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

[arraamis]

fiat money:

Money which has no intrinsic value and cannot be redeemed for specie or any commodity, but is made legal tender through government decree. All modern paper currencies are fiat money, as are most modern coins. The value of fiat money depends on the strength of the issuing country's economy. Inflation results when a government issues too much fiat money.

http://en.wikipedia.org/wiki/Fiat_money

Loss of backing

A fiat-money currency generally loses value once the issuing government or central bank refuses to further guarantee its value, but this need not necessarily occur. For example, the so-called Swiss dinar continued to retain value in Kurdish Iraq even after its legal tender status was withdrawn by its issuer, Iraq's central government.


Monetary economics

In monetary economics, fiat money is an intrinsically useless product, used as a means of payment. In some micro-founded models of money, fiat money is created internally in a community making feasible trades that would not otherwise be possible, either because producers and consumers may not anonymously write IOUs, or because of physical constraints

[One_Tycoon]

:wank:

Avoiding another question, I see .............

You cannot have a Free Market Capitalism system, alongside with FIAT monetary rules. The financial system undermines any long-term success, by devaluation of the item\items used for exchange. Ultimately and eventually, the economy will again, have more debt than money in circulation which is the beginning of the collapse-spiral ..... ECO101

More lack of comprehension I see. Did I not say that I'm in favor of going back to a Gold Standard or better yet let the people determine what they want to use as a means of exchange? Yes, yes I did. So your point is moot.

But...you can still have plenty of Capitalism with fiat money as well. Maybe not the Guilded age type of Capitalism ( my favorite) but Capitalism nonetheless, it just would require more discipline and restrain from Govt.

But what all this comes down to is my analogy that because you can't have your Gold Standard or 100% Capitalism., you rather support the guys who aren't even close to supporting it.

Again it's the equivalent of saying that the Fire is the problem, and because we can't have enough water, lets support the guys who will pour gasoline on top it. Which is why you're one confused individual and probably suffer from some kind of mental disorder in my humble opinion. Consider yourself served...

[One_Tycoon]

fiat money:

Money which has no intrinsic value and cannot be redeemed for specie or any commodity, but is made legal tender through government decree. All modern paper currencies are fiat money, as are most modern coins. The value of fiat money depends on the strength of the issuing country's economy. Inflation results when a government issues too much fiat money.

http://en.wikipedia.org/wiki/Fiat_money

Loss of backing

A fiat-money currency generally loses value once the issuing government or central bank refuses to further guarantee its value, but this need not necessarily occur. For example, the so-called Swiss dinar continued to retain value in Kurdish Iraq even after its legal tender status was withdrawn by its issuer, Iraq's central government.


Monetary economics

In monetary economics, fiat money is an intrinsically useless product, used as a means of payment. In some micro-founded models of money, fiat money is created internally in a community making feasible trades that would not otherwise be possible, either because producers and consumers may not anonymously write IOUs, or because of physical constraints

Yes I know all of this? Wanna post more? Still doesn't confirm your point, whatever your point is. Hell nobody knows.

Your cheerlead for Obama and Democrats by lumping them in with Republicans (who granted aren't Conservative enough)...but yet you still support them. Who in the Democratic party is making an argument for the Gold Standard or getting rid of the Federal Reserve? I can name quite a few Republicans who are in favor of both.

[One_Tycoon]

Yes I know all of this? Wanna post more? Still doesn't confirm your point, whatever your point is. Hell nobody knows.

Your cheerlead for Obama and Democrats by lumping them in with Republicans (who granted aren't Conservative enough)...but yet you still support them. Who in the Democratic party is making an argument for the Gold Standard or getting rid of the Federal Reserve? I can name quite a few Republicans who are in favor of both.

I'm gonna consider you as ducking this question since i've posed it quite a few times and you simply go away for a while, before reappearing again.

You're cherry picking when to go into attack mode and duck when pressed. You're the equivalent of Floyd Mayweather in the posting world......minus the great skills that he has. You're C + like Malignaggie at best.

[arraamis]

More lack of comprehension I see. Did I not say that I'm in favor of going back to a Gold Standard or better yet let the people determine what they want to use as a means of exchange? Yes, yes I did. So your point is moot. "Now you are contradicting your previous words in other threads"

But...you can still have plenty of Capitalism with fiat money as well. Maybe not the Guilded age type of Capitalism ( my favorite) but Capitalism nonetheless, it just would require more discipline and restrain from Govt.

But what all this comes down to is my analogy that because you can't have your Gold Standard or 100% Capitalism., you rather support the guys who aren't even close to supporting it.

Again it's the equivalent of saying that the Fire is the problem, and because we can't have enough water, lets support the guys who will pour gasoline on top it. Which is why you're one confused individual and probably suffer from some kind of mental disorder in my humble opinion. Consider yourself served...
"Really!! Is this the very best you can come up with"

[One_Tycoon]

This post doesn't even require a response. But I'll just say I'll take it as you throwing in the white flag indirectly.

[One_Tycoon]

Some Post-victory celebration pictures

[Canelo Phresh]

This post doesn't even require a response. But I'll just say I'll take it as you throwing in the white flag indirectly.

You have changed your tune since the election though. You were old guard republican than when Romnero lost you started leaning tea party. Its a smart move. Even pundits like Hannity realized that their were dinosaur ideologies that need to be cut off.

[One_Tycoon]

You have changed your tune since the election though. You were old guard republican than when Romnero lost you started leaning tea party. Its a smart move. Even pundits like Hannity realized that their were dinosaur ideologies that need to be cut off.

No I'm far more to the Right then those guys. Something along the lines of a Far-Right Libertarian. Anarcho-Capitalism is the goal, but adopt the Romney types to slowly push into the right direction in the form of standard 'laissez faire' which even moderates talk about.

The same thing the Liberals do. Instead of nominating guys who directly admit that they're Socialists, they pick guys who pretend to be just "progressive' and thus moderate, slowly pushing Socialism on our Mixed Economy until it's not even really mixed. You know politicians who say,"we still like Capitalism but...". You know when they say "BUT", trouble is coming.


For proof of what I say, see one of my first threads where I made my Capitalistic Debut. Titled: Milton Friedman is not a real Free-Market Economist:

http://www.boxingscene.com/forums/sh...d.php?t=537416

[arraamis]

You have changed your tune since the election though. You were old guard republican than when Romnero lost you started leaning tea party. Its a smart move. Even pundits like Hannity realized that their were dinosaur ideologies that need to be cut off.

Homie changes his tune as often as he changes his name. Search for his previous BS about the gold-standard and then read what he's stating in this thread.

Dude is a posting contradiction on steroids but he is entertaining and fun to from time to time.