Bill Clinton becomes a gold bug

Discussion in 'The Red Room' started by Order2Chaos, May 3, 2010.

  1. Order2Chaos

    Order2Chaos Ultimate... Immortal Administrator

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    http://www.economicpolicyjournal.com/2010/04/hell-has-frozen-over-bill-clinton.html

    [yt=Bill Clinton]LfjBdfKJMO4[/yt]
    :evilpop:
    Order2Chaos, May 3, 2010
    #1
  2. Chris

    Chris Cosmic Horror

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    I bet they do, current fiscal policy is to keep the dollar low for exports.

    I gotta take my hat off to everyone who went gold-crazy years ago.
    Chris, May 3, 2010
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  3. Homebrewer

    Homebrewer Broke-ass grad student

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    Remember when FDR made private ownership of gold illegal and bought it all and then sold it for twice what he bought it for?

    Good times.
    Homebrewer, May 3, 2010
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    • Agree Agree x 2
  4. Chris

    Chris Cosmic Horror

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    I'm still wondering how that was legal.
    Chris, May 3, 2010
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  5. Marso

    Marso High speed, low drag.

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    Thank you.
    Marso, May 3, 2010
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  6. $corp

    $corp Dirty Old Chinaman

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    You will probably also take your hat off to my grandparents, who went gold crazy in the early 40's. :lol:

    But seriously, I can't see how the gold standard could work today. Money is just a number in some bank's computer system. And that number grows indefinitely via interest.

    How would the gold standard work today? Unless you want each thousand dollars to be worth 0.0000000001 ounce of gold or something ridiculous like that. And what if China wants to buy the gold back? I highly doubt the US would allow the chinese to waltz into Ft. Knox and load the gold into trucks and drive off.
    $corp, May 3, 2010
    #6