Are you willing to 6 dollars for a gallon of gas!

[rb336]

You are sooooooo wrong on that that I don't even know where to begin. It's the gold nut version of reductio ad hitlerum

[oladub]

rb: You are sooooooo wrong on that that I don't even know where to begin. It's the gold nut version of reductio ad hitlerum

Bringing up Hitler always wins arguments but how so? This is what I wrote, "Zimbabwe's fiat currency is a great example what happens to a currency unattached to a commodity standard. Great example. All fiat currencies eventually collapse and become worth no more than the used paper they are printed on. A two thousand year old ounce of gold, however, will still fetch $1,700."

Hitler aside, which points are wrong?
Did Zimbabwe have a fiat currency or a commodity based currency?
What is the longest lasting fiat currency in existence today of the thousands having existed? Does it buy as much as it used to?
How much is a two thousand year old ounce of gold worth?

[rb336]

Bringing up Hitler always wins arguments but how so? This is what I wrote, "Zimbabwe's fiat currency is a great example what happens to a currency unattached to a commodity standard. Great example. All fiat currencies eventually collapse and become worth no more than the used paper they are printed on. A two thousand year old ounce of gold, however, will still fetch $1,700."

I wrote that arguing about Zimbabwe's currency [[or the Wiemar Marks for that matter) is the gold-standard charlatains' version of a reductio ad hitlerum.

Hitler aside, which points are wrong?
Did Zimbabwe have a fiat currency or a commodity based currency?
What is the longest lasting fiat currency in existence today of the thousands having existed? Does it buy as much as it used to?
How much is a two thousand year old ounce of gold worth?

Zimbabwe's currency issues have nothing to do with it NOT being backed by gold, and neither did the Wiemar marks. The problems with those currencies were/are countries that were economically devastated - Zimbabwe by massive corruption, Wiemar Germany by the terms of the Treaty of Versailles. It had little, if anything, to do with them not being backed by gold. Simply stating that it was because it was fiat money is historically inaccurate at best, and simple-minded. To say it causes runaway inflation is easily proven wrong -- when was the last time we had runaway inflation? [[before throwing some stock paulian answer, please refresh yourself by looking at the last argument you made regarding that and the truth -- it's been at 1.5 % to 3% for an awfully long time, and we've NEVER had the hyperinflation that was evident in Wiemar Germany or Zimbabwe. Therefore, bringing up Zimbabwe in a talk about inflation/gold standard is essentially the same as bringing up Hitler when talking about government policies -- pure bullshit

[oladub]

rb336: I wrote that arguing about Zimbabwe's currency [[or the Wiemar Marks for that matter) is the gold-standard charlatains' version of a reductio ad hitlerum.

I know.

Zimbabwe's currency issues have nothing to do with it NOT being backed by gold, and neither did the Wiemar marks. The problems with those currencies were/are countries that were economically devastated - Zimbabwe by massive corruption, Wiemar Germany by the terms of the Treaty of Versailles. It had little, if anything, to do with them not being backed by gold. Simply stating that it was because it was fiat money is historically inaccurate at best, and simple-minded. To say it causes runaway inflation is easily proven wrong -- when was the last time we had runaway inflation? [[before throwing some stock paulian answer, please refresh yourself by looking at the last argument you made regarding that and the truth -- it's been at 1.5 % to 3% for an awfully long time, and we've NEVER had the hyperinflation that was evident in Wiemar Germany or Zimbabwe. Therefore, bringing up Zimbabwe in a talk about inflation/gold standard is essentially the same as bringing up Hitler when talking about government policies -- pure bullshit.

Imagine that of saying, "not backed by gold" and instead saying "gold". It would have been impossible to inflate away the value of money. The results would have been different. Being able to print money does often lead to corruption as you point out it did in Zimbabwe and I frequently point out regarding Wall Street bailouts. I didn't say that printing fiat money "causes runaway inflation" but instead suggested that it makes it easier to do so and that all fiat currencies eventually become waste paper. In the '60s, thirty cents bought a gallon of gas, now it costs over $3, etc.. The last time we had near runaway inflation was under Jimmy Carter [[18%). Voelker did a good job as Fed chairman to end that with a recession. It is down right gullible to think that inflation is only 1.5 % to 3% because the government says it is. Clinton modified the criteria the government uses to come up with more pleasing numbers.

You deserve a prize for embellishing Hitler into your arguments twice in one post.

[rb336]

Clinton modified the criteria the government uses to come up with more pleasing numbers.

So I should believe an undocumented article by someone vested in the Greater Fool theory?

You deserve a prize for embellishing Hitler into your arguments twice in one post.

sorry, I didn't. I simply proved that your arguments are, as I said, gold-standard nuts' version of reductio ad hitlorum. Your arguments aren't factual, you get that proven, so you bring up Zimbabwe or Wiemar call it reductio ad zimababwum

[rb336]

oh -- and by the way, inflation was 7.8% annually under carter. At its worst, Zimbabwe's was over 7,000,000,000% PER MONTH. Yes, that is 7 billion percent per month. therefore the term reductio ad zimbabsurdum [[yeah, I like that better) is all your argument is. it is like pissing in the ocean to try to raise the water level

[oladub]

oh -- and by the way, inflation was 7.8% annually under carter. At its worst, Zimbabwe's was over 7,000,000,000% PER MONTH. Yes, that is 7 billion percent per month. therefore the term reductio ad zimbabsurdum [[yeah, I like that better) is all your argument is. it is like pissing in the ocean to try to raise the water level

it reached 18% under Carter. Say "FIAT DOLLARS"; printing press magic.
http://www.time.com/time/magazine/ar...921854,00.html