Korean Job Discussion Forums

[keane]

[mindmetoo]

[ontheway]

[ontheway]

Another way to understand gold and money.

Think about your checking account. You can write a check. When you write a check, the money has to be in the account. No money in the account means the check is a fraud. Bogus. You are a criminal.


Now think about gold. It is in the bank. Paper money is like the check. It is written on the money (the gold) in the bank. If there is no money (gold) in the bank the money is a fraud. It is bogus. The issuer of the phoney paper currency is a criminal.


Now, think about the bad check artist. He writes bad checks, say 100 checks for $1000 on an account that has no funds. He spends the money. He seems to stimulate the economy. The merchants take the bad checks and turn over their goods. They feel successful and richer. They can pass the checks on to other people, each signing the back in turn.

(This used to be common for checks, passing from hand to hand with multiple endorsers. It happens with the bank checks in Korea.)

For as long as the checks circulate without being presented at the bank for payment, the fraud can continue.


The same thing is happening with the dollar today. It circulates along with all the other Fiat currencies. But, when the people finally realize that these currencies are worthless, they will fall to zero.

They are already falling at various rates in continuous half lives becomming microscopic remnants of their former values, robbing the people and transferring the wealth of the citizens who hold these worthless currencies to their predator governments.

They will all collapse eventually. It is inevitable. The question is how bad will the resulting recession/depression be? How much will the government do to make it worse?

[huffdaddy]

[ernie]

[quote="mindmetoo"]
This is not seizing gold for the sake of taking gold. To cite the article you couldn't link:

"In a federal seizure warrant given to the AP by von NotHaus, federal agents allege the money and other properties seized in the raid were linked to money laundering, mail fraud and wire fraud."[/quote]

couldn't link and DIDN'T link are two different things... you asked for a source, not a link...

if the fed claims the company was involved in illegal activities, why have no charges been laid?

[mindmetoo]

[mindmetoo]

[mindmetoo]

[ernie]

and this ^ is what capitalism is all about!

[djsmnc]

I think going back to the pastoral system is better. Selling cows is a far more realistic and comprehendable approach. A cow is a cow. Inflation only comes about when someone tries to sell you a bunch of sick cows at the same value as a few healthy cows. There wouldn't be any issues about marriage either. You got the cows, you got my daughter, homey.

I suppose some geneticists would make a Federal Reserve based on cloning. There would be all these cows out there, but they'd die sooner and have more health issues. Inflation would be rampant. There's just no right way

[ernie]

what about a piece of paper that represents a cow? a 'cow standard' is certainly better than no standard at all, i.e. a corrupted fiat system!

[djsmnc]

You know, it would add a whole new twist to the phrase "Eating the profits" Then you could give it an Indian twist and say "Eating the prophets"

Ben and Jerry's ice cream would sure be flashing a lot of bling.

Cowboys would be irritated that hip-hoppers stole their imagery to flash all over hip hop videos. "Leather and cow fur ni**a!"

I think the cattle standard would work.

[thepeel]

Fractional reserve banking is controversial, at best. However, there have been very high rates of economic growth under this system (though, maybe not because of this system) and as long as people don't really question it too much it should function just fine.

[keane]