Trump craps the bed

[futurecurrents]

Wages are too high!

I'm surprised that more is not being made of that particularly stupid statement.

 

[achilles28]

thank you for that information. I didn't know you had inside info from lesbians and blacks. Tell us more what the "Blacks" you talk to have to say about Hillary.

80% of blacks lean democrat. So theyll vote for that swine hillary. Lesbians love Hillary because Hillarys a dike who puts diversity quotas above merit. Whats not to get?

 

[Frederick Foresight]

Wages are too high!

On a related note:

 

[futurecurrents]

80% of blacks lean democrat. So theyll vote for that swine hillary. Lesbians love Hillary because Hillarys a dike who puts diversity quotas above merit. Whats not to get?

Yes, lesbians love her because she is a porcine, black-loving, water withholding wall.

 

[piezoe]

http://www.foxnews.com/opinion/2011/08/15/forty-years-ago-today-nixon-took-us-off-gold-standard.html

John Maynard Keynes, the famous economist, once wrote, in "The Economic Consequences of the Peace":

“There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

Some presidents have such reservoirs of good popular will that, even if caught out, they can survive intact even impeachment by the House of Representatives. William Jefferson Clinton, notwithstanding certain misbehavior certainly unbecoming of his high office, was so esteemed for the prosperity his free trade, welfare reform policies had engendered that he was able to weather impeachment and achieve acquittal.

But not Nixon. Why might that be? It was almost as if he were hexed. Was he?

Thomas Paine was the visionary, and some might say prophet, who precipitated the American Revolution and in his continuing writings gave it inspiration, direction, and meaning: liberty, dignity and integrity. Paine is remembered for writing phrases such as "These are the times that try men's souls," and "Tyranny, like Hell, is not easily conquered."

Paine also wrote an almost unknown tract 1786 collected as "Dissertations on government, the affairs of the bank, and paper money." For example:

“Gold and silver are the emissions of nature: paper is the emission of art. The value of gold and silver is ascertained by the quantity which nature has made in the earth. We cannot make that quantity more or less than it is, and therefore the value being dependent upon the quantity, depends not on man. …

“Paper, considered as a material whereof to make money, has none of the requisite qualities in it. It is too plentiful, and too easily come at. It can be had anywhere, and for a trifle.
…
“Money, when considered as the fruit of many years' industry, as the reward of labor, sweat and toil, as the widow's dowry and children's portion, and as the means of procuring the necessaries and alleviating the afflictions of life, and making old age a scene of rest, has something in it sacred that is not to be sported with, or trusted to the airy bubble of paper currency.”

Paine savagely indicted paper money.

“It was horrid to see, and hurtful to recollect, how loose the principles of justice were left, by means of the paper emissions during the war. The experience then had should be a warning to any assembly how they venture to open such a dangerous door again. ...

“But the evils of paper money have no end. Its uncertain and fluctuating value is continually awakening or creating new schemes of deceit. Every principle of justice is put to the rack, and the bond of society dissolved. The suppression, therefore, of paper money might very properly have been put into the act for preventing vice and immorality.”

Paine called for the strongest penalties for an official who might connive at going off the gold standard:

“As to the assumed authority of any assembly in making paper money, or paper of any kind, a legal tender, or in other language, a compulsive payment, it is a most presumptuous attempt at arbitrary power. There can be no such power in a republican government: the people have no freedom — and property no security — where this practice can be acted: and the committee who shall bring in a report for this purpose, or the member who moves for it, and he who seconds it merits impeachment, and sooner or later may expect it.”

“… [M]erits impeachment, and sooner or later may expect it,” wrote the prophet of the American Revolution.

And now you know the rest of the story. If only Richard Nixon had credited Paine’s prophecy and left the gold standard in place he might have finished out his second term and left office with his dignity intact.

Ralph Benko, an attorney and former junior Reagan White House official, is the senior advisor, economics to the American Principles Project’s Gold Standard 2012; editor of The Lehrman Institute’s definitive gold standard website; weekly contributor of “A Golden Age” to Forbes.com; proprietor of Facebook’s Gold Standard page, and is a Tea Party Patriot. He is the author of the award-winning cult classic on Web-based advocacy, The Websters' Dictionary.

"And now you know the rest of the story. If only Richard Nixon had credited Paine’s prophecy and left the gold standard in place he might have finished out his second term and left office with his dignity intact."


This is absurd. It is surely one of the most ridiculous statements I have ever encountered. To suggest that Nixon would have been impeached and convicted because he took the nation off the gold standard is nothing short of asinine.

The idea of the gold standard is that if you can maintain the price of gold constant in your currency, then the value of your currency, relative to gold at least, will not change. The mechanism for maintaining the gold price constant is to exchange you currency for gold at a constant price. The price set was $35/Oz. (If gold sells for a different price elsewhere. you won't be able to maintain the power of your currency to purchase gold at a constant price.) That is exactly what happened to the U.S.; just as predicted would happen by many economists, chiefly Keynes.

 

[ETcallhome]

laugh if you want. Obama's dream is to play golf. Trump's dream is to build golf resorts.

All you have to ask yourself is how much money does Obama spend on golf? And how much has Trump made on golf? And how much of that on both sides was taxpayer money?

 

[jem]

When you got the law on your side, argue the law. When you got the facts on your side, argue the facts. When you have nothing... bang the table and make a lot of noise... (or pick some irrelevant point and make a lot of noise.)

The point is there needs to be a standard, so that the privately owned federal reserve bank can not further destroy the working peoples standard of living by electronically creating trillions of dollars and sending them all over the world and thereby devaluing the dollar another 700 percent in 50 years.

Maybe we can at least start to set up a standard by tracking M3 again.
You realize the Fed doesn't even track M3 for us anymore.

"And now you know the rest of the story. If only Richard Nixon had credited Paine’s prophecy and left the gold standard in place he might have finished out his second term and left office with his dignity intact."


This is absurd. It is surely one of the most ridiculous statements I have ever encountered. To suggest that Nixon would have been impeached and convicted because he took the nation off the gold standard is nothing short of asinine.

The idea of the gold standard is that if you can maintain the price of gold constant in your currency, then the value of your currency, relative to gold at least, will not change. The mechanism for maintaining the gold price constant is to exchange you currency for gold at a constant price. The price set was $35/Oz. (If gold sells for a different price elsewhere. you won't be able to maintain the power of your currency to purchase gold at a constant price.) That is exactly what happened to the U.S.; just as predicted would happen by many economists, chiefly Keynes.

 

[piezoe]

When you got the law on your side, argue the law. When you got the facts on your side, argue the facts. When you have nothing... bang the table and make a lot of noise... (or pick some irrelevant point and make a lot of noise.)

The point is there needs to be a standard, so that the privately owned federal reserve bank can not further destroy the working peoples standard of living by electronically creating trillions of dollars and sending them all over the world and thereby devaluing the dollar another 700 percent in 50 years.

Maybe we can at least start to set up a standard by tracking M3 again.
You realize the Fed doesn't even track M3 for us anymore.

If you want a currency standard than suggest a standard and a mechanism that will work in today's world, i.e., be widely accepted by other nations.. No one else has been able to. You could be the first!

The Fed is not privately owned. To say that is ridiculous and weakens all your arguments. That is a fact, so it's you who are raising your voice and banging the table. Furthermore you are blaming the fed for all kinds of things they are not responsible for. Yes, they send dollars all over the world, but they are not the ones to make that necessary. That goes back to the U.S. dollar being the reserve currency which was an outcome of the Bretton Woods conference where the chief U.S.negotiator was not the Fed chairman, but Harry Dexter White who was representing the U.S. Treasury Department. The Congress makes decisions that underlie the things you are blaming the Fed for -- for example, inflation which is linked to deficits! You are blaming the Fed for things they must do to carry out their mandate. If you what to blame them for something, then find something where they have a reasonable choice in the matter. There are plenty of legitimate things you could blame on past Fed policy. Why not identify some of these things. You can try to second guess the Fed, like all those Wall Street Hedge fund jockeys, who managed to pull down a 4% return last year. (Personally, I'd put my money on the Fed as far more likely to get it right.)

 

[fhl]

(Personally, I'd put my money on the Fed as far more likely to get it right.)

That dollar has only lost 96.2% of its value since the fed was created.

Nice choice of investments piezoe.

 

[piezoe]

That dollar has only lost 96.2% of its value since the fed was created.

Nice choice of investments piezoe.

So what. The dollar has also declined in value by 96% since the first prize was inserted into a Cracker Jack Box. So, moron, are you now going to claim that Cracker Jacks are responsible for inflation.