This is Going to be an Adventure...

[The Good Reverend Roger]

Ron Paul may oversee Fed

Rep. Ron Paul (R., Texas), who wants to abolish the Federal Reserve, could end up overseeing it as part of the Republican takeover of the House of Representatives.

Paul is the ranking member of the Subcommittee on Domestic Monetary Policy and Technology on the House Financial Services Committee, which has oversight for the Fed, the U.S. Mint and U.S. interaction with the World Bank, Politico reported.

The Republican leadership will make the final call on whether Paul gets to oversee the Fed, which, in addition to setting monetary policy, now has a more important role in overseeing big financial institutions including traditional banks like Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC), and other systemically important institutions like Goldman Sachs (GS), American International Group (AIG) and General Electric (GE)'s financial unit.

Paul got some traction recently with legislation proposing to audit the notoriously secretive Fed. He also wants to re-establish the gold standard.

thats..   actually not a bad idea.  I'd rather see someone who's got a passion for monetary policy overseeing the Fed than someone who comes to it because it's an open position and it will pad their public service resume for when they get voted out and become a lobbyist for the banking system.

also:

"I wouldn't exactly go back on the gold standard but I would legalize the constitution where gold and silver should and could be legal tender, which would restrain the Federal Government from spending and then turning that over to the Federal Reserve and letting the Federal Reserve print the money."  -- Ron Paul

I know it wasn't your quote, and I'm not giving YOU shit for it Cat, but it sure is fun to try and simplify where someone stands and get it completely wrong, isn't it?

You fucking libertarians are all the same.

juicy bait..  (remember what ECH said now..  deep breath..  it's just the internet)

you fucking (insert people who identify with particular schools of political thought to the exclusion of others completely and totally)s are all the same.

you have me completely figured out because you spent some time on Reason.com

I like you Howl, you make me question my beliefs and I appreciate that in an angry looking avatar, but I like you more when you contribute to the discussion and don't just throw shit all over the walls and call it art.

What's reason.com?  Trollworthy?

And I don't fling shit, sir, I propel it.  I have on occasion destroyed entire truck stop bathrooms while the janitors scream for exorcists and HAZWOPER teams in whatever language it is that they speak.  My ass is like unto the German "Big Bertha" cannon of WWII fame, and I am in my own personal illegal in all but four states for this reason.  Flinging shit is for primates.  I am a Holy Man^TM, and I expel my wastes with the power of THE GODS THEMSELVES!  Ia!  Ia!  Ftang!

And don't bring Howl into this.  He's a secular son of a bitch who will be the FIRST up against the wall when the teabaggers are inaugurated in January.  Good riddance to bad rubbish, I say.

[Elder Iptuous]

The thing about the gold standard is, at least from my knowledge, is that it has the same issue as fiat money. You can always fiddle with the value of gold one way or another. "An ounce of gold is now worth $2,000" or "an ounce of gold is now worth three dollars." Either way, you now can shift how much money you can print.

Edit: I also see issues with it in terms of growing an economy. There's only so much gold, and economies need to be more flexible. But that's a semi-uneducated comment. I'd have to do more research (which I don't have time to), but from what I remember that was a criticism.

- you can fiddle with the price of gold in dollars by fiddling with the dollars.  that doesn't effect the value of gold.
it's value stays pretty even keeled.

-we need to learn how to make a sustainable economy that doesn't require continuous growth.  flexibility is good, and that is why a strict gold standard doesn't really make great sense, but an economy based on the assumption that continuous growth indefinitely is possible?  that seems absurdly short sighted, no?

[Disco Pickle]

There is not enough gold to return to a gold backed currency.  It's too late, get over it.

which, if you had read the thread, you'd already know that the idea of doing that was dispensed with as an option.

[Disco Pickle]

Ron Paul may oversee Fed

Rep. Ron Paul (R., Texas), who wants to abolish the Federal Reserve, could end up overseeing it as part of the Republican takeover of the House of Representatives.

Paul is the ranking member of the Subcommittee on Domestic Monetary Policy and Technology on the House Financial Services Committee, which has oversight for the Fed, the U.S. Mint and U.S. interaction with the World Bank, Politico reported.

The Republican leadership will make the final call on whether Paul gets to oversee the Fed, which, in addition to setting monetary policy, now has a more important role in overseeing big financial institutions including traditional banks like Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC), and other systemically important institutions like Goldman Sachs (GS), American International Group (AIG) and General Electric (GE)'s financial unit.

Paul got some traction recently with legislation proposing to audit the notoriously secretive Fed. He also wants to re-establish the gold standard.

thats..   actually not a bad idea.  I'd rather see someone who's got a passion for monetary policy overseeing the Fed than someone who comes to it because it's an open position and it will pad their public service resume for when they get voted out and become a lobbyist for the banking system.

also:

"I wouldn't exactly go back on the gold standard but I would legalize the constitution where gold and silver should and could be legal tender, which would restrain the Federal Government from spending and then turning that over to the Federal Reserve and letting the Federal Reserve print the money."  -- Ron Paul

I know it wasn't your quote, and I'm not giving YOU shit for it Cat, but it sure is fun to try and simplify where someone stands and get it completely wrong, isn't it?

You fucking libertarians are all the same.

juicy bait..  (remember what ECH said now..  deep breath..  it's just the internet)

you fucking (insert people who identify with particular schools of political thought to the exclusion of others completely and totally)s are all the same.

you have me completely figured out because you spent some time on Reason.com

I like you Howl, you make me question my beliefs and I appreciate that in an angry looking avatar, but I like you more when you contribute to the discussion and don't just throw shit all over the walls and call it art.

What's reason.com?  Trollworthy?

And I don't fling shit, sir, I propel it.  I have on occasion destroyed entire truck stop bathrooms while the janitors scream for exorcists and HAZWOPER teams in whatever language it is that they speak.  My ass is like unto the German "Big Bertha" cannon of WWII fame, and I am in my own personal illegal in all but four states for this reason.  Flinging shit is for primates.  I am a Holy Man^TM, and I expel my wastes with the power of THE GODS THEMSELVES!  Ia!  Ia!  Ftang!

And don't bring Howl into this.  He's a secular son of a bitch who will be the FIRST up against the wall when the teabaggers are inaugurated in January.  Good riddance to bad rubbish, I say.

god damn I laughed from the first sentence.



mittens..  mittens everywhere...

[Requia ☣]

There is not enough gold to return to a gold backed currency.  It's too late, get over it.

which, if you had read the thread, you'd already know that the idea of doing that was dispensed with as an option.

Pretty sure that's exactly what he's talking about.

[The Good Reverend Roger]

god damn I laughed from the first sentence.



mittens..  mittens everywhere...

You'll be laughing out the other side of your neck while you're burning in hell, Sinner.

Time to get right.  Join The First Church of the Wrath of Baby Jesus, or go to ETERNAL PERDITION with the Belgians.

[Disco Pickle]

and Reason.com is trollable..  so very trollable..

-we need to learn how to make a sustainable economy that doesn't require continuous growth.  flexibility is good, and that is why a strict gold standard doesn't really make great sense, but an economy based on the assumption that continuous growth indefinitely is possible?  that seems absurdly short sighted, no?

continuous growth with no checks sounds like a dominant life form with no natural predators continuing to expand forever.

that always ends well in other species, why not primates?

[The Good Reverend Roger]

There is not enough gold to return to a gold backed currency.  It's too late, get over it.

which, if you had read the thread, you'd already know that the idea of doing that was dispensed with as an option.

Pretty sure that's exactly what he's talking about.

Then you're more sure about what Ron Paul is saying than Ron Paul is.  Which has to count for something.

[The Good Reverend Roger]

and Reason.com is trollable..  so very trollable..

-we need to learn how to make a sustainable economy that doesn't require continuous growth.  flexibility is good, and that is why a strict gold standard doesn't really make great sense, but an economy based on the assumption that continuous growth indefinitely is possible?  that seems absurdly short sighted, no?

continuous growth with no checks sounds like a dominant life form with no natural predators continuing to expand forever.

that always ends well in other species, why not primates?

Actually, that was possible, before America pussed out after going to the moon a few times.

There weren't any Indians, you see, so we went back to Earth to pound on smudgy people some more.

[Disco Pickle]

There is not enough gold to return to a gold backed currency.  It's too late, get over it.

which, if you had read the thread, you'd already know that the idea of doing that was dispensed with as an option.

Pretty sure that's exactly what he's talking about.

Im pretty sure that's exacty NOT what he's talking about.  

we could just be disagreeing on what it means, but as I understand it, it's more truly demand based currency, and people are allowed to enter into private contracts where they can charge and be payed in something like silver and gold, something you can't do right now.

the inflation created by the Fed would, of course, become very glaring very quickly were this option allowed, which is the point really.

it's truly a giant drop of chaos that would force people to pay attention to the current illusion called "money" and really, this board above most I would think, would endorse it simply for the entropy if spawns.

[Elder Iptuous]

There is not enough gold to return to a gold backed currency.  It's too late, get over it.

no... there's not enough gold to return to a gold backed currency at the current price in dollars.  that argument doesnt make any sense.

[The Good Reverend Roger]

we could just be disagreeing on what it means, but as I understand it, it's more truly demand based currency, and people are allowed to enter into private contracts where they can charge and be payed in something like silver and gold, something you can't do right now.

I can do that right this minute.  And it's legal as hell.

[The Good Reverend Roger]

There is not enough gold to return to a gold backed currency.  It's too late, get over it.

no... there's not enough gold to return to a gold backed currency at the current price in dollars.  that argument doesnt make any sense.

Yeah, I want an economy where a car costs $100 and there's no piece of currency small enough to buy a newspaper. 

[Elder Iptuous]

There is not enough gold to return to a gold backed currency.  It's too late, get over it.

no... there's not enough gold to return to a gold backed currency at the current price in dollars.  that argument doesnt make any sense.

Yeah, I want an economy where a car costs $100 and there's no piece of currency small enough to buy a newspaper. 

the number doesn't matter beyond convenience.
it's arbitrary.
you can set it and divide it however you want.
but you know that already...
so i'm confused by what your point is.

[The Good Reverend Roger]

There is not enough gold to return to a gold backed currency.  It's too late, get over it.

no... there's not enough gold to return to a gold backed currency at the current price in dollars.  that argument doesnt make any sense.

Yeah, I want an economy where a car costs $100 and there's no piece of currency small enough to buy a newspaper. 

the number doesn't matter beyond convenience.
it's arbitrary.
you can set it and divide it however you want.
but you know that already...
so i'm confused by what your point is.

Well, I'm kind of thinking that there hasn't been much difference in our economy since we changed to imaginary money.  Boom & bust has been going on as long as the country has existed.

So why bother fucking with it?