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The Oracle

Should the United States bring back the gold standard?

Jack:

ABSO-FRIGGIN'-LUTELY!

However, that would be the SENSIBLE thing to do. Since no one in Washington DC is sensible, why should we bother to discuss it?

Just go out an buy some gold and spirit it away. It is cheap insurance for the rest of your (questionable) investment portfolio.

The Oracle:

The Pooracle Oracle does not even have money to buy a file folder for my "investment portfolio".........but I agree, we need to bring it back. CAN we?

The Oracle:

(Oh, as far as spiriting some away, I heard a good rule of thumb (in adition to a years supply of food, etc) is to have your body weight in gold.........) ((roughly, I know this might be a problem for delila))

Little:

absolutely... but the international banking cartels will never allow it... remember... the federal reserve is NOT a government agency... it is a privately held corporation... the upper elite of the world control our money, finance with interest and the value of such...

The Oracle:

It's quasi-governmental. Or maybe I should just say mental.

Little:

it is mental... we are doing the SAME exact thing that caused the revolution...

RES:

There is not enough gold on the planet to represent our wealth. I would like to see our coins made of a gold alloy. It would make counterfeiting those 50 dollar dimes hard to counterfeit.

The Oracle:

I think it's about 10 billion ounces or volume-wise, roughly one third of the Washington National Monument. You're right- there 'aint too much. Thank you.

Globally Interested:

If we put the country back on the gold standard that would place a limit on our money supply. If you limit the money supply you limit our ability to compete in the global market. Oil may be expensive, but what if we didn't have the money to buy it?

The Oracle:

Interesting observation....thanks for your input.

Jack:

So you are one in favor or INFLATION of the money supply?

Oh brother.

Globally Interested:

Scott, you will notice, overtime, we have an increasing GDP. In other words, an increasing supply of goods and services. If there is no demand for these products, what good are they. If there is no money to buy them, then there is no demand. To maintain demand we must also maintain money supply in order to facilitate efficient distribution. A stagnant money supply would stifle growth. A growing economy needs a growing money supply.

Porkenstein AKA Pork, Porky, Porkens:

I guess if you want to lower our standard of living for a meaningles ideal. Fiat money seems to be working fine IMHO.

Jack:

Kindly name ONE nation in the history of the world that ever avoided inflation of their fait money.

I suppose that I have a very long wait ahead of me. ;-)

Globally Interested:

Good point, Scott. Now, can you name a nation that has kept the gold standard?

Porkenstein AKA Pork, Porky, Porkens:

Boo yah!

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