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Liybians move to "Gold Standard"

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leanlifter1
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Liybians move to "Gold Standard" Oct. 7th, 2012 @ 09:57 AM Reply

http://www.youtube.com/watch?feature=player_embedded&v=GuqZf aj34nc
More bad news for the "PetroDollar" and I say good riddance. What do you think of a Gold standard ?


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Warforger
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Response to Liybians move to "Gold Standard" Oct. 7th, 2012 @ 11:03 AM Reply

You do realize this is a "what-if" scenario and that the point of it was that it didn't actually happen? It was planned and the "amazing" coverage by RT tries to paint NATO helping the rebels depose Gaddaffi because of this gold thing. Honestly the gold standard is just stupid, like the video says there's not enough to go around thus it would be an economic drain rather than a benefit unless population growth matches gold production which isn't the case now.


"If you don't mind smelling like peanut butter for two or three days, peanut butter is darn good shaving cream.
" - Barry Goldwater.

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LemonCrush
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Response to Liybians move to "Gold Standard" Oct. 7th, 2012 @ 12:10 PM Reply

At 10/7/12 11:03 AM, Warforger wrote:

Honestly the gold standard is just stupid, like the video says there's not enough to go around thus it would be an economic drain rather than a benefit unless population growth matches gold production which isn't the case now.

Economic system for thousands of years = stupid

leanlifter1
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Response to Liybians move to "Gold Standard" Oct. 7th, 2012 @ 12:56 PM Reply

At 10/7/12 11:03 AM, Warforger wrote:
You do realize this is a "what-if" scenario

It's not a what if that the economy has collapsed.


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leanlifter1
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Response to Liybians move to "Gold Standard" Oct. 7th, 2012 @ 12:58 PM Reply

At 10/7/12 12:10 PM, LemonCrush wrote:
At 10/7/12 11:03 AM, Warforger wrote:
Honestly the gold standard is just stupid, like the video says there's not enough to go around thus it would be an economic drain rather than a benefit unless population growth matches gold production which isn't the case now.

Economic system for thousands of years = stupid

I agree that the "Gold Standard" is not relevant now in day's however what I like to see is people creating change.


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Warforger
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Response to Liybians move to "Gold Standard" Oct. 7th, 2012 @ 05:38 PM Reply

At 10/7/12 12:10 PM, LemonCrush wrote:
At 10/7/12 11:03 AM, Warforger wrote:
Honestly the gold standard is just stupid, like the video says there's not enough to go around thus it would be an economic drain rather than a benefit unless population growth matches gold production which isn't the case now.

Economic system for thousands of years = stupid

It was around for thousands of years because there was enough to go around, it was around before the population began booming in Stage 2 of the Demographic transition. The only reason it survived into the 1900's was because there was constantly new deposits of gold being found. Right now there isn't any significant number of gold deposits that can yield enough gold to keep up with the population's need for it hence why paper currency is being used.


"If you don't mind smelling like peanut butter for two or three days, peanut butter is darn good shaving cream.
" - Barry Goldwater.

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leanlifter1
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Response to Liybians move to "Gold Standard" Oct. 7th, 2012 @ 05:43 PM Reply

At 10/7/12 05:38 PM, Warforger wrote:
It was around for thousands of years because there was enough to go around, it was around before the population began booming in Stage 2 of the Demographic transition. The only reason it survived into the 1900's was because there was constantly new deposits of gold being found. Right now there isn't any significant number of gold deposits that can yield enough gold to keep up with the population's need for it hence why paper currency is being used.

Funny how what you are saying about Gold is exactly the same thing that is happening to Oil now in days.


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Iron-Hampster
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Response to Liybians move to "Gold Standard" Oct. 7th, 2012 @ 10:31 PM Reply

Its a great step in the right direction but gold standard wasn't perfect either. As long as the government doesn't do anything irresponsible with it like American history demonstrated it should put Libyans in a position of advantage. I read up on the panic of 1900 and a bunch of other "panic of 18XXs" and saw that most of them were caused because the government started buying more gold and/or silver. What I found even funnier is that there were pro silver and pro gold candidates who would swap power as a result in these. "gold failed? lets try the same thing with silver, silver failed? lets try gold again", and so on.

I wish them luck, but maybe we just have to go back to something old before we try something new, like competing currencies?


ya hear about the guy who put his condom on backwards? He went.

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Feoric
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Response to Liybians move to "Gold Standard" Oct. 7th, 2012 @ 10:45 PM Reply

At 10/7/12 05:43 PM, leanlifter1 wrote: Funny how what you are saying about Gold is exactly the same thing that is happening to Oil now in days.

Oil isn't a currency.

leanlifter1
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Response to Liybians move to "Gold Standard" Oct. 7th, 2012 @ 11:39 PM Reply

At 10/7/12 10:45 PM, Feoric wrote:
At 10/7/12 05:43 PM, leanlifter1 wrote: Funny how what you are saying about Gold is exactly the same thing that is happening to Oil now in days.
Oil isn't a currency.

Oil Is what Currency is based on AKA "PetroDollar".


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aviewaskewed
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Response to Liybians move to "Gold Standard" Oct. 9th, 2012 @ 05:13 AM Reply

At 10/7/12 11:39 PM, leanlifter1 wrote: Oil Is what Currency is based on AKA "PetroDollar".

That's not what the "PetroDollar" means. You REALLY need to do more reading beyond just skimming some articles and watching videos on youtube. You seem to only ever have half of the facts necessary to properly make an argument I'm finding.


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leanlifter1
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Response to Liybians move to "Gold Standard" Oct. 9th, 2012 @ 06:55 AM Reply

At 10/7/12 10:45 PM, Feoric wrote:
Oil isn't a currency.

"Petrodollar" is currency.


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leanlifter1
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Response to Liybians move to "Gold Standard" Oct. 9th, 2012 @ 07:05 AM Reply

At 10/9/12 05:13 AM, aviewaskewed wrote:
At 10/7/12 11:39 PM, leanlifter1 wrote: Oil Is what Currency is based on AKA "PetroDollar".
That's not what the "PetroDollar" means. You REALLY need to do more reading beyond just skimming some articles and watching videos on youtube. You seem to only ever have half of the facts necessary to properly make an argument I'm finding.

Petrodollar is American fiat dollars that are given to countries in exchange for there Oil resources. You seem pretty quick to judge others without you yourself ever giving anything in return as far as relevant information goes. If the value of currency is not based on Oil then what is it based on ?


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morefngdbs
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Response to Liybians move to "Gold Standard" Oct. 9th, 2012 @ 10:50 AM Reply

At 10/7/12 09:57 AM, leanlifter1 wrote: http://www.youtube.com/watch?feature=player_embedded&v=GuqZf aj34nc
More bad news for the "PetroDollar" and I say good riddance. What do you think of a Gold standard ?

;;;;
First off anyone who says the gold standard isn't pertinent in todays economies , doesn't know jack shit about it.

A gold standard keeps governments from destroying your economy.
Keeps government from OVER SPENDING money they don't have.

What you need to grasp is, inflation is caused by the Government with of course their good friends assistance at the Central Banks.
Inflation is a way for them to steal you money, without actually taking any of it.

A simple example of this is to look at what a dollar would buy in 1912 ( I use that example because my Great great grandma turned 100 this year & is still coherent & has a memory that is working great)
What you could buy for a dollar when she was young would cost you up to 100 dollars today.

More to this time period, it takes more money to buy today , what you could buy with that amount in 1982 !
http://www.1980sflashback.com/1982/Economy.asp

THis inflation hits & hurts the poor first, it robs the middle class & anyone with retirement savings , savings of any type as well. The money you put away 10 years ago will not buy as much today as then & more often than not will not have earned enough interest to offset its losss of purchasing power.
Working people who's salary/pay cannot keep up to inflation lose purchasing power as the money becomes worth less & less

Physical Gold & Silver rises above inflated fiat currencies. along with anything else of real value

Never forget .... in 5000 years every single fiat currency on this planet has failed. Often catastrophically .

A 1 dollar federal reserve note costs approximately 6 cents for materials printing costs.
A 100 dollar federal reserve note costs exactly the same amount &
A 100 Billion Reserve Bank of Zimbabwean note also cost 6 cents to make & today is worth nothing ,

Like a federal reserve note it came with a promise to pay.... not a guarantee.
Because It has nothing of value backing it, & hyper inflation was caused by the governements fiscally retarded practices, similar to what is going on in the USA & Europe today

unlike gold or precious metals which is finite & cannot be mass created, the printing presses are on high speed and are eroding the purchasing power of your money. causing more & more paper to be needed to buy less goods !

Never forget it is a political ploy aka LIE that inflation isn't under their control.
Governemtn tells you that precious metal/gold based economy is no good....
IF THIS IS TRUE ,why then do Central Banks & Government have large holdings in Gold ?

What is NO GOOD about it is it makes them have to practice restraint, it forces them to be responsible governments & to spend within the means of the country to afford what it can pay for in social programs, Government infastructure & military expenditures.


Those who have only the religious opinions of others in their head & worship them. Have no room for their own thoughts & no room to contemplate anyone elses ideas either-More

leanlifter1
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Response to Liybians move to "Gold Standard" Oct. 9th, 2012 @ 12:07 PM Reply

At 10/9/12 10:50 AM, morefngdbs wrote:
At 10/7/12 09:57 AM, leanlifter1 wrote: http://www.youtube.com/watch?feature=player_embedded&v=GuqZf aj34nc
More bad news for the "PetroDollar" and I say good riddance. What do you think of a Gold standard ?
First off anyone who says the gold standard isn't pertinent in todays economies , doesn't know jack shit about it.

I agree for the fact being that Gold and as well Silver are extremely tangible and pure elements used in the creation of our most sacred and pertinent modern technology's although at the same time a Gold backed currency will not allow Americans, Canadians, Aussies, and Europeans, to enjoy the type of excessive lifestyles they currently are accustomed to. The psychology that currently supported and rewarded needs to change at the foundation IMO alongside any new and corrective steps we as a global society may embrace including but not limited to a Gold standard. That being said it is also my belief that Gold is only a logical medium for wealth storage not currency so as I said it's really the psychology of the people that must change before we as a collective move forward.

Keeps government from OVER SPENDING money they don't have.

We should put the Government on a Gold Standard for a time as punishment for a 100+ year rain of coercion, corruption and cronyism and we the masses will get a crack at the printing press or rather the "Federal Reserve" and put the "debt" back onto the Government just like they have done to us LOL.

THis inflation hits & hurts the poor first, it robs the middle class & anyone with retirement savings , savings of any type as well. The money you put away 10 years ago will not buy as much today as then & more often than not will not have earned enough interest to offset its losss of purchasing power.

Once again the Fasict/Socialist powers that be are systematically eliminating the middle class.

Never forget .... in 5000 years every single fiat currency on this planet has failed. Often catastrophically .

True.


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Response to Liybians move to "Gold Standard" Oct. 10th, 2012 @ 03:46 AM Reply

At 10/9/12 07:05 AM, leanlifter1 wrote: Petrodollar is American fiat dollars that are given to countries in exchange for there Oil resources.

Yes, Oil prices are set in American dollars. What you said prior was actually the reverse of this. Which is why I said you didn't know what the term meant, because your initial post made it appear so.

You seem pretty quick to judge others without you yourself ever giving anything in return as far as relevant information goes.

Pot, meet kettle!

If the value of currency is not based on Oil then what is it based on ?

All kinds of things, inflation, a given country's amount of debt, etc, etc.


You don't have to pass an IQ test to be in the senate. --Mark Pryor, Senator
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leanlifter1
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Response to Liybians move to "Gold Standard" Oct. 10th, 2012 @ 09:15 AM Reply

At 10/10/12 03:46 AM, aviewaskewed wrote:
Yes, Oil prices are set in American dollars. What you said prior was actually the reverse of this. Which is why I said you didn't know what the term meant, because your initial post made it appear so.

No I said the Petrodollar is Currency which it is Currency albeit worthless fiat.

Pot, meet kettle!

You pick apart peoples posts you know are correct because you are scared to admit the truth. What you are doing is also called being an upholder of the statuesque by way or ridiculing those that go against the grain and point out the many flaws in the current system.

If the value of currency is not based on Oil then what is it based on ?
All kinds of things, inflation, a given country's amount of debt, etc, etc.

So you are saying that the value of currency is based on FIAT and nothing of any real tangible value which makes sense as we are seeing the consequences of a debased and really worthless currency in North American society today.


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Response to Liybians move to "Gold Standard" Oct. 10th, 2012 @ 11:01 AM Reply

These conspiracy theories about Libya are as stupid as hell. Dont people know their history? If they did then it would be clearly obvious why they wanted Gaddafi gone, as well as wanting to install a democracy which would be economically beneficial for themselves.

leanlifter1
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Response to Liybians move to "Gold Standard" Oct. 10th, 2012 @ 11:43 AM Reply

At 10/10/12 11:01 AM, BumFodder wrote: These conspiracy theories about Libya are as stupid as hell. Dont people know their history? If they did then it would be clearly obvious why they wanted Gaddafi gone, as well as wanting to install a democracy which would be economically beneficial for themselves.

This thread is not about so called "Conspiracy theories" this thread is about Libya's move to a "Gold Standard".


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Response to Liybians move to "Gold Standard" Oct. 11th, 2012 @ 06:17 AM Reply

At 10/10/12 11:43 AM, leanlifter1 wrote: This thread is not about so called "Conspiracy theories" this thread is about Libya's move to a "Gold Standard".

Did you even watch your own video?

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Response to Liybians move to "Gold Standard" Oct. 11th, 2012 @ 08:11 AM Reply

At 10/10/12 11:43 AM, leanlifter1 wrote:
This thread is not about so called "Conspiracy theories" this thread is about Libya's move to a "Gold Standard".

How much gold for a bride?


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