Andrew Jackson has been dead for 150 years. What possible relevance does a 19th century politician have to 21st century economics? Look up "supply and demand" if you wish to understand why the price of oil has gone up. Look up "peak oil" if you wish to understand why it is only going to get worse and there is nothing we can do about it. More 19th century thinking. There is not enough gold in the world to account for the value of 21st century assets. Nonsense. The dollar is still the worlds most used and respected currency. You are easily frightened.
Pay attention homie. I never said the Fed was good. I said his position that it should be audited is stupid. It is political grandstanding. First there are no standards you could audit Fed activities against. Second no accounting firm has the resources or experience to pull off an audit that big and that complex. Relevant how? Again, I made no comment on current foreign policy. I said Paul's positions are stupid. You cannot confine your activities to our own borders when our intersts extend beyond them. It is that simple. Try to stay on track. No, we are over there to destroy terrorism and promote democracy. That makes sense considering you think the government secretly conspires to murder citizens by the thousands. No I won't. No we aren't. No it isn't.
I have heard talk that some countries want to dismiss the dollar as the worlds reserve currency because of the fed printing money out of thin air. Meetings have already taken place between OPEC ,china and Russia discussing this. Again this was what I heard on the radio at work. Does anyone believe this will happen? It was said inflation would hit 100% if this happened. It would seam that this would put the worlds economy in shambles. Anyone else heard this or think it will happen?
First of all, wasn't that ruling appealed? While the appeal is underway isn't the government required to adhere to the law currently on the books? Secondly, doesn't it the language in the Justice Department's statement strike you as odd? I am a long way from being a legal expert but how in the world can Obama come out and say he "decided" it was unconstitutional? He is not a judge. [ame=http://en.wikipedia.org/wiki/Defense_of_Marriage_Act]Defense of Marriage Act - Wikipedia, the free encyclopedia[/ame]
Regarding Jackson....I don't know that how long he has been dead is really relevant, is it? The Constitution is an old document.....the Magna Carta....the Bible.....The Julian Calendar......how is the age of the person or document relevant? The ideas, concepts, principles or whatever you want to call them are either good ideas and funtional or not. Geometry has been around for a long time....it's still helpful.... The point being the US economy survived without a central bank for a longer period of time and even prospered. The idea that the US must have a private central bank does not seem to be helping the nation. The dollar has lost 90 percent of it's value since 1913. I don't think that has been to our advantage. (The average citizen) Regarding the price of oil, I would say the price of oil rose initially because of the oil embargo by OPEC. This was a direct result of US foreign policy in the Middle East, favoring Israel. Also, lately it seems the price of oil is moving in the opposite direction of the value of the dollar. Oil isn't necessarily worth more...our dollars are just worth less. Peak oil is b.s.......I think the term "fossil fuels" is a total misnomer. You probably know a lot more about this topic than I do so I would be interested to know if you dismiss the idea of abiotic oil. Don't the Russian's success with deep drilling lend credence to the idea of "abiotic" oil? There is plently of gold to account for the value of assets....it would just mean the price of gold would have to be much higher than it is now. I have to point out the price of gold has been in a bull market that according to many reputable analyst could see the price of any ounce of gold end up being $10,000 an ounce. If the dollar is the world's most respected currency why is it having such difficulty rising in value with all the political unrest in the world? What happened to the safe haven play? Why is FED forced to buy the T-bills that the Chinese/Japanese/(insert market participant's name of choice) won't buy? If the dollar were such a great investment the FED would not have to do this, would they? As far as being frightened....I think you missed my point..... which is probably because I have done such a poor job of making it. I think the talking heads on CNBC talk massive amounts of disinformation to manage the public's view of the economy at large. The unemployment rate for example.....they (the gov't) claim it went down. What a joke, they got that by dropping the number of people looking for work. I don't really think the US workforce actually got smaller since the last time, do you?
As the Euro establishes a history of steadiness and the parent countries seem solid and stable, countries will diversify and hold more Euros, just like they did the Franc and the Mark before them. But in terms of long-term stability, the US has not been conquered and occupied in over 200 years and the prospects of this happening are non-existent. Europe, Russia, and China were all overrun and occupied less than 60 years ago and their economies shattered. It hasn't been that long since the Cold War. We have never had a coup or a revolution and our civil war was settled satisfactorily and actually strengthened the nation. Our economic development from 1776 to present is unprecedented. Commercial buildings in America tend to be made out of cinderblock and framing. Commercial buildings in Europe favor reinforced concrete. Why? Because major continental war roll through Europe every fifty years or so for as long as there has been a Europe. The reinforced concrete buildings mostly survived WWII. It's a major reason that every country in the world invests in America. We have no fear of invasion, our economy has always grown, and our government is the most stable on earth. The USA ain't going nowhere anytime soon. Who said? How does he support such a statement? These are rumors without source. Ignore them.
The complexity of the modern world and its economy was undreamed of centuries ago. They have little relevance at all. The federal reserve has kept the US out of depression for over 70 years. It is envied by many nations. Read what Politifact says about that Tea-party statement. http://politifact.com/virginia/statements/2010/nov/24/virginia-tea-party-patriots/virginia-tea-party-says-dollar-has-lost-98-percent/ So let’s look back over the facts. No doubt, the value of a dollar has plummeted since 1913, when milk cost eight cents a quart. The Tea Party’s says the buck has dropped by 98 percent, but its use of the gold standard to measure the greenback is not a relevant gauge. Using the Consumer Price index, as many economists recommend, we find the dollar fell by 95 percent since 1913. So the Tea Party, despite its disputed methods, wound up with a figure that’s in the ballpark. But in bemoaning the drop in value of a dollar, the Tea Party omits a huge mitigating factor: salaries have grown enormously since 1913 and consumers have more to spend. If the Fed’s historic handling of inflation is to be blamed for the drop in the dollar, it must be credited for the rise in wages. We rate the claim Half True. This is a profoundly ridiculous statement. Make your case in another thread and I'll demolish it. Oil is universally accepted as a fossil fuel no matter how deep it is found. There is no evidence to date of abiogenic petroleum (liquid crude oil and long-chain hydrocarbon compounds) formed abiogenically within the crust, which is the essential prediction of the abiogenic petroleum theory. The total amount of gold that has ever been mined has been estimated at around 3.5 billion ounces. In the U.S. alone, where more than $8.3 trillion is in circulation or in deposit, this would require an ounce of gold to be worth $237 billion and we would have to possess all the worlds gold. When you consider that the world GDP is $74 Trillion, it becomes preposterous to consider making gold or anything that expensive. It would preclude the use of gold for any of its vital uses in electronics, dentistry, and jewelry. It would be too valuable to squander in such fashion. The gold standard is an outdated notion from a simpler time. Cite one reputable analyist. Just once. Look up "floating exchange rate". It's a natural phenomenon in a capitalist economy. The dollar does not and never has risen steadily. What about it? The Chinese have not stopped buying treasury bills, nor have American investors. I think that way about FOXnews. The unemployment rate dropped under 9 percent, this is a fact. The way that unemployment is calculated has not changed. Unemployment goes down = workforce increases by that amount.
The dollar will definitely lose it's status as the reserve currency. It is too advantageous for the US and too disadvantageous for the other major players on the global stage. The US is involved in all kinds of covert manipulations of the global economy and almost outright economic warfare. The entire european debt crises was brought on by a US ratings agency downgrading Greek debt. If the ratings agencies were honest they would have to downgrade the US debt.... People who dismiss the demise of the dollar are suffering from normalcy bias.
You let us know when that happens. What is your point? The crisis was brought on by Greece's impending default. Many US and European agencies downgrading the Greek debt. The smart ones are the first ones. Most of the world recognizes the ability of the US to pay its debts are thousands of times higher than Greece to pay hers. If US debt needed downgrading, it would happen. We call it pragmatism.
First of all....I have to give you credit...you are much better with that quote function. Complete balderdash.....Jefferson stated his belief that bankers were more dangerous than standing armies as well as this gem I hardly think the collective intelligence of the members of the Continental Congress is in any way surpassed by those in Washington today. I think quite the reverse it true.... Stop drinking the koolaid. Bernanke has officially admitted the FED mismanaged the Great Depression and in some ways caused it. And he is not the only one: In "A Monetary History of the United States," Nobel Prize-winning economist Milton Friedman along with coauthor Anna J. Schwartz lay the mega-catastrophe of the Great Depression squarely at the feet of the Federal Reserve. Read more: Bernanke: Federal Reserve caused Great Depression Bernanke: Federal Reserve caused Great Depression Peter Schiff/Bob Chapman/Bill Fleckenstein/Marc Faber/Jim Rogers
