Seriously this channel deserves more views than it gets.

@wuyeelok

7 жыл бұрын

Why? The lecture just want you to buy gold.

@swilliams937

4 ай бұрын

*use gold.

17:30 - Murray Rothbard once said that America and Great Britain were on the wrong side of every war they fought, except for the American Revolution and the War of 1812. He said, well, the American Revolution- the Americans were on the right side, and the War of 1812- the British were on the right side.

So in a nut shell we don't have any gold and we are broke,good job democrats!

@Nick-yn2uz

4 жыл бұрын

Scott St.Clair certainly not just the democrats though

@stayswervin554

3 жыл бұрын

Tbf Nixon took us off the gold standard

@Zeupater

7 ай бұрын

Gold doesn’t equal money. It’s just one asset that mostly has use in electronics. Fiat currency is supported by all assets in the economy. It can be exchanged for tires, food, clothes, real estate, etc. Have you ever tried to buy groceries with gold?

@Zeupater

7 ай бұрын

4:51 Simply not true. Dollars can represent any asset or commodity. Try buying groceries with gold.

That gold prohibition in the US from 1934 to 1975 tells us all we need to know about what happened to the Land of the Free when usurers took off the gloves.

"That's not an exchange rate, it's simply a law of arithmetic." I believe the term you're looking for there is "conversion factor".

If only there was something limited in supply (let's say 21M) with a perfectly determined inflation schedule that is decentralized that you could move around the world at the speed of light where the transaction is also the final settlement and that you could even exchange from peer to peer. Possibly that thing would also be digital and enable full ownership and sovereignty over one's assets... that world reserve currency would be amazing. I hope someone invents something like this soon.

How does the national banking act signed into law by president Lincoln fit into this topic?

How could he possibly have gotten away with taking away everybody's gold? It was just an executive order, it doesn't have the authority of law behind it, it wasn't passed by congress. Did this ever go to the supreme court or anything like that?

@lawrencemiller3829

4 жыл бұрын

How can the EPA get away oppressing a farmer who dug a pond on his property far away from other waters, while the EPA claimed the authority under the navigable waters act? I think the short answer is the government does not have oversight, including the mass of people. Couple this those that believe the government actually produce (vs rob the productive) and there is a significant part of the populace that want socialism of some sort (robbing), Unfortunately.

46:40 18:16 48:00 49:29

bring back the gold standard and put restrictions on the federal government hands with the gold standard punished them period

@wuyeelok

7 жыл бұрын

Please explain to me how gold standard solve unemployment problem?

@robe_p3857

7 жыл бұрын

Kenneth WU Labor market is subject to the basic laws of supply and demand. If u impose a minimum wage, it creates a surplus of low skill workers, hence unemployment. The reason for the apparent "need" for a minimum wage in the current economic system is because of inflation. Poor people are the ones who struggle to pay the inflated cost of living. The same house that sells for 250k today, could be bought for 15k in 71'. Similar situation in tuition prices, and prices across the board. The gold standard a way of providing a stable currency base that doesn't lead to boom and bust and perpetual inflation.

@wuyeelok

7 жыл бұрын

Robert Ponder​ Show me a country that has deflated into prosperity.

@robe_p3857

7 жыл бұрын

Kenneth WV The deflation that u are familiar with happen after credit bubbles burst. It is actually the liquidation of bad "loans". However the "loaned" money was created, and disappears upon default. That is what is meant by deflation in fiat system. Yes, it is painful. However the problem was inflating the bubble in the first place. "Deflating into prosperity" is misleading. Deflation under a gold standard is just the natural outcome of a growing economy with a stable monetary base. Cost of living falls because the currency appreciates. USA prior to Federal Reserve Act and WW1 are an example.

@wuyeelok

7 жыл бұрын

Robert Ponder what are u talking about? "Deflation under a gold standard is just the natural outcome of a growing economy..." During delation, people will wait instead of spending, why spend today if you can buy more stuff will the same amont of money. You forgot your income also drop during deflation. If your income drop, you will cut your expense. Your expense is someone else income. Other people income drop lead to cutting spending... No idea why you describe delation is a growing economy.

Petrodollar. Look it up

gosh he stutters a lot

@ba1anse

7 жыл бұрын

agreed, but it makes understanding his talk a bit difficult nontheless