RE: RE: Andrew Yang's Siren Song of Free Money Will Cost You Dearly
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RE: Andrew Yang's Siren Song of Free Money Will Cost You Dearly

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"There's no such thing as intrinsic value of gold. Complete Hogwash."

I disagree. A Gold coin has intrinsic value because even when it's melted, the alloy can still be sold off to the market for its original face value or more, and this is because outside of it's monetary form there is intrinsic value. Unfortunately the same cannot be said for the coins we currently have in circulation; this is because the Fed has devalued the dollar so thoroughly, that they've had to resort to devaluing the pennies, nickels, dimes, and quarters as well. Otherwise, people en mass would quickly learn that the easiest way to make money is to melt coins of lesser value and exchange them for dollars.

"Gold money and it's scarcity is exactly why the colonists declared war."

Yes, war and violence tends to erupt because of scarcity, that doesn't mean that the gold wasn't valuable.

"You don't understand where value comes from, you have a simplistic and erroneous notion of how inflation works,"

There is a high demand in industry for gold as the consumable commodity that it is, thus it's valuable.

"and you don't know jack shit about ubi."

When the UBI comes and invariably fails, I hope you enjoy the ensuing chaos. Thus far you haven't been able to point me to a working model on a similar scale as Yang is proposing. Your best attempt was Alaska, and they're able to pull it off because they have the value in the form of oil owned by the state; this allows them to distribute petrodollars to their people without having to tax them for it.

It only happens once a year, not once a month like Yang is proposing, and it’s about 1500 - 2000 bucks per person. Now if you compare that to our entire nation we don’t have the value to distribute, just paper notes of which there is no value attached outside of the power to tax, which is the power to destroy, and destroy it they will, all you have to do is give them the chance and that’s what you’re fighting for. I hope you like dog meat.

"You can postulate all day long that taxes are theft and that inflation is simply a matter of increasing the supply of money"

You come off like the people Nobel laureate Milton Friedman explained here. I think you want the inflation. Friedman clearly reveals that the only way to stop inflation is to have the government create less money and spend less money. However, that's not going to happen with a UBI; the problem will only get worse.

"shit you could have bothered to research but instead you are trying to argue that "inflation is a matter of printing more money".

Nobody that I know disputes this, not even famed economist Milton Friedman, are you more hip to the game than he was?

"saying nonsense like "if a nation does not have money" as nations are what create money, not the fed."

In America, the Fed does create the money, and this is based on its quasi-public/private partnership with the United States. When I said "if a nation doesn't have the money" what I meant is, if it doesn't have the resources to back up the money they print, then it's stupid to keep printing because all they end up doing is grossly devaluing their currency and that essentially (attacks) or is A TAX on everyone's savings account. If you can't see this I don't know how to help you.

"it's not worth debating shit with you."

Nobody's twisting your arm, you can git.

"10000 years of literary hundreds of failed gold standards and economies, mostly because of inflation but also because of scarcity of money. Two periods in that entire history are marked by prosperity like never before, when money was in the form of tally sticks, and when the colonists were issuing their fiat money."

Show me a fiat currency in the history of currencies that's never failed. Apparently you're unfamiliar with the idiom: "Not worth a continental."

"The intrinsic value of gold, what a bunch of idiotic nonsense that when scrutinized it becomes readily apparent what a myth it is without any basis in reason, logic or reality. The same with "if a nation does not have money". Gosh, those poor nations. "the siren song". Lol, the myth of "inflation is a matter of increased supply" as if money functions like a commodity like gold, or as if gold could Ever be, or has Ever been Sound Money or ANY economy has ever benefited from gold."

I don't know how to address this, now you're just raging against reality.