Search found 17 matches

by illuminati1113
Wed Jan 09, 2008 9:14 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: Credit Expansion

Government intervention saved us from the great depression if you care to recall, though I'd agree if you said that many of the institutions established during that era have over-stayed their welcome The immediate cause of the Great Depression, if you call, was a rapid retraction in the money suppl...
by illuminati1113
Wed Jan 09, 2008 8:53 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: Credit Expansion

It's actually a fairly crippling disadvantage, because I don't consume gold. I don't want my paycheck to stay constant in the terms of the price of gold, I want it to stay constant in the terms of the goods I buy (well, really, the GDP). You've just hit on the issue. What you demand is impossible. ...
by illuminati1113
Wed Jan 09, 2008 8:46 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: Credit Expansion

Am I the only one who wants to know how illuminati1113 thinks banks will function with a 100% reserve ratio, and what he thinks will happen if the banks don't function? Banks could directly deal in commodities whose values increase with time? Really, they'd be more like glorified stock exchanges......
by illuminati1113
Wed Jan 09, 2008 8:35 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: Credit Expansion

Am I the only one who wants to know how illuminati1113 thinks banks will function with a 100% reserve ratio, and what he thinks will happen if the banks don't function? I thought I already answered this. What precisely are you worried about? Not all banks profit purely through investing deposit mon...
by illuminati1113
Wed Jan 09, 2008 8:30 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: Credit Expansion

Why does gold based (or other arbitrary X based) currency suck? First, it causes lots of resources to be wasted on over-mining gold. The work spent on mining for gold just to produce liquidity, when you can create liquidity via fiat, is wasteful. Liquidity can be created through reducing the size o...
by illuminati1113
Wed Jan 09, 2008 8:18 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: Credit Expansion

You haven't addressed the fatal flaw in your argument: the supply of gold, or whatever other tangible good you choose to back your currency with, is neither stable nor predictable. The true solution is the adoption of inflation targeting as monetary policy. Under inflation targeting, the central ba...
by illuminati1113
Wed Jan 09, 2008 8:01 pm UTC
Forum: Individual XKCD Comic Threads
Topic: 0368: "Bass"
Replies: 132
Views: 37736

Re: "Bass" discussion

macronencer wrote:
illuminati1113 wrote:I think bullets might be cheaper. Maybe a rock?


Yes, but those are asshole solutions (no offence, I don't mean you), as opposed to classhole solutions.


\:P
by illuminati1113
Wed Jan 09, 2008 7:46 pm UTC
Forum: Religious Wars
Topic: vi vs. vim (sacrilege alert!)
Replies: 54
Views: 27171

Re: vi vs. vim (sacrilege alert!)

I know that this topic is old, but I can't help but express my love of moded input. At least for text editing. That fact that i can perform complex manipulations of text without even moving from the alphanumeric keys is awesome.
by illuminati1113
Wed Jan 09, 2008 7:35 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: The Gold Standard

Yes, please, just because everyone should take an intro to economics course doesn't mean everyone has . Also, I've heard the likes of Greenspan have backed the gold standard in the past. Now, not being an expert in economics I don't know if he's smart or not, but his name holds a certain amount of ...
by illuminati1113
Wed Jan 09, 2008 7:29 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: Credit Expansion

Let's assume a stable, constant (edit: in regards to independent factors) backing for a currency. How does such a currency system deal with the rise in value of holdings such as corporations? Does the money deflate because the same amount of currency is now used to represent more resources (despite...
by illuminati1113
Wed Jan 09, 2008 7:23 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: The Gold Standard

Multi-metal standard seems to be more stable and redundant. I'm still uncertain about the following: However, it still does not reflect a countries economic activity, merely they're stockpiled precious metal. I'm having trouble piecing together my question, partially because I keep answering it by ...
by illuminati1113
Wed Jan 09, 2008 7:17 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: The Gold Standard

Yes. But this is far less likely than arbitrary 'printing' of currency. You do know about the massive inflation of the 16th century (in Spain, primarily, but it spread) thanks to the massive devaluation or gold and silver because of imported gold and silver from the Americas, right? Yes, but there ...
by illuminati1113
Wed Jan 09, 2008 7:04 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: The Gold Standard

edit: This isn't precisely on the gold standard but on credit expansion in general. I think you should change the title then. "The Gold Standard" is misleading and will only serve to derail the conversation. I thought of that as soon as I posted. I don't know that I change the title thoug...
by illuminati1113
Wed Jan 09, 2008 7:02 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Re: The Gold Standard

Wait! This is a really potentially interesting thread! Why won't you debate him? I havn't taken an econ course so I don't really feel I should put forth arguments, so I'll put forth questions instead: Thanks - I just took an entire course on this, well the banking system, and I was hoping to expand...
by illuminati1113
Wed Jan 09, 2008 6:20 pm UTC
Forum: Serious Business
Topic: So who's voting for the Ronpaul in the primaries?
Replies: 303
Views: 24343

Re: So who's voting for the Ronpaul in the primaries?

My real arguement is this: if Obama voted against the war, even when presented with evidence that suggested he should go to war, under what conditions will he go to war? I would hope that, as president, its not really his decision whether to go to war. I suspect though, that he will go whenever he ...
by illuminati1113
Wed Jan 09, 2008 6:12 pm UTC
Forum: Individual XKCD Comic Threads
Topic: 0368: "Bass"
Replies: 132
Views: 37736

Re: "Bass" discussion

I think bullets might be cheaper. Maybe a rock?
by illuminati1113
Wed Jan 09, 2008 6:10 pm UTC
Forum: Serious Business
Topic: Credit Expansion
Replies: 40
Views: 3830

Credit Expansion

I'd like to debate anyone who is opposed to pinning the value of the dollar to a relatively stable item (like precious metals.) I'll tell you why: Even though in the institution of the gold standard, independent of qualifications would be disastrous, (There would be a run on the Fed and the currency...

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