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Originally posted by menjo2000
reply to post by dj05544
Actually, I am curious, why people think Cheney has ANYTHING to do with the gas prices??
Originally posted by Yarcofin
The main problem with gold is that it is heavy to carry and you risk getting your gold stolen if you are just walking around with it. It's also very hard to give exact change with gold. Very quickly a gold economy would start turning into a promissiary note system where you pay people to safeguard your gold. Then whenever you want to pay someone, you both have to go to the bank and physically give your gold to the other party. People will then start simply taking the certificates themself as payment. The bank already knows from history that not everyone is going to withdraw their gold all at once, so they will start lending out some of the "extra" gold. Now you have more gold in the economy than actually exists, and the terrible cycle starts all over again. It's also much easier to just print money than issue gold.
People still think that we went in to Iraq for oil, we never got our oil there in the first place, second, when did America ever "take" anything?? Name one please =)
Originally posted by RetinoidReceptor
The main reason why currencies are not backed up by gold is because it is very hard to grow economies when currencies are backed by gold because gold is a resource...and not an unlimited one at that. Fiat currency can be printed when the economy grows and more money is being used by everyone.
That is the beauty of fiat currency over gold backed currencies.
Originally posted by Yarcofin
Well, maybe not big piles... the problem might actually be the opposite. Try accurately measuring out $5 from gold, when it's at nearly $800 an ounce. $5 in gold would be 1/5th of a gram or something ridiculous. Most digital scales can't measure in less than 1 g increments. Everyone would have to carry around super-accurate pocket scales of some kind. Any purchase under $100 you'd basically be paying with gold dust. With such small particles you're bound to lose a little here, a little there, every time you take it out. And god forbid you open your gold pouch on a windy day .
[edit on 12/9/2007 by Yarcofin]
Originally posted by Perplexed
I don't think the US will sit by and let Iran sell Oil in Euros. I think they will use Israel as the rebellious child that doesn't agree with the NIE. Israel attacks Iran, Iran retaliates against Israel and US troops in the area. US can now enter a state of war with Iran based on attacks on US troops. US then moves in, dumps the Euro in favor of the dollar as they did in Iraq.
I think the NIE was orchestrated to do exactly this. Bush and company are frustrated in movement on this new war front and their time is running out so they fabricate this NIE. Israel is told to attack soon after the release of the report based on their "own intelligence." The US can now go full scale once Iran retaliates against the US and Israel.
If I am not mistaken Iraq did start selling oil in Euros and soon after we attacked did we not? Then we went in and converted the Euro reserves to dollars and started selling oil in dollars once again. I think I read this on ATS somewhere?
If it does play out like this I wonder what the calculations are. Is the US considering what the rest of the world might do and more importantly what Russia may do in the event Israel and the US go at it with Iran? Will they sit it out? What would China say? How about Sera? Didn't they sign a mutual defense pact with Iran?