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sickmint79
New Member
24 Posts |
Posted - 06/25/2007 : 09:18:16 [Permalink]
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i think this is where a fundamental definition of money is the root cause of the branching schools of macroeconomics and the role money plays. the money used as a tool idea above, austrian school and probably others, totally makes sense and does dictate that we should have full reserve institutions. i'm not sure what the other schools would say but my assumption is 1 to many like the system as is today with the fed and fractional reserve, where money is *not* just a vehicle to make exchange of goods easier. it is additionally a stimulus for economic growth. with fractional reserve, more money can be lent out and theoretically can grow a stronger economy. the trick is how well it is lent out (created) - a delicate balancing act between actually growing the economy vs. just creating inflation, and this act is what the fed is trying to do. i understand both sides of this argument now. theoretically jerome's view of macroeconomics should work, as does ours today; but i think the current one today allows for more growth, but comes at the expense of more risk. also noted in another thread i participated on in this topic - there's nothing stopping you as an individual to going back to the gold standard. if you are willing to deal with the conversion to/from USD to pay your bills, you can simply use digital gold banks online and hoard bullion yourself.
personally i now have 300 oz of silver bullion that i'll be stashing in a safe place for now. :) |
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Dude
SFN Die Hard
USA
6891 Posts |
 Posted - 06/25/2007 : 15:56:02 [Permalink]
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A little effort to apply some basic grammar to your posts would be helpfull, sickmint.
Capitalize the first letter in new sentences. Add a comma or two to seperate ideas.
Doesn't have to be essay perfect or anything, but it might help others understand what you are trying to say. You above post was prettymuch unreadable.
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Ignorance is preferable to error; and he is less remote from the truth who believes nothing, than he who believes what is wrong.
-- Thomas Jefferson
"god :: the last refuge of a man with no answers and no argument." - G. Carlin
Hope, n.
The handmaiden of desperation; the opiate of despair; the illegible signpost on the road to perdition. ~~ da filth |
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Federal Reserve Act in 1913
