Ron Paul's Faith-based Monetary Policy

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Master_Pedant
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18 Jan 2012, 1:09 pm

[youtube]http://www.youtube.com/watch?v=zhIAYh-2LX0&feature=g-all-u&context=G2c383fcFAAAAAAAAAAA[/youtube]

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androbot2084
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18 Jan 2012, 1:30 pm

Ron Paul is catering to the religious right vote otherwise he will lose the election. The Bible does not declare gold as the ultimate form of legal tender but considers the worship of gold as idolatry. Our economy is based on the services of the people and people should come first not money.

Jacoby
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18 Jan 2012, 1:56 pm

androbot2084 wrote:

The bible is pretty explicitly against "fraudulent weights and measurements" tho and it's not hard to see how that relates to fiat currency.

Ron is just making a moral argument against unsound money. It's not the basis of his disagreement by any measure tho, please don't make it seem like it is.

If you want to be literal tho, our fiat currency is 100% faith-based, it doesn't exist.

Oodain
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18 Jan 2012, 2:40 pm

bat s**t bonkers

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Jacoby
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18 Jan 2012, 2:43 pm

Oodain wrote:

bat sh** bonkers

You contribute so much to this forum. I don't know what we'd do if you stopped posting.

pandabear
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18 Jan 2012, 3:24 pm

Jacoby wrote:

The bible is pretty explicitly against "fraudulent weights and measurements"

Quote:

Leviticus 19:35 "'Do not use dishonest standards when measuring length, weight or quantity.
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Leviticus 19:36 Use honest scales and honest weights, an honest ephah and an honest hin. I am the LORD your God, who brought you out of Egypt.
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Deuteronomy 25:13 Do not have two differing weights in your bag--one heavy, one light.
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Deuteronomy 25:16 For the LORD your God detests anyone who does these things, anyone who deals dishonestly.
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Proverbs 16:11 Honest scales and balances are from the LORD; all the weights in the bag are of his making.
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Proverbs 20:10 Differing weights and differing measures--the LORD detests them both.
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Proverbs 20:23 The LORD detests differing weights, and dishonest scales do not please him.
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Hosea 12:7 The merchant uses dishonest scales; he loves to defraud.
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Micah 6:11 Shall I acquit a man with dishonest scales, with a bag of false weights?

The Bible doesn't address monetary policy.

Jacoby
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18 Jan 2012, 4:26 pm

pandabear wrote:

Jacoby wrote:

The bible is pretty explicitly against "fraudulent weights and measurements"

Verse, please?

There are a few of them apparently. Proverbs 11:1 is one.

http://bible.cc/proverbs/11-1.htm

ruveyn
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18 Jan 2012, 4:30 pm

Jacoby wrote:

pandabear wrote:

Jacoby wrote:

The bible is pretty explicitly against "fraudulent weights and measurements"

Verse, please?

There are a few of them apparently. Proverbs 11:1 is one.

http://bible.cc/proverbs/11-1.htm

Deut 25:15. It is a commandment from Torah. As binding as not murdering or not stealing.

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Master_Pedant
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18 Jan 2012, 4:50 pm

Jacoby wrote:

androbot2084 wrote:

The bible is pretty explicitly against "fraudulent weights and measurements" tho and it's not hard to see how that relates to fiat currency.

If you understand notional value at all, then, yes, it's quite easy to see how that doesn't apply to fiat currency. And, if one looks at America's deflationary history while on the Gold standard, it makes quite a bit of sense to consider gold-backed paper money "unsound".

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ruveyn
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18 Jan 2012, 5:00 pm

Master_Pedant wrote:

Why so? The quantity of specie money cannot be fiddled politically.

ruveyn

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18 Jan 2012, 5:35 pm

Jacoby wrote:

Oodain wrote:

bat sh** bonkers

You contribute so much to this forum. I don't know what we'd do if you stopped posting.

why thank you :lol:

over here he would never have gotten as far as a candidate,
so in our context he quit literally doesnt portray himself as a sane individual capable of ruling anything, now i dont know if its an act to pander to voters but were thjat he case it wouldnt excactly shine brightly upon any politician (though most do just that)

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androbot2084
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18 Jan 2012, 5:54 pm

If gold became the standard for money then anyone who just happens to have the most gold would be the richest.

abacacus
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18 Jan 2012, 5:57 pm

androbot2084 wrote:

If gold became the standard for money then anyone who just happens to have the most gold would be the richest.

Not quite.

The gold standard just gives something for money to be backed against, instead of money being worth whatever people think it is (which is now).

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androbot2084
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18 Jan 2012, 6:03 pm

Right so since the owners of gold back the money they unjustly enrich themselves. It's not like all the gold will be confiscated and held at Fort Knox.

ruveyn
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18 Jan 2012, 6:42 pm

androbot2084 wrote:

If gold became the standard for money then anyone who just happens to have the most gold would be the richest.

For money to have any real value it has to be put into play:

Either it is used to buy something, to lend to someone or to invest in something. Just burying in the backyard or stuffing it in a mattress is useless.

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pandabear
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18 Jan 2012, 6:42 pm

Gold is such a useful metal, it seems stupid to hoard it just to back up a stupid currency.

The influx of gold from America to Spain didn't seem to help the Spanish economy all that much.

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