
Nothing is wrong with it all and it's certainly good news for consumers. But when currency deflates, people save rather than spend and the economy slows down and grinds to a halt. Inflation isn't always bad as long as it's controlled. The current threat to the American economy is hyperinflation, which makes things too expensive for anyone to afford and has a similar effect. To make an economy work, you need to give people an incentive to spend as much as they can.
Spend or invest. Putting money back into the production side of the economy promote technological growth and advancement. It means venture capitalist would be willing to find young brilliant innovators.
ruveyn
17 Oct 2012, 4:18 pm
ruveyn wrote:
AspieRogue wrote:
ruveyn wrote:
AspieRogue wrote:
ruveyn wrote:
I like the idea of commodity based money. Quantities are limited by nature and amounts are bounded by the cost of extraction.
And I suppose you also like the idea of a deflationary spiral too, huh..............
Because money based on a commodity(Gold) is what triggered the great depression. The government needs to have the ability to increase the money supply and inflate currency which is why Nixon wisely took us off the Gold standard and prevented yet another depression.
What is wrong with things getting less and less expensive?:
That means any money saved has more buying power in the future.
ruveyn
Nothing is wrong with it all and it's certainly good news for consumers. But when currency deflates, people save rather than spend and the economy slows down and grinds to a halt. Inflation isn't always bad as long as it's controlled. The current threat to the American economy is hyperinflation, which makes things too expensive for anyone to afford and has a similar effect. To make an economy work, you need to give people an incentive to spend as much as they can.
Spend or invest. Putting money back into the production side of the economy promote technological growth and advancement. It means venture capitalist would be willing to find young brilliant innovators.
ruveyn
Unfortunately, many heads of business are so short sighted and greedy that they don't reinvest, but hoard their money.
-Bill, otherwise known as Kraichgauer
17 Oct 2012, 5:42 pm
17 Oct 2012, 6:56 pm
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