Should the USD be abolished?

[Larson]

Gold is hammering at 1400. There must be a good reason. Wall st. shills vs. crackpots, take your pick.

 

[intradaybill]

Quote from clacy:

Why is it that crack pots are drawn to this forum? It seems as though 80% of the people here believe that if the Fed were abolished and we went to the gold standard, all things wrong in the world would magically become good.

Better, yet, maybe we should go back to trading sea shells and spices for currency.

Yes, there are many crackpots. The gold standard was a way of enslaving people under those who had the metal. Fiat currency is one of the biggest accomplishments of the free world. Of course, this does not mean that it must be abused. But these cranks do not understand that going back to a gold standard is going back to worldwide povetry levels.

Now, the motives. Behind the motives of those who scream for a gold standard is mostly a hidden Marxist agenda. Marxism is tautological to Fascism. The many are ruled by the few. The few have the gold and they are the rulers.

I say Bernanke has not printed enough. A slap on the face of Marxism and Fascism will be another 1 trillion. Inflation will transfer wealth from lenders to borrowers. This is effective wealth redistribution. It is funny that Marxist always align with Fascists in their war against democracy. The EU for example is a fascist state controlled by Germans. Chine is a Marxist (close to) state controlled by vicious oligarchs who put 7 year old kids to work for $1 a day.

USA is the shield against the monstrosity that EU and China are trying to enforce on the world and the USD is the means of destroying their plans.

 

[jprad]

Quote from Random.Capital:

They aren't going to do that until the global economy puts a gun to their head. China is terrified of having a legitimate currency - and rightly so, as it would implode their economy.

+1

 

[jprad]

Quote from Larson:

Gold is hammering at 1400. There must be a good reason. Wall st. shills vs. crackpots, take your pick.

So, you think this is somehow different than when oil was trading around $140/bbl?

 

[Random.Capital]

Quote from jprad:

So, you think this is somehow different than when oil was trading around $140/bbl?

Yes. Oil has an actual use. Gold is almost pure speculation.

 

[ElectricSavant]

I am deeply involved with this forum and these posts from these posters that are said to be insane.

I think that to deal with this world and what lies ahead screams out for the insanity of the realty that is.

Yes maybe i am insane..Yes maybe satire is the only way for me to deal with this.

Thank you EliteTrader and the wonderful posters here.

Please continue to write passages that give me a foresight to understand with.

ElectricSavant

 

[jprad]

Quote from Random.Capital:

Yes. Oil has an actual use. Gold is almost pure speculation.

Bullshit.

Everything traded on speculation will over/under shoot its intrinsic value at some point in time.

The rub is that it takes time before you have the perspective to see how far it deviated.

 

[Random.Capital]

Quote from jprad:

Bullshit.

Which part, exactly - that oil is heavily purchased to be used as a product, or that gold isn't?

Everything traded on speculation will over/under shoot its intrinsic value at some point in time.

Never stated otherwise.

 

[jprad]

Quote from Random.Capital:

Which part, exactly - that oil is heavily purchased to be used as a product, or that gold isn't?

The collapse in the price of crude from over $140/bbl is more than enough proof that its price is not based only on consumption.

The same with gold, it can't be only speculation when 60% of annual production is consumed by the jewelery and manufacturing industries.

 

[Random.Capital]

Quote from jprad:

The collapse in the price of crude from over $140/bbl is more than enough proof that its price is not based only on consumption.

I never made any claim to the contrary.

Who, exactly, are you arguing with?