(no subject)

[theweaselking]

American lunatics clued in, forcibly, that printing "legal tender" on your fake money doesn't make it so.

Now, if only they can get someone to explain the basics of economics to them, so maybe they'll realise that inflation actually has very little to do with the material backing the currency.

Comments

[silmaril.livejournal.com]

When I saw the link earlier, my hands itched with the remembered weight of the Economy 101 textbook I used for an elective in college. I think that weight would be a good way to sink the idea in some thick, thick heads.

I am amused rather than irritated, though.

[chaosrah.livejournal.com]

Wait.. what? Please dumb down for me. Politics hurt my tiny brain.

[theweaselking.livejournal.com]

Short version:

Ron Paul supporters are idiots.

Long version: Ron Paul and Ron Paul supporters believe that the American federal reserve is the tool of the horrible zionist overlords who secretly control the world to advance their horrible Jew plots, and the source of all economic trouble.

They figure that by returning to a gold standard, and having a certain, set amount of physical metal to account for each dollar, that this dollar can be traded for at any time, they can immediately and forever end inflation - because the value of the dollar will be tied to a set amount of gold or silver, and the value of gold NEVER changes, either absolutely or with reference to the value of silver. Never never never.

And since anything that involves Sticking It To The Joooz is good, they're obviously free to ignore all the laws about who's allowed to issue money in the US, and so they've been printing their own "Liberty Dollar". With Ron Paul's face on it.

[eididdy.livejournal.com]

Unless I'm completely mistaken about hearing about this before, that's really not the short version, at least the part about teh evul jooz.

[theweaselking.livejournal.com]

The short version is correct.

These guys are just an example of it.

And you simply can't kick a "federal reserve is evil!" guy without bruising a Minuteman wannabe.

[eididdy.livejournal.com]

My bad, the short version is correct, it was the long version I was having issues with.

[chaosrah.livejournal.com]

Man, I don't know shit about politics. People tell me that Ron Paul supporters are idiots, Ron Paul supporters tell me I'm an idiot if I'm not a Ron Paul supporter. WTF?!?

Thank you for dumbing down for me, though. I laugh that someone put his face on a coin.

[unnamed525.livejournal.com]

It's still blatantly retarded to pay a private corporation, in the currency they print, to print your money for you.

[theweaselking.livejournal.com]

It certainly should keep them from wanting to devalue it.

[unnamed525.livejournal.com]

Apparently, it doesn't, since the dollar is worth something like 4 cents when compared to the 1914 dollar.

[theweaselking.livejournal.com]

You say these things like they're causally related.

[unnamed525.livejournal.com]

Best case senario: they're not doing that good of a job.

[theweaselking.livejournal.com]

Assuming, of course, that:

A) It's their job to maintain the purchasing power of individual dollars rather than to regulate the rate of inevitable inflation in an expanding economy

B) Other methods would have produced a worse result

The Fed aren't perfect, but the gold standard morons are the gold standard of morons.

[fearmeforiampink]

Note also that the same happened pretty much everywhere else, so it's not like they're getting it wrong and there's the way that avoids that problem. Inflation is a part of the way economics works. Note that despite the fact that each dolar is worth far less, in terms of what they have access to, people are far richer.

[mcfnord.livejournal.com]

It's my understanding that currency backed by gold carries a larger threat of deflation, which is more dangerous than inflation, cuz nobody buys stuff that'll cost less later.

Addendum:

[theweaselking.livejournal.com]

... because they don't even understand the question.