another mindless rant about inflation and the eCONomy at large.

[mohammad]

I only use them to store and watch pirated movies.

I thought you didnt want your bank accounts being frozen

[Fummins]

I thought you didnt want your bank accounts being frozen

I cleaned out my accounts and now buy everything with gold. It's a little inconvenient but worth it. Fill up your cars, I heard gas is going up another 7c this weekend...Bring on $2/L fuel please

[CROSSBOLT]

I cleaned out my accounts and now buy everything with gold. It's a little inconvenient but worth it. Fill up your cars, I heard gas is going up another 7c this weekend...Bring on $2/L fuel please

Back awhile I used the day's fix for gold, assumed what the US Congress declared value of $20.00 USD/ounce, the then current price for gas at$3.25/ US gallon and the gold equivalant was about $.06/ US gallon. Meaning if FDR had not pulled his un-constitutional stunt in 1933 of forcing citizens to sell their gold at 20 bucks an ounce AND LBJ or Nixon had not called in the silver in 1964, we would have had steadily declining prices for everything right up to today.

We would still be a society based upon saving up for stuff instead of groveling to banks for loans. Banks would still exist but they would not have the power they have today and there would be NO phony central bank to control the economy.

I sat through so many BS lectures in college it is hard to say which one was full of the most BS. One stands out for this discussion by not telling the whole story of supply and demand. They left out the part about the effect of inflation. Inflation CAUSED by counterfeit currency, big government spending of borrowed "money" and credit created out of thin air. The neat, crossed curves of supply and demand are changed by inflation. The demand curve steepens as the inflation happens or steepens. People get in a rush to buy when they think the price will increase. We saw it during Nixon where inflation zoomed double digit when silver was removed from circulation replace by "plywood" bi-metal coin laminates which are COUNTERFEIT! They even changed the penny from solid copper to copper plated zinc frauds! Why? Good question! Because the actual value of the copper in EACH penny was worth more than the counterfeit dime!

None of anything like this was discussed in Econ 101 or anywhere else in advanced economics classes. That kind of empty "higher learning" was about as useless as the engineering classes I took. Those were taught by professors and student instructors none of which had any experience at actually doing anything in engineering in the real world.

Inflation is phony currency and it will get worse in a cashless echange fueled by fantasies of crypto-currency.