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Jeff
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Re: A Libertarian Approach To Foreign Policy
Reply #40 - Jun 19th, 2019 at 1:55pm
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BobK71 wrote on May 29th, 2019 at 10:39pm:
It was the historical forces that made the gold standard untenable by the early 20th century. 
Right. Governments issued too much paper. History forced them to do that.
  

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Re: A Libertarian Approach To Foreign Policy
Reply #41 - Jun 19th, 2019 at 1:58pm
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SkyChief wrote on Jun 19th, 2019 at 11:20am:
AFAIK, there is only ONE way to end inflation:

Back the currency with some commodity, and absolutely require that the currency can be converted ON DEMAND with the commodity.

Meaning that the only way the money supply can be increased is if the (backing) commodity is also increased.

Once this relationship is achieved, inflation becomes impossible.  Military aid to foreign countries becomes impossible.    Intervention and regime changes become impossible.

I think I'm on to something here. . .
Great idea Chief! (But it won't make military aid or intervention impossible, just more difficult... And of course if the nation is attacked, temporary issue of fiat money might be necessary...)
  

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Re: A Libertarian Approach To Foreign Policy
Reply #42 - Jun 19th, 2019 at 2:28pm
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One of the things the libertarians at th campus talked about was inflation and how the fed just keeps printing money. I am a little clueless lol why do they do that?
  
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Re: A Libertarian Approach To Foreign Policy
Reply #43 - Jun 19th, 2019 at 2:59pm
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Industry wrote on Jun 19th, 2019 at 2:28pm:
One of the things the libertarians at th campus talked about was inflation and how the fed just keeps printing money. I am a little clueless lol why do they do that?
They can finance a huge welfare/warfare state without having to raise taxes much at all, and it gives them a lot of power, and they manage to get a lot of the money into their own pockets... I'm speaking historically of course...

And it artificially pumps up the economy too! People like a good strong economy!
  

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Re: A Libertarian Approach To Foreign Policy
Reply #44 - Jun 19th, 2019 at 4:29pm
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Industry wrote on Jun 19th, 2019 at 2:28pm:
One of the things the libertarians at th campus talked about was inflation and how the fed just keeps printing money. I am a little clueless lol why do they do that?

Right.  Libertarians (typically) advocate individual and government responsibility and accountability.

That means to limit spending within one's means.

As individuals, many Americans spennd beyond their means, and get caught in an unsustainable debt-spiral.

The US government does this, too.   

The country is currently insolvent.

This means the national debt exceeds our ability to ever pay it back, should our creditors decide to call their debts.

It's an amazingly precarious position to be in, and it will only get worse.

The good news is that it can't go on forever.  Someday, there will be a "correction".   And a reset.

We needed a reset 48 years ago, but it never came.   So the next one will be. . .ummm. . . difficult for many.

Bankers and stock brokers will be jumping out of hi-rise buildings.     I doubt they'll be missed.

If you diversify your portfolio with precious metals, you will come out on top when the dust settles.

Smiley
  
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Re: A Libertarian Approach To Foreign Policy
Reply #45 - Jun 19th, 2019 at 4:46pm
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Industry wrote on Jun 19th, 2019 at 2:28pm:
One of the things the libertarians at th campus talked about was inflation and how the fed just keeps printing money. I am a little clueless lol why do they do that?

Personally, I don't get it.  Seems to be a bug-a-boo of a lot of libertarians, they want to return to the gold standard.  Maybe if you minor in business or economic you can figure this one out and report back in four years.
  
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Re: A Libertarian Approach To Foreign Policy
Reply #46 - Jun 19th, 2019 at 5:11pm
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So will China like own America?
  
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Re: A Libertarian Approach To Foreign Policy
Reply #47 - Jun 19th, 2019 at 8:47pm
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Industry wrote on Jun 19th, 2019 at 2:28pm:
One of the things the libertarians at th campus talked about was inflation and how the fed just keeps printing money. I am a little clueless lol why do they do that?


It is my understanding that they do it because money itself is a scam. It has no value of its own.

Because money can be exchanged for goods and services, whoever prints money gets goods and services for nothing.

You can tell because they must entirely control the supply of money so that only they gain the benefit.

If I had a replicator, no one would have much cause to bother me because I replicated a piece of bread or even duplicated my cat. These things have actual value, in other words they bring benefits and not detriments, so it's logically impossible for someone to be worse off because there are more of these things... unless the things start to be used as money (or even status symbols I suppose) which means the value placed upon them would outstrip their actual value.

If I counterfeit a dollar, the police will break down my door and arrest me because I am stealing a benefit reserved only for the privileged few permitted to print the money.

Every new dollar comes at a cost to everyone already in possession of a dollar, but benefits the person who gains the new dollar.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
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Re: A Libertarian Approach To Foreign Policy
Reply #48 - Jun 19th, 2019 at 9:41pm
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Industry wrote on Jun 19th, 2019 at 5:11pm:
So will China like own America?

Unfortunately, yes.

But only for a short period of time.

They are consumed by debt as much as the U.S.

Only ONE will emerge intact.

Who will it be??
  
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Re: A Libertarian Approach To Foreign Policy
Reply #49 - Jun 20th, 2019 at 7:34am
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ahhell wrote on Jun 19th, 2019 at 4:46pm:
Personally, I don't get it.  Seems to be a bug-a-boo of a lot of libertarians, they want to return to the gold standard.  Maybe if you minor in business or economic you can figure this one out and report back in four years.
You don't understand inflation, or you don't understand why people might not like the results of inflation?

Here's some reading that might help you understand:

https://www.cato.org/publications/commentary/money-inflation-rising-world-commod...
  

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