pierro wrote:
A gold standard causes deflation (highly negative) and only the nations with lots of gold could use it
-The Fed has the ability to control inflation…with a gold standard that ability is kept up to chance (when people find gold money goes down). Also, inflation is by no means a negative (you can check other topics to found out why like here:
http://forums.bf2s.com/viewtopic.php?id=99524)
I just want to say first that I'm not an economist and in fact i just started to look into this subject since i learned about Ron Paul.
But correct me if i'm wrong, how can inflation be positive? You lose buying power and your money is worth less.. Damn even my worthless canadian dollar is worth more than the US dollar right now. The FED is pumping money into the system, lowering interest rates and the result is a weak dollar. I would trust the market a lot more than some guys whose decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of the government.
pierro wrote:
-How do people become part of the federal reserve? It’s because they are appointed by the President and sent through congress…it works sort of like the supreme court. They are given power to prevent great depressions (Paul's non interventionist policies of restricting capital etc...would have exacerbated it...even Milton Freidman agrees) and improve the economy (heaven help us if they do)…which is its mandate acting mostly through interest rates changes, it's more about that then printing money
So how come they were not able to prevent the crash in 1929? And what are they doing now to prevent the collapse of the american economy? By lowering interest rates?
pierro wrote:
-Saying what is going on is wrong (Bush leading America like an empire) doesn’t mean you are right…the fact of the matter is that most of the mainstream (i.e. most democrats and many republicans) are against this sort of “empire”…but ideas like pulling out of the UN won’t solve these problems (also spending in that area is a couple of percents of the GDP so its not like it will fix the economy)
Yea i have to agree that pulling out of the UN is not necessary but how about saving money by starting to take care of America's business first. I'm sorry but don't tell me that the War on Terror is just a couple percents of the GDP and even if it was, all that money sent overseas could have been spent on american soil.
pierro wrote:
-Republicans don’t want to start WW3 (gross generalization)
-Spending money on healthcare and education is a good thing
I said THE republican ie McCain.. that guy is nut. Elect him president and Iran is history and just watch what will happen with Russia
trust me, i live in Canada and socialized health care don't work. Yes it's free but you have to wait a lot longer than what you saw in that Michael Moore movie.
pierro wrote:
-The movie is listed under “conspiracy theories” in the section of the federal reserve in wikipedia…need I say more
-btw, I had watched it already in my younger more innocent years (It was very embarrassing for me when I brought up the points made in the movie to a real economist who utterly destroyed me)
-I'd love to issue a challenge over his other policy issues (almsot all are wrong)...but unfortunately I'm working all of next week so I can't
Yeah wikipedia, the real source of information of the internet. The fact is that movie is very informative and you have to admit that you learned a lot by watching it in your younger years.
Its a question of opinion.. like you said earlier, you think he is wrong but other people will think he's right. I cannot argue a lot on economic issue because i don't know much about that subject but if i had to chose between the market and a bunch of secretive bankers about how to run the economy of my country, i would choose the market.
Everytime they lower the interest rate, the dow skyrocket.. just to go down after a couple of days... Talk about artificial prosperity