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#11
11-08-2007, 05:07 PM
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Re: X-Post: Greenspan supports Gold Standard on Fox Business
[ QUOTE ]
Milton Friedman had it right, monetary growth should be stable, low and predictable without any attempts to fine tune the economy. [/ QUOTE ] Even Milton Friedman eventually recanted and admitted that a gold standard would have been better than his productivity-indexed inflationary policy, because, he acknowledged, government just cannot constrain itself from printing money. 
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#12
11-08-2007, 05:09 PM
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Re: X-Post: Greenspan supports Gold Standard on Fox Business
[ QUOTE ]
[ QUOTE ] blah blah blah This does not imply that wagons > trains and planes. [/ QUOTE ] Which was never claimed. And explicitly NOT claimed. Do you see why? Talk about hilariously struggling to understand something simple. Unreal. Q: Why do we need a central bank? A: Well, you need either a gold standar OR a currency board OR something of that nature to constrain government from over-inflating a fiat money supply. Also, an international gold standard worked very well in the past. I.e. he clearly says you need either something like a central bank or a gold standard, and clearly says that the gold standard worked fine. Like I said, I never said that he supported the gold standard INSTEAD of, or OVER a central bank. You are really reaching. [/ QUOTE ] the title of your post, and the content, imply, at least to me, that greenspan supports a gold standard above and beyond all other options. when you read the text, though, it is clear that he is answering the "why do we need a central bank question" with "we need something to contain inflation, i.e. the central bank. OR we would need something like a gold standard ..." the best thing you linked though was a 40 year old paper he wrote bashing statists and their love of fiat money. i don't think the emphases were his but it is certainly a worthwhile read to see how he used to think. it should be noted though that i believe his views have changed hugely since then and he no longer thinks a pure gold standard is the way to go. i'll look around for his papers that i've seen that convey that thought. good links though. Barron
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#14
11-08-2007, 05:18 PM
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Re: X-Post: Greenspan supports Gold Standard on Fox Business
[ QUOTE ]
[ QUOTE ] lol @ Boro [/ QUOTE ] useless comments like this is a good way to get banned in this forum [/ QUOTE ] It's ok. I lolled at him in Politards. It's just tit-for-tat.
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#15
11-08-2007, 05:29 PM
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Re: X-Post: Greenspan supports Gold Standard on Fox Business
[ QUOTE ]
the title of your post, and the content, imply, at least to me, that greenspan supports a gold standard above and beyond all other options. [/ QUOTE ] Until you read the several posts by me in the thread explaining *exactly* what was meant. [img]/images/graemlins/tongue.gif[/img]
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#16
11-08-2007, 05:34 PM
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Re: X-Post: Greenspan supports Gold Standard on Fox Business
[ QUOTE ]
[ QUOTE ] the title of your post, and the content, imply, at least to me, that greenspan supports a gold standard above and beyond all other options. [/ QUOTE ] Until you read the several posts by me in the thread explaining *exactly* what was meant. [img]/images/graemlins/tongue.gif[/img] [/ QUOTE ] right, which is why i went on with that knowledge in place in my post. in fact the very phrase you quoted implies that it isn't what you meant. Barron
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#17
11-08-2007, 05:36 PM
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Re: X-Post: Greenspan supports Gold Standard on Fox Business
[ QUOTE ]
[ QUOTE ] [ QUOTE ] lol @ Boro [/ QUOTE ] useless comments like this is a good way to get banned in this forum [/ QUOTE ] It's ok. I lolled at him in Politards. It's just tit-for-tat. [/ QUOTE ] yea but it still doesn't add any value...like the post i'm typing now...or the one i quoted etc. etc. i'd like to think that overall ahnuld & evan have done a great job keeping BFI fairly high content/noise ratio. the "lol" posts don't add much so even tit for tats in other forums should probably be kept there. though i do understand your point and it is well taken... and obviously this is tounge in cheek since i'm being a hyporcite by typing this long contentfree post expounding upon the importance of content lol. Barron
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#18
11-08-2007, 05:45 PM
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Re: X-Post: Greenspan supports Gold Standard on Fox Business
Evan hasnt posted on 2+2 is 6 weeks. Last I heard he was moving to the west coast but that was a while ago.
Back to business. Borodog, any idea how much gold would be required to hold if they were to revert back to the last used rate taking inflation into account? Like how many tons that would require? Is there enough gold on earth?
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