A trade deficit that shows we make nothing in America anymore and have found a way to get slave labor without importing slaves (We outsource our cotton pickin and duck plucking to you) whether you be in New Delhi or Mexico City you are but a few mouse clicks away.
It all says that the deliberate destruction of our exchange medium will continue and the only way to protect and preserve its value is to invest in the ultimate storehouse of value.....Gold and Silver. Now call up your Communist/Socialist/Republican /Democratic reps and demand that they restore the gold standard and stop the enslavement of generations that are yet unborn.
"As for your Founding Fathers, I have read many of their debates and ideas, more so than most Americans I suspect, and while they accomplished many wonderful things, in the world of finance they were, to be kind, naive ..."
What an arrogant a$$ you are...just over the top!
"Johnny cannot understand that governments/politicans are inherently dishonest."
Au contraire, I start with that premise ... that is why I ask, "who will guard the guards ... ???"
The problem with gold is that is has never prevented that inherent dishonesty ...
The advantage of discarding gold in favour of the current free floating currencies in open competition with other free floating currencies is that while American politicians can be financially dishonest with American citizens, the rest of the nations will punish them for doing so ... and it is this international self-regulating financial system that is accomplishing what gold was supposed to do but always failed to do ...
As for your Founding Fathers, I have read many of their debates and ideas, more so than most Americans I suspect, and while they accomplished many wonderful things, in the world of finance they were, to be kind, naive ...
Johnny cannot understand that governments/politicans are inherently dishonest. That the only restraint that man has found that works is gold. He sould read some of the founding fathers works, where they debate over the different systems of government and the way they work and their shortcommings.
This is not rocket science, but to a person like johhny it puts doubts into all that he has been taught. Cant have that you know
Coinage works fine until somebody sitting on a throne somewhere decides to try and pull a fast one...
A currency is just that. Money is what currency is compared to so it can be determined what's the buying power of the currency at that moment in time. That is why currency values fluctuate regarding their redeemable value in gold or silver...or copper or nickel or salt or whatever.
I fear that you are correct, and hope that you are wrong.
I agree with you to some extent. That's why I have "insurance".
Allow me to be ambivalent. We are betwee the devil and the deep blue sea, aren't we?
"made possible because we don't suffer under a gold standard among other things"
So instead we suffer under a currency debasement policy and skyrocketing national and private debt!
"The trick is to balance somewhere in between these two extremes. A trick the Fed has managed pretty well so far"
All the fed knows how to do is print money...there is no balancing, just looking at the tea leaves and coming up with the same bankster pocket lining solution...print more money!
Yes, we do not suffer as much as we did but anyone who does not want to recognize the fact that things are getting out of hand will have to stare into their granchildrens eyes and try to explain why it's all gone to hell and they will have to spend their lives paying for a declining standard of living for them and their kids...
Have you ever studied your own family history? Try it sometime. Even if they were well-to-do, your ancestors suffered much that today we would find unbearable. I'd like you to have that intense debate with your great-grandfather, or maybe one of his children.
In my view, much of the technological growth was ultimately possible because of economic growth, made possible because we don't suffer under a gold standard among other things.
A currency shortage can be just as bad as hyperinflation. The trick is to balance somewhere in between these two extremes. A trick the Fed has managed pretty well so far.
None of us alive today has ever seen either of these in the US.
Not to say it can't happen, I just hope it doesn't!