#1
Link

Forbes thinks that America will be back on the gold standard within 5 years.

Quote by Article
Such a move would help to stabilize the value of the dollar, restore confidence among foreign investors in U.S. government bonds, and discourage reckless federal spending, the media mogul and former presidential candidate said. The United States used gold as the basis for valuing the U.S. dollar successfully for roughly 180 years before President Richard Nixon embarked upon an experiment to end the practice in the 1970s that has contributed to a number of woes that the country is suffering from now, Forbes added.


I asked my economics teacher why we were even taken off it in the first place and why we aren't on it now and he gave some half assed liberal explanation why that I didn't believe

What does the Pit think?
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#3
Ask for explanation.

Ignore explanation.
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#4
Quote by PlayMadness
Ask for explanation.

Ignore explanation.


makes sense to me.
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omfg i totally forgot about that, you sir are jesus christ.
#5
Are the comments on the article for real?

Anyway, I would like a real explanation on how this works. That article just seemed like an excuse to complain about how things are now.
#6
im not saying we have to have a gold standard but some kind of standard s necessary, might as well be gold since its already collected and been used in history and proven to work. Not having a standard has allowed our (the U.S. government) to print off money at a whim in an attempt to pay back our debt to foreign countries. honestly this will never work, as china has already made plans to cut their U.S. bonds to a third of what they currently are. Plus on top of that printing off all this money has caused and is causing major inflation. (The value of gold is not going up the value of the dollar is just going down). having a standard will not only stabilize our currency but keep people from realizing that all the worlds currency is actually worth nothing.
#7
Quote by izbbass
Link

Forbes thinks that America will be back on the gold standard within 5 years.


I asked my economics teacher why we were even taken off it in the first place and why we aren't on it now and he gave some half assed liberal explanation why that I didn't believe

What does the Pit think?

Hmmm. So, because someone, who happens to know a lot more about economics than you, gave you an explanation that you interpreted as being liberal, and half assed you completely discredit them?

Typical Tea Partier. And that's coming from someone who is a moderate and doesn't really lean left or right. Honestly, I don't know how regular republicans put up with you people.

EDIT: In my opinion, it's highly unlikely we'll ever be back on our gold standard.
I can honestly say I have really been far even as decided to use even go want to do look more like.


I don't always post on UG, but when I do, I post in the Pit. Stay thirsty my friends.
Last edited by IMABBALLPLAYER at May 11, 2011,
#8
I'm a little surprised you made this thread and expected to get a coherent, rational discussion on economics from the PIT of all places...

But no, I don't think we will be headed back to the gold standard in 5 years..it will be when the American people wake up and take back control of their government..

-Fellow Tea Partier
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But theres no reason why i cant be free like a raspberry stuck to the back of a horny elephants ass.

This is maybe the worst comparison in the history of comparisons.
Last edited by Controlpanel at May 11, 2011,
#9
i think that is very unlikely as people make a lot of money out of it being the way it is.
now extra flamey
#10
Quote by Controlpanel
I'm a little surprised you made this thread and expected to get a coherent, rational discussion on economics from the PIT of all places...

But no, I don't think we will be headed back to the gold standard in 5 years..it will be when the American people wake up and take back control of their government..

-Fellow Tea Partier

^Respond to the question, idiot...don't just criticize..God almighty....


EXPLAIN PLEASE.

Thank you.
#11
Quote by Controlpanel
I'm a little surprised you made this thread and expected to get a coherent, rational discussion on economics from the PIT of all places...

But no, I don't think we will be headed back to the gold standard in 5 years..it will be when the American people wake up and take back control of their government..

-Fellow Tea Partier

^Respond to the question, idiot...don't just criticize..God almighty....

I did respond to the question. Like I said, we won't ever be back on our gold standard. Our national debt is far too high, and honestly, we'll never get rid of it. I know the Tea Party are all acting like optimists when they say the national debt will be obolished once the american people take back the government... but how do they plan on doing that without raising taxes a shitton. Act like Realists...
I can honestly say I have really been far even as decided to use even go want to do look more like.


I don't always post on UG, but when I do, I post in the Pit. Stay thirsty my friends.
Last edited by IMABBALLPLAYER at May 11, 2011,
#12
Quote by PlayMadness
Ask for explanation.

Ignore explanation.


*hypothetitcal*
A child, curious about life, asks an adult to explain where humans came from and what our point in life is. Suppose the adult responds, we come from the Moon and we're supposed to dance at least once a day or we die. The child knows he hasn't danced before and is alive, so he doubts the reason
/hypothetical hyperbole

The point is that just because someone says something, and they should/could be more knowledgable than you are, does not mean you aren't within you're right to question them.
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#15
Quote by axethrower13
*hypothetitcal*
A child, curious about life, asks an adult to explain where humans came from and what our point in life is. Suppose the adult responds, we come from the Moon and we're supposed to dance at least once a day or we die. The child knows he hasn't danced before and is alive, so he doubts the reason
/hypothetical hyperbole

The point is that just because someone says something, and they should/could be more knowledgable than you are, does not mean you aren't within you're right to question them.


Unless you outright deny the explanation simply because you don't agree with it (which begs the question "why did he ask in the first place?").
#16
Quote by leeb rocks
Growth can't go on forever.

/has only read the article title

deal with it



We're operating in the capitalist paradigm, yes it can. Forever and ever.

Besides, he talks about a five-year - ...

Not worth it. Lazy Scots bastard.
#17
Quote by gabcd86
We're operating in the capitalist paradigm, yes it can. Forever and ever.

Besides, he talks about a five-year - ...

Not worth it. Lazy Scots bastard.


What's that? I couldn't here you over the sound of our intact welfare system.
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#18
Quote by WizMystery
Unless you outright deny the explanation simply because you don't agree with it (which begs the question "why did he ask in the first place?").

Unless you have reason to suspect the answer you receive is false. In which case you ask someone else for their explanation. To flat out accept an answer that you suspect to be false is sheep-like and rather foolish.
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#19
Quote by axethrower13
Unless you have reason to suspect the answer you receive is false.


Then you wouldn't be doing what I said.
#20
Quote by WizMystery
Then you wouldn't be doing what I said.

Dude WTF are you talking about? You are saying that if you ask about something, and get an answer but refuse to accept it, then what is the point in asking in the first place?

The point is to get the right answer. If you ask someone what x equals in 24=X^2-1 and they answer with "tic-tac," you have reason to ask the question again because you suspect something about the answer isn't correct.
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#22
Getting a second opinion is never a bad idea. It doesn't matter what you guys are arguing about.

Personally, I don't know too much about economics, but I don't see how the gold standard will fix that much. The economy has many more reasons to be the way it is. From what I've been told, the dollar is backed by faith, and it might have some effect with a concrete backing, but it won't fix everything.
#23
Quote by axethrower13
Dude WTF are you talking about? You are saying that if you ask about something, and get an answer but refuse to accept it, then what is the point in asking in the first place?


I'm saying that there's no point in asking something if you're predisposed to ignore the answer based on the fact that it wasn't your already-established opinion. Saying "he gave me some liberal answer that I didn't believe" clearly indicates that the OP didn't even give the explanation a thought because it didn't fit his limited view of the issue. That's not a reason not to believe something outright. Both liberals and conservatives can be right on different issues in spite of bias, and he was too quick to assume the explanation was false simply because he detected a bias.
#24
I think we should be. Will the US be back on the gold standard by 2016, however? The way it's fucked up now...I doubt it.

Btw, TS...do your damn research. Look up Richard Nixon. He took us off the gold standard. Go check it out. It's not even hard to find. If you wanna know the why, first know the history of it. Then, maybe before you judge your prof's answer, at least you'll know more than "Urrr...durr...we're not on the gold standard...hurr..."
Last edited by crazysam23_Atax at May 11, 2011,
#25
Quote by WizMystery
I'm saying that there's no point in asking something if you're predisposed to ignore the answer based on the fact that it wasn't your already-established opinion. Saying "he gave me some liberal answer that I didn't believe" clearly indicates that the OP didn't even give the explanation a thought because it didn't fit his limited view of the issue. That's not a reason not to believe something outright. Both liberals and conservatives can be right on different issues in spite of bias, and he was too quick to assume the explanation was false simply because he detected a bias.

Correct views are also "limited." They are limited to the right facts, the right idea. If correct answer didn't have a limited view, they would encompass the wrong also. TS wasn't "predisposed to ignore the answer," he was "predisposed to ignore an answer."

I am predisposed to ignore the answer that god created humans; therefore, I look for answer elsewhere, like the big bang.

Furthermore, I agree conservatives and liberals can be right on different issues. That being said, if a conservative believes an answer is wrong and describes it as being liberal, that doesn't mean that is the sole reason he has disregarded it. Being "liberal" is just a trait of the answer he received.
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Last edited by axethrower13 at May 11, 2011,
#26
Quote by WizMystery
EXPLAIN PLEASE.

Thank you.


which part?
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Quote by jrcsgtpeppers
But theres no reason why i cant be free like a raspberry stuck to the back of a horny elephants ass.

This is maybe the worst comparison in the history of comparisons.
#27
You are completely interpreting my posts wrong.

Quote by axethrower13
Correct views are also "limited." They are limited to the right facts, the right idea. If correct answer didn't have a limited view, they would encompass the wrong also.


That's not what I meant by limited. I meant limited not as in scope, but in depth, like how a physicist has a much deeper knowledge of physics than his students.

Quote by axethrower13
TS wasn't "predisposed to ignore the answer," he was "predisposed to ignore an answer."


That's not what I meant by "the answer" either. I meant "his answer," as in the answer the teacher gave him.

Quote by axethrower13
I am predisposed to ignore the answer that god created humans; therefore, I look for answer elsewhere, like the big bang.


But if you received a rational, well-thought-out answer that stated god created humans, you would ignore it anyway? I don't mean ignoring it as in deeming it false through analysis, I mean ignoring it as in not analyzing it at all.

Quote by axethrower13
Furthermore, I agree conservatives and liberals can be right on different issues. That being said, if a conservative believes an answer is wrong and describes it as being liberal, that doesn't mean that is the sole reason he has disregarded it. Being "liberal" is just a trait of the answer he received.


Okay, but rationalizing your denial by saying the explanation was "liberal" is almost like saying you denied the explanation because the guy was wearing orange. It has lesser importance on the accuracy of the answer than its other traits. It makes more sense to say something like "I didn't believe it because Nixon had always supported the gold standard" instead of jumping to political bigotry.

Quote by Controlpanel
which part?


The part where the gold standard.

That is not a typo.
Last edited by WizMystery at May 11, 2011,
#28
This could go on for hours. I'd like to continue to explain to you why your reasoning is invalid, but I have a paper due on Greek Architecture tomorrow and I really need to stop getting distracted.


You do however get a token for not resorting to insults when someone questioned your logic. Most intelligent exchange I've had on here in a while.
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#29
Quote by axethrower13
This could go on for hours. I'd like to continue to explain to you why your reasoning is invalid, but I have a paper due on Greek Architecture tomorrow and I really need to stop getting distracted.


You do however get a token for not resorting to insults when someone questioned your logic. Most intelligent exchange I've had on here in a while.


I try. Insults are just tools to delude your opponent by means of emotion.

Maybe the guy was just trying to make a joke, or whatever.
#30
I think it would likely result in a massive depression.

It's pretty much only favored by Ron Paul fanboys and the folks over at the Mises.org forums as far as I know.