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Should we return to the gold standard?

Stevicus

Veteran Member
Staff member
Premium Member
Here's a story of a country that had to go off the gold standard and switch to turnips.

 

Father

Devourer of Truth
well, all money is eventually going pure digital with no physical currency, however, if such is the case we should just run everything like you would in a MMORPG Economy. don't see world of warcraft dealing with inflation. it seems money holds the same value. we just have to force companies not to mark up goods for more profit and causing the need for more inflation.

it would be better if the state just did its job and pimp slapped businesses when they get uppity.
have a max cap of mark up on goods so they cant monopolize and mark up goods. furthermore, force them to bring production back to America through sanctions and such. raise the minimum wage so people can actually Live without needing to work 3 jobs and since prices will be fixed they cant mark them up and pass the debt off onto the consumer and instead they are forced to take the loss. and when most companies rack in billions a year I think they can spare a few million of a loss in profit

as for Gold standard. its never going back to that. majority of the Gold in Fort Knox, for example, is probably long gone. and as Gold gets more and rarer due to retards, not mining asteroids that would probably cause inflation itself.
 

Shadow Wolf

Certified People sTabber
well, all money is eventually going pure digital with no physical currency, however, if such is the case we should just run everything like you would in a MMORPG Economy. don't see world of warcraft dealing with inflation. it seems money holds the same value. we just have to force companies not to mark up goods for more profit and causing the need for more inflation.
To address your "no inflation," when it was vanilla and BC WoW, making just one gold took some time. You could get mod attention just by having too much. You had to farm gold for your mounts, and it took a long time to do. WoW's economy also exist in a digital world with unlimited resources. Our world does not have this benefit. And then there was D3, which had an economy that become a tweaked out rampaging bull of a runaway train. And drop rates were so low you often had to turn to the auction house to improve your gear to advance, but inflation was "pre-WWII Germanic."
 

Father

Devourer of Truth
To address your "no inflation," when it was vanilla and BC WoW, making just one gold took some time. You could get mod attention just by having too much. You had to farm gold for your mounts, and it took a long time to do. WoW's economy also exist in a digital world with unlimited resources. Our world does not have this benefit. And then there was D3, which had an economy that become a tweaked out rampaging bull of a runaway train. And drop rates were so low you often had to turn to the auction house to improve your gear to advance, but inflation was "pre-WWII Germanic."

most resources we deem rare like diamonds are not that rare. a crater in Russia has enough to flood the market and enough for every human to have a handful. that's one example. its greedy corporations that keep them rare by slowly releasing them into the market and charging ridiculous prices. that's just diamonds.

nor is the material that rare. if we stopped wasting cash on stupid things we could probably already have space mine's up on asteroids. some of them having more gold than there is on earth within a space smaller than the moon.

back to corporations.

other corporations charge the exact same price for a product they cheap out on. just so they can make a bit more profit. we really need some "Mods" to make sure that corporations cant rape the consumer. hints the joke that a bag of lays is just air. they can charge you the exact same price as a bag of chips 20 years ago, possibly even more. for half the product. that's stupid.
 
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sun rise

The world is on fire
Premium Member
The past is prologue?

If they dare to come out in the open field and defend the gold standard as a good thing, we shall fight them to the uttermost, having behind us the producing masses of the nation and the world. Having behind us the commercial interests and the laboring interests and all the toiling masses, we shall answer their demands for a gold standard by saying to them, you shall not press down upon the brow of labor this crown of thorns. You shall not crucify mankind upon a cross of gold.

William Jennings Bryan
 

Shadow Wolf

Certified People sTabber
most resources we deem rare like diamonds are not that rare.
Try saying that in places were water is either very rare or very expensive. Yes, we waste a lot, and we could all have more if we had less. But in reality all resources should be treated as scarce, because they are, they are limited, and we are consuming faster than they Earth can replenish them (same have been exhausted or are close to it).
they can charge you the exact same price as a bag of chips 20 years ago
Just simply due to gas costing more today than it did 20 years ago means they can't. And because the driving population gets bigger every day, the demand for gas is constantly going up. But global resources are going down. That means prices for pretty much everything will keep going up.
 

Enoch07

It's all a sick freaking joke.
Premium Member
Just simply due to gas costing more today than it did 20 years ago means they can't. And because the driving population gets bigger every day, the demand for gas is constantly going up. But global resources are going down. That means prices for pretty much everything will keep going up.

This is the double edged sword of our progress. More people are active longer and live longer now. Back when you was lucky to survive past 30 overpopulation was not a problem. Now more people live longer lives, the avg lifespan is easily doubled to 60+.
 

Father

Devourer of Truth
Gold becomes more rarer due to retards? :confused:
probably grammatical error XD though its not as rare as we assume there are asteroids with tons of it. most would just rather waste funding in some other things instead of space exploration
 

Father

Devourer of Truth
Try saying that in places were water is either very rare or very expensive. Yes, we waste a lot, and we could all have more if we had less. But in reality all resources should be treated as scarce, because they are, they are limited, and we are consuming faster than they Earth can replenish them (same have been exhausted or are close to it).
/QUOTE]

no there is no trying to say anything. such companies PURPOSEFULLY. release small quantities of the diamond just to keep prices high,

furthermore, we can make them ourselves. most diamonds and rare gems sold at this point are more than likely man-made.

nor should any resources be considered scarce other than oil or coal. everything else is up in space. if we can land a robot on an asteroid we can land much more and mine those resources. people would rather just fund save the polar bears or some stupid gimmick instead of space exploration
 

Sunstone

De Diablo Del Fora
Premium Member
How would it exactly do that? :)

Among other things, a gold standard tends to reduce inflation which benefits the rich because it means their money doesn't become less in value. But a gold standard also tends to slow economic expansion, which hurts the poor and middle class -- making it more difficult for the poor to become middle class, and for the middle class to stay middle class or to become rich. Also, a gold standard discourages lending. The rich, as the best credit risks, are not nearly impacted by that to the same extent as is the middle class. That is, the banks will still lend to the rich, but not so much the middle class under a gold standard. That slows the economy, making it more difficult for the poor and middle class to get jobs, raises, etc.

If the US were to convert to a gold standard, potentially millions of people would be thrown out of work as the economy contracted.
 

Enoch07

It's all a sick freaking joke.
Premium Member
The rich, as the best credit risks, are not nearly impacted by that to the same extent as is the middle class. That is, the banks will still lend to the rich, but not so much the middle class under a gold standard. That slows the economy, making it more difficult for the poor and middle class to get jobs, raises, etc

Whether the poor and middle class can get a loan or makes it more difficult to get a job or a raise. How does this make sense at all? Middle class can open small businesses with loans and offer a small amount of jobs. Poor people don't open businesses.

Granted it will make it harder for middle class to get a loan for a house for instance. The poor don't get loans anyways because they can't afford to pay back more money than they borrowed. If they could they wouldn't be poor.
 
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