maple_leafs182

The gold standard was abused in the 20's. There was a huge expansion of credit which fueled the stock market bubble. If there was a true gold standard you wouldn't be able to have things like fractional reserve banking which allows banks to create credit out of nothing. Also, the Fed was established in 1913, it played a key role in expanding the money supply in the 20's. Look at what happened in 71 or 72 when Nixon took America off the gold standard...there was more dollars in circulation then the amount of gold America had to back it which means the gold standard was being abused prior to that. I don't understand exactly what happened but let me see if I got this, China minted or spent so many silver coins that it lead to silver devaluing? So there was an increase in the amount of silver circulating...that is supply and demand, the more supply the less it is worth. That is a result of inflating the money supply not deflating it. It isn't just Ron Paul, it is Austrian Economics. Edit: Wait, a gold standard is free market capitalism.

What happened to the Roman Empire? Medieval Europe was full of Authoritarian dictatorships, they didn't live in a free society, free society is a relatively new concept. When central banks print money it devalues the currency, that isn't junk economics that is common knowledge. Where do you think the value of the dollars that went to bail out all the banks, corporations and other governments came from...they steal the value of the other dollars in existence. Who gets hurt the most when prices rise, the middle and lower classes. The rich benefit from rising prices because it leads to higher profit margins for the corporations they own. It isn't junk economics understanding the monetary system. Why don't you look at America in the 1800's when they were under a gold standard and free from the clutches of a central bank, that is when America was the most prosperous. I am not claiming that a gold standard leads to equality but it prevents people wealth from being stolen threw inflation.

Why do you care if people do drugs. Why are you against freedom.

Greece and those banks should go bankrupt. I don't understand why we bail banks out for making bad bets. Why did we turn our back on free market capitalism.

I don't want state socialism, I don't want the government to redistribute wealth. The reason the gap has became so large is because the monetary system is fundamentally flawed. Having a central bank and fiat currencies favours the large government, banks and coprorations. The monetary system is at fault for stealing the wealth from the many and give it to the few. It has nothing to do with being jealous when the game is rigged.

I'm a student so it is free to use my debit card as much as I want.

http://www.youtube.com/watch?v=lqN3amj6AcE&feature=feedlik Awesome video of what this trader thinks about the economy and its future.

Inflation always hurts the savers. Even if people are making some interest in banks or bonds, the purchasing power of those dollars are still being taken away. Why is that okay? I am in the middle class, I never went on a credit binge, why should I have to pay for other peoples debt problems, why should my wealth be stolen?

Because inflation is killing the middle class. Why do you think it is okay to steal peoples savings by inflating the currency and who does that benefit?

Okay, I get what you are saying. Selling it when it was higher would of been more profitable. I don't play the market short term, I see long term trends and I stick with them. Also, I could not of predicted what the monetary policy the Fed would take and its effects, I wish I was that smart.I am in it for the long run, I really do believe we will see another injection of cash in the economy soon and I don't see the global economy getting better any time soon. The CPI takes the average rate of year to year price increases of certain items. From what I have come to understand is gold and silver react faster to monetary policy then other items. Their inflation and deflation rates are higher then the average. Also, the CPI is manipulated or I don't agree with how the CPI is calculated. I believe these charts are more accurate. http://www.shadowstats.com/alternate_data/inflation-charts Do you guys really think that certain monetary polices and some monetary policies details should be kept secret from the public? IMO I think this is by far the stupidest thing we do as a society...K, maybe not, it is a close first and second between keeping monetary policy secret and killing other people for their resources.

You are wrong.

Yeah, this kind of stuff makes me sad. I don't understand why so money people want a fiat currency even though it probably hurts our society the most.

I'm all for getting rid of the UN, while we are at it can we get rid of the WTO, IMF, World Bank, BIS, the G8 and G20, Harper, Nato, NAFTA. And I don't want the UN to be replaced with something similar, I prefer national sovereignty.

Your government along with your central bank keep pumping hundreds of billions of dollars into your economy. That isn't a sign of a strong or healthy economy. Just because you see a higher GDP does not necessarily mean your economy is growing.

Yes, people don't seem to realize that the average life expectancy for a fiat currency is only 27 years.

Most of my silver I bought when it was under $20 so I'm still up. As for hope, I wouldn't call it that. If you study austrian economics you would see what I see.

Silver bullion

I don't think so. I am not saying silver can't fall any more or it wont fall anymore. However I still strongly believe that in the long term it will be up. Right now the USD is where people are fleeing to for safety, there will be a point where people will be fleeing from the dollar, that is when things like gold and silver will shine. The US economy is in terrible shape but it seems like Europe may implode first which is good for the USD.

I just bought some more silver today, I have never seen such large lineups for people buying silver. I think we will see a big bounce up shortly.

I will make my prediction for the near future. Since the US dollar is showing a lot of strength right now, I think that will be enough for Bernake to continue on with his weak dollar policies. I have been saying that there would be a QE3 by end of this year and I will stick to that...it might not be called QE3 but there will be a large amount of dollars injected into the economy at some point.

30 years ago...not born yet. Well I haven't really payed much attention to the economy until about 3-4 years ago and since then it has gone exactly the direction I expected. One thing I learned is don't believe what Ben Bernake or what governments have to says about the future of the economy. I try to listen to the people who predicted the recession in '08 and who have been pretty bang on in predicting what the economy would look like now. People Like Ron Paul, Peter Schiff, Marc Faber, Gerald Celente, and Jim Rogers...people who clearly understand the economy since they have been consistently right. They all see the economy getting worse over time.

The Fed just announced it was going to use the money it had in short term treasury bills and invest it into long term bonds to keep long term interest rates down and bring short term interest rates up. Might not be a good time to buy long term.

K, do what you wanna do. I stay away from the stock market, to me it is gambling, the only gambling I do is poker.

If your good at short term buying then knock yourself out. I wouldn't hold on to those stocks for the long term though.

So how are the world stock markets doing this year? I think all except 2 are in the negative, but that might of changed.