I've never put anyone on ignore. Congrats, I guess there is a first for everything. Petulant trolling child.so what's new on icmag?
I've never put anyone on ignore. Congrats, I guess there is a first for everything. Petulant trolling child.so what's new on icmag?
So. We know this. American's locked American Native Indians on reservations after killing hoards of them. We've napalmed innocent Vietnamese. We've killed Iraqi's by the hoards. Even had slaves once. Does that mean all of our ideas should be negated. No.the entire 'Yugoslav' problem of the 20th century could be blamed on Austria-Hungary.
Please explain how im wrong?
The Croat, Serb, Bosnian feuds were fueled by Austrians and Hungarians to help them maintain power over the 'minorities' in the empire.
PLEASE EXPLAIN HOW WORLD WAR ONE STARTED IF IM WRONG?
You guys have a very poor understanding of politics and the historical significances of MANY historical actions.
Was Hitler born in Germany or the Osterreich?
Facepalm? You guys have such a narrow view of world history.
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If the US backed it's currency in gold individuals would still be able to buy bullion on the open market. Just as they could when we were on the gold standard. Well, that was until FDR attempted to confiscate everyone's gold in 1933. People with the resources moved their gold to Switzerland where individuals could legally own gold bullion
I really don't feel the US would ever go back to a true gold standard anyway. I think the world is going to drop the USD as the reserve currency and trade in local currencies or gold. I'm not trying to get everyone to go along with my investing strategy, but when it's mocked as if it's unreasonable I'll explain it. I'd rather not have everyone jump into metals. Gives me time to acquire larger positions at a cheaper price. The 10y is at 1.95-2%. Real inflation is 8% if you believe the recent CBS report, 6% using the 1990 CPI formula, or 11% if you use 1980 CPI calculations before the BLS started changing the formula to get the desired answer.
This means you are getting anywhere between a -6% and -9% real rate of return sitting in 10y bonds.
Between -8% and -10% yearly real rate of return sitting in a savings account or money market account.
Most equity portfolios nominally return between 3% and 8% (being generous here) which means you're getting between a -8% and -3% real rate of return.
Even the awesome 6% annuities are going to be a negative real rate of return when adjusted for real inflation.
So no matter what paper product one has their money in they are most likely losing significant amounts of purchasing power year to year. Unfortunately with ZIRP locked in and other countries looking to bypass the USD as the reserve currency this is going to get worse. People's savings may not "blow up", but at best evaporate at a steady, and likely accelerating, pace.
If you buy into the BLS's new 2012 CPI calculation (which recently adjusted the formula again) then you'll be able to sleep good at night. IMO an institution that constantly changes a formula to achieve a certain answer is being disingenuous at best. I call it lying and stealing. Yes yes the BLS is a non-partisan entity. Riiiight. The reasoning they give for constantly changing the formula should be an example for obfuscation in Webster's Dictionary.
Why The Consumer Price Index Is Controversial Sounds like today's centrally rigged casino, er, stock market.Inflation from monetary debasement is inflation.I was speaking more to monetizing a welfare/warfare state. Wiemar. Expect these days it's digital 1's and 0's, but the underlying principle of loss of confidence remains the same.
So how is it going so far? We seem a little top heavy at the moment? Middle class disappearing? Fixed income? Savers getting punished? An entire dependent class? Not doing so hot IMO.When poverty is added to the equation, monetary policy success is measured in how well we raise all boats.
This coming from the guy so lost in his arguments he can't see past his own nose let alone read people's posts
All i did was bring up other instances where the Austrian polices were also flawed.you can't be serious?
lest we forget they also invented the glock so every glock related death is austrian?
I dont judge an entire country, i judge their leaderships political actions.how very provincial of you to judge an entire countries people and ideas based on a few snippets...
So how is it going so far? We seem a little top heavy at the moment? Middle class disappearing? Fixed income? Savers getting punished? An entire dependent class? Not doing so hot IMO.
I think a more feasible monetary policy would be government issued fiat instead of the quasi-private debt backed fiat of today. You'll get the inevitable inflation of fiat, but without the debt owed to banking institutions. It would put the control of monetary policy closer to the people instead of in the hands of the "den of vipers." The biggest reason government issued fiat fails is because countries always end up monetizing wars. Fiscal sanity would be a prerequisite.
The only reason I like gold is because of our structural debt problems, ZIRP, and our belief in monetizing debt. I know Paul advocates for a gold standard. I don't necessarily. I like it as an investment and think the global markets will turn back to it as a reserve currency (ie central banks are hoarding gold right now). If a competing metal backed currency emerges it would be good for competition.
Paul would let the market handle recessions. Bad investment decisions would be punished and capital would be reallocated effectively into something productive. The problem with command and control economies is that capital eventually becomes so misallocated by corrupt elitist that the system ceases functioning.
I'll be curious to see what the reality is a few years down the road. I'd bet anything that they go up. If prices do increase I'm sure the two progressive parties will be blaming each other while problem gets worse.Even Obama's health care plan attempts to contain costs, not increase them.
ShroomDr, history is a touchy subject these days. Now it depends on the futuristic event you're predicting (to know what revision of history to reflect.)