...Pretty sure Henry Ford did all these things, without the union forcing him to, to ensure he had the best workers. He also wanted to be certain his workers could afford the products they produced...
I'm hoping your lack of timely response is because you are fact checking my claims. At least you are learning something then. I'm leaving the office for the weekend, I'll leave you with this quote from someone I am assuming you despise, "Its not that you know so little, its that you know so much that isn't true". Learn something new everyday, hopefully you have completed today's lesson. Enjoy your weekend Mikki.
No comment on purchasing power? The devaluing of currencies?
Fractional reserve banking has been around longer?! LOL. Please check into that claim. If fractional reserve banking started before the gold standard, what did they use as the reserve?
Now i understand where you are coming from/your state of mind. You are a Keynesian, I am an Austrian. I can't hold it against you for being Keynesian, public school indoctrinated you with that.
Have you ever tried looking into supply-side economics? or even the Chicago school of thought?
It would end the central banks, no question. You are correct in stating the central banks implement CURRENCY. If we had gold backing we wouldn't have currency, we would have MONEY. Two very different things.
I do not believe we are going back to a gold standard. I was rebutting how you stated it is not possible. It is entirely possible with the current amount of gold, it would just need to be re-valued to a higher price to accommodate the devaluing the dollar has been subjected to since the creation of the Federal Reserve.
Example: In 1913 (year Fed Reserve created) one ounce of gold was valued at $22.67. FDR "reclaimed" the gold and then set the value at $35/ounce. Today it is valued at roughly $1400. It is the same ounce of gold, same PURCHASING POWER, yet it has a different price. Similar to when silver was in US coinage. In 1964, and before, a Quarter (25 cent piece) was worth 25 cent. Today that same quarter (from 1964) is worth $2.75 (melt value).
I do not believe the "community" can be successful unless the individual is successful first.
I do not follow/believe in the Q theories.
Though I do not believe it is likely we are going back to a gold standard, I do believe it would be beneficial for the people of the US (or the world for that matter) IF we had a gold standard. Fractional reserve banking, and the slow erosion of purchasing power would be eliminated. Both are wins in my book. Fiat money (what we currently have) leaves the power in the hands of the central bank. IMO central banks are the most evil entity know to man.
