bobbartop
bobbartop
Joined: Mar 15, 2016
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August 19th, 2016 at 12:04:03 PM permalink
Quote: Ibeatyouraces

We got 10 for $4.35 recently. You've got to shop around!



You can google "who said the best way to destroy the capitalist system is to debauch its currency?" Some quotes attribute it to Keynes, and some attribute it to Lenin. Regardless, you can take all the military might and faith in government that Bill Ryan mentioned and still bring the whole thing to its knees by debauching the currency. It's simple, Bill just doesn't know wtf he's talking about. He should demand a refund on his tuition.
'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.
Ibeatyouraces
Ibeatyouraces
Joined: Jan 12, 2010
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August 19th, 2016 at 12:15:44 PM permalink
Quote: bobbartop

You can google "who said the best way to destroy the capitalist system is to debauch its currency?" Some quotes attribute it to Keynes, and some attribute it to Lenin. Regardless, you can take all the military might and faith in government that Bill Ryan mentioned and still bring the whole thing to its knees by debauching the currency. It's simple, Bill just doesn't know wtf he's talking about. He should demand a refund on his tuition.


WTH does this have to do with my deal on candy bars?
DUHHIIIIIIIII HEARD THAT!
777
777
Joined: Oct 7, 2015
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August 19th, 2016 at 12:16:15 PM permalink
Quote: billryan

Our currency is backed by the full faith of our Government, which is supported by the world's strongest military.
Would you rather have the world's strongest military at your back or a piece of rock?
The gold standard is gone forever, and should have been gone about the time the last dodo departed.
What is the intrinsic value ofgold? Can you eat it? Does it grow? Does it provide shelter?
It's only worth what someone will trade for it? Just like our currency.



If Trump were to become POTUS, and carries out his plan to use Chapter 11 as a mean to negotiate US debt ...

Who would want to buy US Treasury bonds? And on international trades, who would want to accept US currency as a form of payment?
Joeshlabotnik
Joeshlabotnik
Joined: Jul 27, 2016
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August 19th, 2016 at 1:43:20 PM permalink
Quote: billryan

Our currency is backed by the full faith of our Government, which is supported by the world's strongest military.
Would you rather have the world's strongest military at your back or a piece of rock?
The gold standard is gone forever, and should have been gone about the time the last dodo departed.
What is the intrinsic value ofgold? Can you eat it? Does it grow? Does it provide shelter?
It's only worth what someone will trade for it? Just like our currency.



"The full faith of our government" isn't supported by our military. It's supported by the way we do or do not keep our promises. Faith and trustworthiness aren't a matter of force. They're a matter of national integrity. As an example, Russia also has a very strong military, but they have proved themselves untrustworthy. It's not a coincidence that the Russian currency, and the Russian economy, are in the tank as a result.

I'm glad you understand that the gold standard no longer applies. Now, do you understand that that means that the U.S. dollar isn't "backed" by anything? You might not realize that the government doesn't guarantee the worth of the dollar, or that it's worth anything, for that matter. That's what "backed" would be, if it applied.

A strong military may appeal to those whose worship force and its use (testosterone!!!!), but there's no correlation between military force and economic prosperity. Some of the most prosperous countries in the world have no military at all, or a tiny, ceremonial force. Some countries with strong militaries are economic basket cases. It's not about waving your dick around and baring your teeth (or chest, if you're Putin); it's about honoring your commitments and showing integrity.

And by the way, gold has many uses. That's what is meant by intrinsic value. It is highly attractive and decorative. Furthermore, it is one of the most malleable metals on earth, which means it has many industrial uses--think of the very fine gold wire used in computer manufacture. It is largely chemically inert--meaning it reacts with very few other substances, and only under extreme conditions--so it is ideal for medical applications, such as tooth fillings.
bobbartop
bobbartop
Joined: Mar 15, 2016
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August 19th, 2016 at 2:37:38 PM permalink
Quote: Ibeatyouraces

WTH does this have to do with my deal on candy bars?



After the Revolution, candy bars will be a delicacy enjoyed only by the Party elite. There will be block captains making sure we do not hide any. Our own children will be encouraged to turn us in upon just a hint of the smell of butterfinger.
'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.
beachbumbabs
Administrator
beachbumbabs
Joined: May 21, 2013
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August 19th, 2016 at 2:38:34 PM permalink
Quote: bobbartop

Ha! The full faith of the government, in other words, trust me. And while it's had the full faith of the government, a candy bar that used to cost 15-cents now costs $1.40.

Here's the deal, though, Einstein. There is a finite amount of gold, its scarcity is part of what makes it valueable. If you tie the dollar to gold, (on demand), then the government cannot have a free license to print $20 friggin TRILLION of it and devalue it by doing so. What the government is doing is the same thing a small criminal counterfeiter is doing. No difference. Creating money out of thin air.

God I'm glad I didn't go to school, I might have ended up as brainwashed as you are.



WARNING. You are in personal insult territory, with the "Einstein " and "brainwashed " pejoratives above. Next infraction will result in suspension. Address the comment, not the person, please. Thank you.
If the House lost every hand, they wouldn't deal the game.
bobbartop
bobbartop
Joined: Mar 15, 2016
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August 19th, 2016 at 2:48:31 PM permalink
Quote: beachbumbabs

WARNING. You are in personal insult territory, with the "Einstein " and "brainwashed " pejoratives above. Next infraction will result in suspension. Address the comment, not the person, please. Thank you.




Fair enough. Thank you for the warning. But where were you when I was being called "stupid" and was unable to defend myself against a forum predator? My only option was to cuddle with my cat and cry on the keyboard.
'Emergencies' have always been the pretext on which the safeguards of individual liberty have been eroded.
TomG
TomG
Joined: Sep 26, 2010
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August 19th, 2016 at 3:18:16 PM permalink
Quote: Deucekies

The only point I disagree with in the OP is that I don't think prices ending in .01, .02, .06, and .07 will round down. Since stores generally set their own prices, I think they'll all round up.



I definitely agree that's what most sellers would do with their prices. But we should look at it more as rounding/price increase rather than just rounding. For something that currently costs $19.97, that three cents increase to $20 represents a few months worth of inflation. For someone who buys that with cash, those three pennies are either a nuisance or a jar filler (or both), not anything of value that is being lost.

The zinc effect is definitely real and probably the reason we still have pennies. Which means the people making the decision to keep the penny are doing what will benefit themselves, not their constituents or the country. Which means the decision is wrong. We should overcome this, by either telling the zinc industry to f-off, use their medals in near equal amounts for dollar coins or simply pay them to not mine zinc, similar to farm subsidies. Given how much money is spent printing these coins, many would be better off and no one would be worse off.
TomG
TomG
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August 19th, 2016 at 3:22:11 PM permalink
Quote: Ibeatyouraces

Quote: bobbartop

...a candy bar that used to cost 15-cents now costs $1.40.

We got 10 for $4.35 recently. You've got to shop around!



BTB shops at bodegas and gas stations, then complains that the government is forcing him to pay too much for junk food.
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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August 19th, 2016 at 3:35:35 PM permalink
Quote: beachbumbabs

WARNING. You are in personal insult territory, with the "Einstein " and "brainwashed " pejoratives above. Next infraction will result in suspension. Address the comment, not the person, please. Thank you.

So weak on the brainwashing.
In the land of the blind, the man with one eye is the care taker. Hold my beer.

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