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I have been in discussions with friends regarding 100% reserve banking and a commodity standard, and I was asked a question that seems simple but has me stumped. It's best to look at it in the form of a hypothetical situation: A country has a gold standard and practices %100 reserve banking (loan...
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Apparently it seems I was banned from commenting further on Krugman's blog. I tried to tell people to read "What Has Government Done To Our Money?" I posted a link to it and the audiobook.
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Will someone please comment on Paul Krugman's latest blog entitled "Modified goldbugism at the WSJ" http://krugman.blogs.nytimes.com/2009/10/09/modified-goldbugism-at-the-wsj/?src=twt&twt=NytimesKrugman if only to enlighten those readers unfamiliar with Austrian economics who would...
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Two things: 1. If gold becomes that valuable, I assume that we would switch to something like silver, platinum, palladium, rhodium, etc. 2. Gold being an element, it could be split into individual atoms, molecules would technically not be needed.
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Hello, Perhaps this is a bit odd, or convoluted but I tend to question the obvious at times. So first a little emperical ground work and some simple guidelines. I'll try to write this in simple generalalities, so give me a brake on the fine points for the time being and as well, think big picture...
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wikipedia article on Great depression ( http://en.wikipedia.org/wiki/Great_depression ) says "Economic studies have indicated that just as the downturn was spread worldwide by the rigidities of the Gold Standard, it was suspending gold convertibility (or devaluing the currency in gold terms) that...
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What is the difference between a Fed raising interest rates while on a gold standard or off? The question came to mind while I was reading Global Capitalism, which stated that "In 1931 The Fed responded to the financial crises in classic gold standard fashion, raising interest rates from 1.5 to...
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Have there been any estimates as to the direction of our economy if the U.S. would have stayed committed to gold? I not really interested in the answer of the benefits of gold versus fiat/devalued money, I'm interested to know how far unemployment, prices and productivity would have fallen if we...
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I love Ron Paul, if only because he's bringing the debate over the Gold Standard kicking and screaming back into American Politics. I hope he gains some political steam, because I bet Obama could give a great, "Cross of Gold" speech that would be fun to watch! However, I was re-reading...
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Hello everyone I would like to ask about savings during deflation Lets assume there is 100% gold standard so that money supply is constant. if the GDP grows it means that prices must go down, for example -3% per year. some people may try to save some money in order to consume more in future. but the...