Ron Paul: We're Broke and Already Over Fiscal Cliff

[squealpiggy]

[QUOTE=Prince Mongo;12742893]

I did not lie about the fact that the $ is loving value.

You said:

The Zimbabwean currency lost it's value progressively just as the US Dollar is doing now and has been for a long time.

The Zimbabwe dollar did not lose value "progressively" nor did it lose its value "just as the US currency has done". So you lied, or more accurately you repeated an unsupportable statement made by libertarian gold standard promoters.

Next you'll be claiming that "the Fed" are a privately owned corporation.

[Prince Mongo]

[QUOTE=squealpiggy;12742820]

The Zimbabwean currency lost it's value progressively just as the US Dollar is doing now and has been for a long time.


You lied about the rate that the Zimbabwe dollar is losing value. The US dollar is devaluing at a considerably lower rate. You lied about this because it's yet another stupid talking point about the gold standard.

Newsflash: The Gold standard is ARSE.

[QUOTE=squealpiggy;12742922]

You said:



The Zimbabwe dollar did not lose value "progressively" nor did it lose its value "just as the US currency has done". So you lied, or more accurately you repeated an unsupportable statement made by libertarian gold standard promoters.

Next you'll be claiming that "the Fed" are a privately owned corporation.

This is quoted from the link you put up

Introduction of the first dollar (ZWD)

The first Zimbabwean dollar was introduced in 1980 and replaced the Rhodesian dollar at par. The initial ISO 4217 code was ZWD. At the time of its introduction, the Zimbabwean dollar was worth more than the U.S. dollar, with ZWD 1 = USD 1.47 However, the currency's value eroded rapidly over the years. On 26 July 2006, the parallel market value of the Zimbabwean dollar fell, to Z$100=GB₤1.[7]

Can you tell me how this is at odds with my statement

"The Zimbabwean currency lost it's value progressively"?

Next you'll be claiming that "the Fed" is a governmental institution completely owned by and completely controlled by the US Government.

[squealpiggy]

[QUOTE=Prince Mongo;12742962][QUOTE=squealpiggy;12742820]

This is quoted from the link you put up

Introduction of the first dollar (ZWD)

The first Zimbabwean dollar was introduced in 1980 and replaced the Rhodesian dollar at par. The initial ISO 4217 code was ZWD. At the time of its introduction, the Zimbabwean dollar was worth more than the U.S. dollar, with ZWD 1 = USD 1.47 However, the currency's value eroded rapidly over the years. On 26 July 2006, the parallel market value of the Zimbabwean dollar fell, to Z$100=GB₤1.[7]

Can you tell me how this is at odds with my statement

"The Zimbabwean currency lost it's value progressively"?

Next you'll be claiming that "the Fed" is a governmental institution completely owned by and completely controlled by the US Government.

1. never made that claim about the Federal Reserve. It is an agency that sets policy outside of influence from elected government. Which puts it at odds with the Zimbabwean system.

2. The Zimbabwean dollar did not lose its value progressively, it did so erratically and at the end exponentially.

[Prince Mongo]

[QUOTE=squealpiggy;12743008][QUOTE=Prince Mongo;12742962]

2. The Zimbabwean dollar did not lose its value progressively, it did so erratically and at the end exponentially.

I can partially agree with you and you are right in the way you describe the death throes of the Zimbabwean dollar. But the initial decline was progressive it did not go to the crazy phase straight away.

[squealpiggy]

[QUOTE=Prince Mongo;12743033][QUOTE=squealpiggy;12743008]

I can partially agree with you and you are right in the way you describe the death throes of the Zimbabwean dollar. But the initial decline was progressive it did not go to the crazy phase straight away.

In one year in the early 90s inflation was at 40%. It was erratic. It was not a few percentage points per year, it was at least 7% and was all over the place before it hit the final decline.

[mokmokv2]

The bottomline is Ron Paul is RIGHT. Those who have invested in gold and silver will see huge upsides and those who prepared and are armed with guns will not become rabble.

[Ta Khent]

You do realize gold is finite right?

[One_Tycoon]

[QUOTE=Prince Mongo;12743033][QUOTE=squealpiggy;12743008]

I can partially agree with you and you are right in the way you describe the death throes of the Zimbabwean dollar. But the initial decline was progressive it did not go to the crazy phase straight away.

The only way we would ever reach Zimbabwe like inflation is if Full-on Socialism took over and chased all the productive Private Sector industry/entrepreneurship away. Since that's never likely to happen....the U.S. will be fine as far as Hyperinflation is concerned. Christ....we're a nation of 300 million and we panic when there is a 10% unemployment rate. How much is 10% out of 300 million population? At our worst we're still maintaining one of the best and biggest economies.

Anyway...since Zimbabwe has now adopted the U.S. dollar and thus our b1tch indirectly, this only further secures that we will remain the reserve currency of the world.

[One_Tycoon]

As far as the current inflation rate of the U.S....which is still too much for my standards.. it can all be fixed if we embraced Capitalism. And take steps in the right direction towards decreasing spending like Paul Ryan's budget....which isn't really cutting much but yet the accusation is "that they will throw granny off teh cliff".

Well then I guess Ron Paul's plan would call for throwing Granny off Mount Everest....which I personally wouldn't mind but we can't all have our perfect world at once. BIg Govt. didn't come over night and undoing some of these things won't happen over night either. His son is the smarter of the two and gets it.

Teh Democrats aren't pushing "From each according to his ability, to each according to his need" at once. Instead they pretend to support Capitalism with an asterisk (giving out illogical fallacy talking points) calling for just slightly bigger taxes, slightly more regulation....gradually. The same needs to happen in the opposite direction.

Slowly but gradually cut off medicare, SSI, lower taxes until it's extinct...and lets go back to kicking ass Guilded Age style, economic/industrial revolation.

[Prince Mongo]

You do realize gold is finite right?

That is why gold is going up when the money printing system just churns out more digital money that is not based on anything.