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Why We Left The Gold Standard
Going off the gold standard gave the government new tools to steer the economy. If you're not tied to gold, you can adjust the amount of money in the economy if you need to. You can adjust interest rates. http://www.npr.org/blogs/money/2011/...-gold-standard JAM |
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#2
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Why We Left The Gold Standard
"Frank Galikanokus" wrote in message ... Going off the gold standard gave the government new tools to steer the economy. If you're not tied to gold, you can adjust the amount of money in the economy if you need to. You can adjust interest rates. http://www.npr.org/blogs/money/2011/...-gold-standard JAM You can leap tall buildings in a single bound, change the course of mighty rivers, bend steel in your bare hands and totally destroy the economy of the United States! |
#3
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Why We Left The Gold Standard
Some Guy wrote:
"Frank Galikanokus" wrote in message ... Going off the gold standard gave the government new tools to steer the economy. If you're not tied to gold, you can adjust the amount of money in the economy if you need to. You can adjust interest rates. http://www.npr.org/blogs/money/2011/...-gold-standard JAM You can leap tall buildings in a single bound, change the course of mighty rivers, bend steel in your bare hands and totally destroy the economy of the United States! I think this quote from the article makes more sense than you little quip. "Almost all economists agree, the system we have today is better than the gold standard. Not perfect, but much better." What has laid this country low is republican deregulation in 1999 and 2000 and the Bush tax cuts. http://en.wikipedia.org/wiki/Gramm–Leach–Bliley_Act http://www.investopedia.com/terms/f/...ct-of-1999.asp http://en.wikipedia.org/wiki/Commodi...on_Act_of_2000 http://sunlightfoundation.com/blog/2...rnization-act/ http://www.investopedia.com/terms/c/cfma.asp http://www.time.com/time/specials/pa...877331,00.html http://en.wikipedia.org/wiki/Phil_Gramm http://www.nytimes.com/2008/11/17/bu...y/17gramm.html http://dir.salon.com/story/tech/feat...8/wendy_gramm/ http://www.dailykos.com/story/2008/0...nd-Wendy-Gramm http://www.apfn.org/enron/gramm.htm http://en.wikipedia.org/wiki/Credit_default_swap http://en.wikipedia.org/wiki/Derivative_(finance) Or you could look it up for yourself. JAM |
#4
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Why We Left The Gold Standard
On 7/22/2011 10:14 AM, Frank Galikanokus wrote:
Going off the gold standard gave the government new tools to steer the economy. As far as I can tell, at no point in U.S. history did a person holding a dollar denominated debt against the U.S. have a legal right to be paid in a fixed amount of gold per dollar. So by that definition, the U.S. was never on a gold standard. -- Mike Benveniste -- (Clarification Required) You don't have to sort of enhance reality. There is nothing stranger than truth. -- Annie Leibovitz |
#5
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Why We Left The Gold Standard
"Mike Benveniste" wrote in message ... On 7/22/2011 10:14 AM, Frank Galikanokus wrote: Going off the gold standard gave the government new tools to steer the economy. As far as I can tell, at no point in U.S. history did a person holding a dollar denominated debt against the U.S. have a legal right to be paid in a fixed amount of gold per dollar. So by that definition, the U.S. was never on a gold standard. Better recheck your history there, skippy. |
#6
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Why We Left The Gold Standard
On Jul 22, 4:13*pm, Frank Galikanokus
wrote: What has laid this country low is republican deregulation in 1999 and 2000 and the Bush tax cuts. Despite your perpetual liberal slant and Bush-bashing, the real problem is runaway spending. Republicans and Democrats alike feel that it's their job to spend our money, especially if it is beneficial to their constituency, regardless of what it means to the country as a whole. I would love to hear your take on the Carter administration economic policies. Can't blame Bush for them! Oh, and can you also let me know at what point in time the current administration will accept responsibility for their own unpopular and failed policies? How's that stimulus package working out for you? |
#7
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Why We Left The Gold Standard
On 7/22/2011 7:32 PM, Some Guy wrote:
So by that definition, the U.S. was never on a gold standard. Better recheck your history there, skippy. Oh, but I have. Name any date, and I'll demonstrate that the U.S. government could either pay in paper or silver instead. -- Mike Benveniste -- (Clarification Required) You don't have to sort of enhance reality. There is nothing stranger than truth. -- Annie Leibovitz |
#8
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Why We Left The Gold Standard
On Jul 23, 8:21*pm, Mike Benveniste wrote:
On 7/22/2011 7:32 PM, Some Guy wrote: So by that definition, the U.S. was never on a gold standard. Better recheck your history there, skippy. Oh, but I have. *Name any date, and I'll demonstrate that the U.S. government could either pay in paper or silver instead. -- Mike Benveniste -- (Clarification Required) You don't have to sort of enhance reality. There is nothing stranger than truth. -- Annie Leibovitz I'll choose 1893 - please proceed with your demonstration. oly |
#9
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Why We Left The Gold Standard
On Jul 23, 1:15*pm, Jud wrote:
On Jul 22, 4:13*pm, Frank Galikanokus wrote: What has laid this country low is republican deregulation in 1999 and 2000 and the Bush tax cuts. Despite your perpetual liberal slant and Bush-bashing, the real problem is runaway spending. Republicans and Democrats alike feel that it's their job to spend our money, especially if it is beneficial to their constituency, regardless of what it means to the country as a whole. *I would love to hear your take on the Carter administration economic policies. Can't blame Bush for them! Oh, and can you also let me know at what point in time the current administration will accept responsibility for their own unpopular and failed policies? How's that stimulus package working out for you? As is said on Facebook, "LIKE." The current Obama administration has also been dubbed "Carter's Second Term." Now that I've fueled the political fire, I'm going to sit back and watch the fight. Jerry I'm such an a$$hole. |
#10
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Why We Left The Gold Standard
On 7/23/2011 10:31 PM, oly wrote:
I'll choose 1893 - please proceed with your demonstration. Easy enough -- on April 15, 1893, John G. Carlisle recommended suspension of redemption of notes for gold. The law of 1882 gave him this power, and the Sherman Act of 1890 allowed redemption in either gold or silver. In his message asking for repeal of the 1890 Act, President Cleveland noted on August 8th, 1893: Unless Government bonds are to be constantly issued and sold to replenish our exhausted gold, only to be again exhausted, it is apparent that the operation of the silver-purchase law now in force leads in the direction of the entire substitution of silver for the gold in the Government Treasury, and that this must be followed by the payment of all Government obligations in depreciated silver. So from these events, it's clear that the U.S. government felt it had the legal right to redeem in silver. -- Mike Benveniste -- (Clarification Required) You don't have to sort of enhance reality. There is nothing stranger than truth. -- Annie Leibovitz |
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