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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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 Posted: Sun Feb 21, 2010 10:47 pm Post subject: |
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| Ya-ta Boy wrote: |
| I'm always awed that people who really know what is happening in the world of high finance spend their time as internet warriors here at Dave's instead of running national economies. |
+1 |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Mon Feb 22, 2010 12:39 am Post subject: Re: Stay in S. Korea. You really do not want to be in the U |
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| kabrams wrote: |
Hahaha "sheeple". Come on, now. |
In his defense, I'm pretty sure I've met some of them. There's even a Sheeple magazine:
http://www.sheeplemagazine.com/
(^sux) |
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Lionman
Joined: 13 Jul 2009
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| Posted: Mon Feb 22, 2010 1:47 am Post subject: Online biz? |
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| Placeshifter, just out of curiosity, what kind of online biz are you involved in? |
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bacasper
Joined: 26 Mar 2007
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| Posted: Mon Feb 22, 2010 3:00 am Post subject: |
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| visitorq wrote: |
| bacasper wrote: |
| ontheway wrote: |
Reality check:
1) When the dollar collapses, the Korean won will race ahead and hit bottom even before the dollar. |
Will it be the same for the yen, and what currencies might fare better in this future, at least relatively? Are they all doomed, or are there any which are not fiat-based? |
They're all fiat based. Moreover, most gold is in the hands of the global banking establishment. |
So even after all the currencies crash, the banksters will still be in control? I guess they are not morons. If I had all that cash, I'd be buying up gold, too.
| TheUrbanMyth wrote: |
| Ya-ta Boy wrote: |
| I'm always awed that people who really know what is happening in the world of high finance spend their time as internet warriors here at Dave's instead of running national economies. |
+1 |
By your logic then, since you are posting here, you are telling us that you really don't know what is happening in your fields, either. |
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visitorq
Joined: 11 Jan 2008
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| Posted: Mon Feb 22, 2010 6:53 am Post subject: |
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| bacasper wrote: |
| visitorq wrote: |
| bacasper wrote: |
| ontheway wrote: |
Reality check:
1) When the dollar collapses, the Korean won will race ahead and hit bottom even before the dollar. |
Will it be the same for the yen, and what currencies might fare better in this future, at least relatively? Are they all doomed, or are there any which are not fiat-based? |
They're all fiat based. Moreover, most gold is in the hands of the global banking establishment. |
So even after all the currencies crash, the banksters will still be in control? I guess they are not morons. If I had all that cash, I'd be buying up gold, too. |
Pretty much. Part of reason central banking was re-adopted in America in the first place is that unscrupulous financiers (such as Jay Gould) would continually try to corner the gold market, which would cause its value to shoot up (causing monetary deflation). At the same time they would convince the government to pass a coinage act preventing silver from being minted (new discoveries at the time increased the abundance of silver, which should have caused monetary inflation, were it not for government intervention). This combination led to instability, and finally the adoption of the gold standard, which essentially gave the bankers (who controlled most of the gold) the power to engineer panics. They then used this as justification for the creation of the Federal Reserve.
(Incidentally, while the bankers wanted nothing more than a central bank and had planned it all out in secret, at the time they actually pretended that they were opposed to it, even printing articles up in newspapers they controlled to convince the public that the creation of a central bank would "hurt" the money trust. This is sort of like how the insurance companies who wrote Obama's health care "reforms" are pretending to be against it now.)
Long story short, pegging currency to gold works well, but arguably only if competing currencies are allowed. Otherwise, gold can be cornered, leaving no recourse to silver. Having the dollar pegged at a fixed rate to both gold and silver (bimetallism) seems to be unstable (I'm not an expert on this, but this seems to be the consensus among free market economists), so there should instead be separate currencies pegged to either. Obviously gold is the standard metal used to peg currencies to, due its long established value and scarcity, but the relative abundance of silver has traditionally made it much more difficult for banking speculators to corner. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Mon Feb 22, 2010 4:04 pm Post subject: |
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| bacasper wrote: |
| visitorq wrote: |
| bacasper wrote: |
| ontheway wrote: |
Reality check:
1) When the dollar collapses, the Korean won will race ahead and hit bottom even before the dollar. |
Will it be the same for the yen, and what currencies might fare better in this future, at least relatively? Are they all doomed, or are there any which are not fiat-based? |
They're all fiat based. Moreover, most gold is in the hands of the global banking establishment. |
So even after all the currencies crash, the banksters will still be in control? I guess they are not morons. If I had all that cash, I'd be buying up gold, too.
| TheUrbanMyth wrote: |
| Ya-ta Boy wrote: |
| I'm always awed that people who really know what is happening in the world of high finance spend their time as internet warriors here at Dave's instead of running national economies. |
+1 |
By your logic then, since you are posting here, you are telling us that you really don't know what is happening in your fields, either. |
Forget what this forum is about? Just in case you have, it is about TEACHING, not high finance. If Warren Buffet or Bill Gates were to post on a financial message board about becoming rich would you say they don't know what they are talking about? (not that I am comparing myself or anyone here to the above two people...just throwing out an example)
I post on a teaching forum because I've plenty of experience both back home and here. If I were to post about high finance I would post that on an appropriate message board, not here at Dave's.
And I would also make sure that I know what I am talking about. Try it, you might like it. |
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ReeseDog
Joined: 05 Apr 2008
Location: Classified
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| Posted: Mon Feb 22, 2010 6:18 pm Post subject: |
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| jugbandjames wrote: |
| Haha, you used the word sheeple. Now I know I can safely dismiss your opinions. |
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ReeseDog
Joined: 05 Apr 2008
Location: Classified
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| Posted: Mon Feb 22, 2010 6:19 pm Post subject: |
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| Kimbop wrote: |
| Where's Mises? I want this summed up in 50 words or less. |
Man, you called that one! |
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bacasper
Joined: 26 Mar 2007
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| Posted: Mon Feb 22, 2010 7:07 pm Post subject: |
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| TheUrbanMyth wrote: |
Forget what this forum is about? Just in case you have, it is about TEACHING, not high finance. If Warren Buffet or Bill Gates were to post on a financial message board about becoming rich would you say they don't know what they are talking about? (not that I am comparing myself or anyone here to the above two people...just throwing out an example)
I post on a teaching forum because I've plenty of experience both back home and here. If I were to post about high finance I would post that on an appropriate message board, not here at Dave's.
And I would also make sure that I know what I am talking about. Try it, you might like it. |
The vast majority of expats teaching in Korea do NOT have education degrees but represent pretty much all the majors. When someone with a particular major posts on a topic in his field, I expect him to do so with some expertise, and even more so when he has been a professor in that field.
There are any number of reasons why someone might make the switch from his major field of study to teaching ESL in Korea, as well as many different ways and levels of doing the latter.
If you want to talk about teaching, you should be on Job-Related, not CE. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Mon Feb 22, 2010 11:10 pm Post subject: |
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| bacasper wrote: |
| TheUrbanMyth wrote: |
Forget what this forum is about? Just in case you have, it is about TEACHING, not high finance. If Warren Buffet or Bill Gates were to post on a financial message board about becoming rich would you say they don't know what they are talking about? (not that I am comparing myself or anyone here to the above two people...just throwing out an example)
I post on a teaching forum because I've plenty of experience both back home and here. If I were to post about high finance I would post that on an appropriate message board, not here at Dave's.
And I would also make sure that I know what I am talking about. Try it, you might like it. |
The vast majority of expats teaching in Korea do NOT have education degrees but represent pretty much all the majors. When someone with a particular major posts on a topic in his field, I expect him to do so with some expertise, and even more so when he has been a professor in that field.
. |
And which Dave's poster exactly are we talking about here when it comes to high finance? |
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visitorq
Joined: 11 Jan 2008
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| Posted: Mon Feb 22, 2010 11:17 pm Post subject: |
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| TheUrbanMyth wrote: |
| bacasper wrote: |
| TheUrbanMyth wrote: |
Forget what this forum is about? Just in case you have, it is about TEACHING, not high finance. If Warren Buffet or Bill Gates were to post on a financial message board about becoming rich would you say they don't know what they are talking about? (not that I am comparing myself or anyone here to the above two people...just throwing out an example)
I post on a teaching forum because I've plenty of experience both back home and here. If I were to post about high finance I would post that on an appropriate message board, not here at Dave's.
And I would also make sure that I know what I am talking about. Try it, you might like it. |
The vast majority of expats teaching in Korea do NOT have education degrees but represent pretty much all the majors. When someone with a particular major posts on a topic in his field, I expect him to do so with some expertise, and even more so when he has been a professor in that field.
. |
And which Dave's poster exactly are we talking about here when it comes to high finance? |
Just because you don't know about economics doesn't mean others don't either. Nobody on here is claiming to be an economic guru with all the inside knowledge, yet plenty of people read books and articles by experts and do know what they're talking about. Period. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Mon Feb 22, 2010 11:32 pm Post subject: |
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| visitorq wrote: |
| TheUrbanMyth wrote: |
| bacasper wrote: |
| TheUrbanMyth wrote: |
Forget what this forum is about? Just in case you have, it is about TEACHING, not high finance. If Warren Buffet or Bill Gates were to post on a financial message board about becoming rich would you say they don't know what they are talking about? (not that I am comparing myself or anyone here to the above two people...just throwing out an example)
I post on a teaching forum because I've plenty of experience both back home and here. If I were to post about high finance I would post that on an appropriate message board, not here at Dave's.
And I would also make sure that I know what I am talking about. Try it, you might like it. |
The vast majority of expats teaching in Korea do NOT have education degrees but represent pretty much all the majors. When someone with a particular major posts on a topic in his field, I expect him to do so with some expertise, and even more so when he has been a professor in that field.
. |
And which Dave's poster exactly are we talking about here when it comes to high finance? |
Just because you don't know about economics doesn't mean others don't either. Nobody on here is claiming to be an economic guru with all the inside knowledge, yet plenty of people read books and articles by experts and do know what they're talking about. Period. |
Where did I say I don't know about economics? FYI I know enough to tell when someone is talking nonsense. And apparently so does Ya-ta Boy.
Reading books does not make one an expert or qualify them to criticize those who run national economies. |
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visitorq
Joined: 11 Jan 2008
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| Posted: Tue Feb 23, 2010 1:47 am Post subject: |
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| TheUrbanMyth wrote: |
| visitorq wrote: |
| TheUrbanMyth wrote: |
| bacasper wrote: |
| TheUrbanMyth wrote: |
Forget what this forum is about? Just in case you have, it is about TEACHING, not high finance. If Warren Buffet or Bill Gates were to post on a financial message board about becoming rich would you say they don't know what they are talking about? (not that I am comparing myself or anyone here to the above two people...just throwing out an example)
I post on a teaching forum because I've plenty of experience both back home and here. If I were to post about high finance I would post that on an appropriate message board, not here at Dave's.
And I would also make sure that I know what I am talking about. Try it, you might like it. |
The vast majority of expats teaching in Korea do NOT have education degrees but represent pretty much all the majors. When someone with a particular major posts on a topic in his field, I expect him to do so with some expertise, and even more so when he has been a professor in that field.
. |
And which Dave's poster exactly are we talking about here when it comes to high finance? |
Just because you don't know about economics doesn't mean others don't either. Nobody on here is claiming to be an economic guru with all the inside knowledge, yet plenty of people read books and articles by experts and do know what they're talking about. Period. |
Where did I say I don't know about economics? |
You implied it when you wrote that ESL teachers (including yourself) don't know what they're talking about in regards to economics/finance. Obviously.
| Quote: |
| FYI I know enough to tell when someone is talking nonsense. And apparently so does Ya-ta Boy. |
No you don't. You haven't even offered any actual rebuttal.
| Quote: |
| Reading books does not make one an expert or qualify them to criticize those who run national economies. |
Nobody is claiming to be an expert (nice strawman there). Yes, reading and citing books/articles (written by experts) absolutely, obviously, does qualify people to criticize those who run national economies. |
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Tue Feb 23, 2010 3:23 am Post subject: |
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Pshaw!
Anyone with a smidgeon of economic education knows there are a wide variety of 'schools' of thought. When someone comes on the forum and pounds the pulpit for one theory or another without specifying their thoughts as such, is just spanking his own private monkey in public.
Anyone who didn't figure that out in Econ 101 is a fool and doesn't deserve attention on a chat board. Econ is not a science, it is a social science and subject to the weaknesses of those disciplines. What it comes down to as far as I can tell is preferences. |
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visitorq
Joined: 11 Jan 2008
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| Posted: Tue Feb 23, 2010 5:08 am Post subject: |
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| Ya-ta Boy wrote: |
Pshaw!
Anyone with a smidgeon of economic education knows there are a wide variety of 'schools' of thought. When someone comes on the forum and pounds the pulpit for one theory or another without specifying their thoughts as such, is just spanking his own private monkey in public.
Anyone who didn't figure that out in Econ 101 is a fool and doesn't deserve attention on a chat board. Econ is not a science, it is a social science and subject to the weaknesses of those disciplines. What it comes down to as far as I can tell is preferences. |
Okay, by stating that economics basically falls under the "humanities", Ya-ta is implying that economic theory can never be 'true or false', but is merely a matter of interpretation. Facts don't matter.
Evidently he is one of those people he referred to, having a "smidgeon" of education. He himself clearly knows next to nothing about how banking or the monetary system works (or the difference between the 'various schools of thought' he mentioned for that matter), but he still knows enough to declare that Obama's economic policies are infallible. He knows it's true because Keith Olberman and Rachel Maddow even said so.
So don't you dare refer Ya-ta to the facts, because facts don't matter in economics. He is "entitled" to his absurd opinions, whether he formulates a real argument or not, and they are just as valid as anyone else's. |
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