Republicans tease with gold standard, but idea seen full of bugs

Aug 26, 2012 Full story: Reuters 101

U.S. Republicans have all but guaranteed the backing of the "gold vote" this November by raising an idea that even the most bullish mainstream bullion boosters believe is unrealistic - a return to the gold standard.

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“Proud To Be An American”

Since: Apr 07

Location hidden

#1 Aug 26, 2012
The country is in pathetic shape and it's time for the self-serving b. h. obama to go.
Curtis Lowe

Montgomery, AL

#2 Aug 26, 2012
America will get exactly what we deserve this Fall.

Where is Vera Baker?
Gravediggers

United States

#3 Aug 26, 2012
LOL! LIke Obama's programs and policies have made a difference.

OBAMA HAS FAILED TO UNITE AMERICA.

OBAMA HAS CAUSED A DIVIDE IN AMERICA.

RECLAIM OUR COUNTRY WITH A POSITIVE SPIRIT, MESSAGE, AND A MAN WHO KNOWS HOW TO LEAD AND BRING BACK AMERICA!

Obama has made us hang our heads and bow our spirits to negativity. He started this in his European speech calling AMERICA:

"DERISIVE, DIVISIVE and ARROGANT"

The future President of the USA, Barack Obama deride OUR country and since then we have foundered.

It's time to lift our heads again!

NO in NOvember!
NO to OWEbama!

Get rid of the negativity in the Senate.
Get rid of the negativity in the White House.

OUT with Obama/Biden in 2012!
Professor Rubeus Hagrid

Turku, Finland

#4 Aug 26, 2012
Professor Rubeus Hagrid blogger reports on reported news;

Republicans tease, yes, they are stink tease in particular Obama.
robert

Hollywood, FL

#5 Aug 26, 2012
Is an interesting thought, what is our currency worth. It is of course worth what people think it is worth. As long as we are doing well and prosperous it seems to be worth a lot but when you think of it you switch to gold then your currency is worth how much gold you have. How much gold you have might be reflective of what your currency is worth but then again it is really just a matter of how much gold you have. It is possible to have a very industrious country who does not have an accumulation of gold does that mean their currency is worthless.

I only took one economics class and that was so long ago I don't remember much of it but it seems to me that as long at the rest of the world thinks our currency has value then it does. So all we have to do is not screw that up by doing something like plunging ourselves into unsustainable sovereign debt over entitlement spending something that never could happen if everyone took care of themselves.

“Truth to Power!”

Since: Apr 07

Winter Park, FL

#8 Aug 26, 2012
robert wrote:
Is an interesting thought, what is our currency worth. It is of course worth what people think it is worth. As long as we are doing well and prosperous it seems to be worth a lot but when you think of it you switch to gold then your currency is worth how much gold you have. How much gold you have might be reflective of what your currency is worth but then again it is really just a matter of how much gold you have. It is possible to have a very industrious country who does not have an accumulation of gold does that mean their currency is worthless.
I only took one economics class and that was so long ago I don't remember much of it but it seems to me that as long at the rest of the world thinks our currency has value then it does. So all we have to do is not screw that up by doing something like plunging ourselves into unsustainable sovereign debt over entitlement spending something that never could happen if everyone took care of themselves.




Yes, the problems with a gold standard are:

1) Only a finite amount of gold
2) A Growing Population
3) A Growing money Supply
4) When gold's market value drops to "Normal" levels, so does the value of the dollar.
5) It would take a set artificial gold price and that doesn't work with the commodity.




I'm glad the repubs are talking about it. The public needs to understand what Bernack/Obama have done to the dollar by printing more money. Inflation is already here and it's only going to get worse as the Jackass demands the Fed continue propping up his failed economy.


“Truth to Power!”

Since: Apr 07

Winter Park, FL

#9 Aug 26, 2012


Why does Obama SUCK so Badly?



Since: Feb 08

Hypoluxo Fl

#10 Aug 26, 2012
The laughing liberal wrote:
Why does Obama SUCK so Badly?
He has no where near the experience you have. Laughing Lunatic.

Since: Feb 07

Location hidden

#11 Aug 26, 2012
It may be done to remind the WH and Senate that a budget is required, and has not been done for a long time.

Since: Nov 08

Location hidden

#12 Aug 26, 2012
Moochelle has bug-eyes come to think of it.
JBH

Richmond, Canada

#14 Aug 26, 2012
You are out of your minds if you still do not know what the right thing for you and to do, is.
The best AND right thing to do is to fire Obama absolutely as there is no other way.
That is it--Obama is supposed to be let go by all of you in this election.

You need a strong fellow as tough as John Wayne, who is fit for the image of the president and that image can only filled by Romney, but not Obama.

Obama has failed in everything, without doing one single thing of any accomplishment but making vast damages and destruction.

On Iraq, Obama claimed he had achieved approving and helping the mission of Bush by saying,"Mission accomplished".
If it was Romney, he would say, "This is the time US withdraws from Iraq, for this confirms the ending involvement engaged from former administration".

On bin Laden, many people do not like and disapprove the way of Obama's handling, by bowing to others like Muslims, to shuffle against them by telling to take credit instead, while there are not any pictures of dead body shown by being sloppy and giving a poor presentation.

Unlike Obama, Romney would take charge of overseeing the raid, and give more details from the bin Laden case on all the conspiracy of bin Laden and 9-11 case, besides showing pictures of dead bin Laden and would not give excuses of fear in Islams and Muslims--that is supposed to be the way of a great man as president would do--and serving that is what US people want to know.

Unlike Obama, by pointing to Bush, if Romney would be in charge of the economy for the last few years, the present public health care would be cost-effectively in place, debt-levels would not rise,,simultaneously the unemployment rate would be well under 6% and income and wealth of people would not drop. The middle class would not have declined and education becomes competitive for all people. No matter what color and race of people are, they all have job opportunities and that is all that matters. Women would be doing fine with rights of choices, to choose between careers, freedom of living and style,with freedom of speech, to be single, married or single mothers.

The future would be bright with Romney thus because all of you need a great man with vitality, who possesses hands-on ability and skills, with great communication gesture and presidential image, to lead to get things done in the right way.

Obama is not real, but an unrealistic radical, extremist as a con artist with a poor perversion image while having none of any capability.

Now that YOU KNOW , what are you waiting for?

Elect your good future which is right for all of you--Romney-Ryan for 2012.
Thats true

Seattle, WA

#15 Aug 26, 2012
It is full of bugs because the gold isnt there anymore.
robert

Hollywood, FL

#16 Aug 26, 2012
The laughing liberal wrote:
<quoted text>
Yes, the problems with a gold standard are:
1) Only a finite amount of gold
2) A Growing Population
3) A Growing money Supply
4) When gold's market value drops to "Normal" levels, so does the value of the dollar.
5) It would take a set artificial gold price and that doesn't work with the commodity.
I'm glad the repubs are talking about it. The public needs to understand what Bernack/Obama have done to the dollar by printing more money. Inflation is already here and it's only going to get worse as the Jackass demands the Fed continue propping up his failed economy.
For a gold standard to work wouldn't the rest of the world use it also so that the amount of gold end up distributed in the same manner as the amount of wealth around the world. It is an attractive idea because it would make it harder for people to spend money they did not have but overall I am thinking it would not work for us.
Makes sense

Dearborn, MI

#17 Aug 26, 2012
Why would Bishop Rmoney ever want to work with Saul Wry-an and RON PAUL? They have completely different ideologies and world-views.

It's a mystery.

“Truth to Power!”

Since: Apr 07

Winter Park, FL

#18 Aug 26, 2012
Mykro wrote:
<quoted text>He has no where near the experience you have. Laughing Lunatic.




Agree.

- I've wasn't raised in Indonesia by Muslims for 1/2 of my childhood.
- Wasn't sent to live with my RICH Bankster gannny in Hawaii
- I wasn't sent to RICH Private Schools in Hawaii by my Bankster granny
- I've never been in a Terrorist's House like Obama
- I've never started a career in a Terrorist's House as Obama has.
- My wife is PROUD of her Country unlike barack's.
- I've never voted against giving first aid to a suffering baby as obama has.
- I've never added TRILLIONS to the national Debt as Obama has.
- I've never Assassinated or Murdered US citizens as Obama has.



Yep, I can confidently state that my experience does not mirror any of our criminal president's experience.

“Truth to Power!”

Since: Apr 07

Winter Park, FL

#19 Aug 26, 2012
robert wrote:
<quoted text>
For a gold standard to work wouldn't the rest of the world use it also so that the amount of gold end up distributed in the same manner as the amount of wealth around the world.



No, the US dollar would simply be pegged to the price of gold and the quantity it possessed to back it up. The chain reaction that followed would be interesting.

robert wrote:
<quoted text>
It is an attractive idea because it would make it harder for people to spend money they did not have but overall I am thinking it would not work for us.



Yes and in theory you could cash in your paper for the hard asset. That's another reason why it would never fly.

The other problem is that the US Money supply must be increased to keep up with the increase in population so what happens if the supply or US Holdings/price of gold does not keep up?

“Truth to Power!”

Since: Apr 07

Winter Park, FL

#20 Aug 26, 2012
Makes sense wrote:
Why would Bishop Rmoney ever want to work with Saul Wry-an and RON PAUL? They have completely different ideologies and world-views.
It's a mystery.




Obama's Mentor Rev. Jeremiah Wright is an Anti-American pastor that also hates Jews. No we see why the Obama's Loved his church and why Barack admitted this jackass was his "Mentor."




ROFL!





Barack Hussein Obama is a Radical Piece of Shit. Sorry but the truth hurts.

Sheik Yerbouti

Pennington, NJ

#21 Aug 26, 2012
The laughing liberal wrote:
Why does Obama SUCK so Badly?
Just like you! On your knees sissy boy!!

“Truth to Power!”

Since: Apr 07

Winter Park, FL

#22 Aug 26, 2012


poor mykro brain.
He's watching his criminal president obama sink further into the scum from which he came. Enjoy the wallow, pigs.



-_-

Questioner

Llano, TX

#24 Aug 26, 2012
Five of thirteen comments on the 'gold standard'. It is a bad omen for the economic health of the USA. Seems a sizable portion of people just want a scapegoat and don't care about how policy impacts their life.
The gold standard is not as simple as some would make it seem, and a look at history suggests that it is no solution to all economic problems. Complexitiy and the space allowed for comments prevent a subtantial debate on it here, but as always the web has argurments avialable (see links).
As a cynic my take is that the Republicans (except for some like Ron Paul) are fishing for votes from folk that think this is a silver bullet. It is not and both the Republicans and Democrats know it. I would think that a return to the gold standard would lead to a renewed search for the 'Philosophers stone'.

http://en.wikipedia.org/wiki/Gold_standard

http://www.econlib.org/library/Enc/GoldStanda...

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