Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
What do you think of this auction?
>
Reply to Thread
Message:
<p>[QUOTE="Detecto92, post: 1475500, member: 75105"]But where did the money necessary to create 5 billion in value come from? It does not grow on trees.</p><p><br /></p><p>You cannot print money without having something to back it, which is why we need to go back to the gold standard.</p><p><br /></p><p style="text-align: left"><span style="color: #000000"><font face="Times New Roman">When the gold standard was in place, the economy grew and inflation remained at bay, and the reverse happened when it was scrapped.</font></span></p> <p style="text-align: left"><span style="color: #000000"><font face="Times New Roman"><br /></font></span></p> <p style="text-align: left"><span style="color: #000000"><font face="Times New Roman"></font></span> <span style="color: #333333"><font face="Lucida Grande">In terms of pure numbers, what cost $1 in 1913 would cost $22.82 today. We have had a cumulative inflation rate of 2182 percent in nearly 100 years. The US currency was taken off the gold standard in 1933, and obviously this has not curbed inflation. Pegging our currency to a tangible source is one of many ways to protect it against inflation.</font></span></p> <p style="text-align: left"><span style="color: #000000"><font face="Times New Roman"><br /></font></span></p> <p style="text-align: left"><span style="color: #000000"><font face="Times New Roman"></font></span><span style="color: #000000"><font face="Times New Roman"></font></span></p> <p style="text-align: left"><span style="color: #000000"><font face="Times New Roman"><br /></font></span></p><p>[/QUOTE]</p><p><br /></p>
[QUOTE="Detecto92, post: 1475500, member: 75105"]But where did the money necessary to create 5 billion in value come from? It does not grow on trees. You cannot print money without having something to back it, which is why we need to go back to the gold standard. [LEFT][COLOR=#000000][FONT=Times New Roman]When the gold standard was in place, the economy grew and inflation remained at bay, and the reverse happened when it was scrapped. [/FONT][/COLOR][COLOR=#333333][FONT=Lucida Grande] [/FONT][/COLOR][COLOR=#333333][FONT=Lucida Grande]In terms of pure numbers, what cost $1 in 1913 would cost $22.82 today. We have had a cumulative inflation rate of 2182 percent in nearly 100 years. The US currency was taken off the gold standard in 1933, and obviously this has not curbed inflation. Pegging our currency to a tangible source is one of many ways to protect it against inflation.[/FONT][/COLOR] [COLOR=#000000][FONT=Times New Roman] [/FONT][/COLOR][COLOR=#000000][FONT=Times New Roman] [/FONT][/COLOR][/LEFT][/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
What do you think of this auction?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...