Why Issue Treasuries?

[SuburbanFarmer]

Let's back up.

DB. Are you working from an assumption that 'gold-based currency' involves someone moving gold bars from vault to vault in the background?
Or that you can actually exchange the dollar for physical gold at any time?

That's not how it works.

[DBTrek]

For the fourteenth time, bank runs that resulted in the state having to hand gold over for notes were the death knell of the gold standard in England, it’s a fatal flaw of that system.
/shrug


Can’t imagine what sort of nonsequitirs and random goal post shifts will come next as you all struggle to preserve a clearly false idea for yourselves.

[Hanarchy Montanarchy]

Wait... did anyone tell DB that bank runs aren't caused by the gold standard yet?

I think that is a critical debate point here.

[Fife]

When someone removes a cancer, what do you replace it with?

[DBTrek]

Can we agree that fiat currency and the Fed aren’t synonymous? The Fed prints our fiat currency, but it hardly prints all fiat currency. Ergo the actions of the Fed (beyond printing money and lending to banks) are a separate issue from the general issues surrounding gold standard vs fiat.

(And I notice TS pointedly did not advocate going back to the gold standard)

[SuburbanFarmer]

Can we agree that fiat currency and the Fed aren’t synonymous? The Fed prints our fiat currency, but it hardly prints all fiat currency. Ergo the actions of the Fed (beyond printing money and lending to banks) are a separate issue from the general issues surrounding gold standard vs fiat.

(And I notice TS pointedly did not advocate going back to the gold standard)

The Fed only exists because of fiat currency. It exists to control fiat currency, and is made up of the biggest holders of fiat currency. It directly manipulates the value of fiat currency.

Yes, they are the same thing. Two conjoined tumors hanging off of America's lung, if you prefer.

[DBTrek]

Ok then.
I’ll turn the thread over to the TC clones.
Repair your wounded ideology minus interference from me.

[SuburbanFarmer]

Ok then.
I’ll turn the thread over to the TC clones.
Repair your wounded ideology minus interference from me.

Thanks for playing, clown.

[doc_loliday]

One nice thing about dollars is that gold is still valuable. So, go out and get all the gold you want, nobody is stopping you.

As an aside, if I had a lot of gold, I'd probably trade it for dollars.

[SuburbanFarmer]

One nice thing about dollars is that gold is still valuable. So, go out and get all the gold you want, nobody is stopping you.

As an aside, if I had a lot of gold, I'd probably trade it for dollars.

....or, you could enjoy the fact that it appreciates value at the rate of inflation, while your fiat papers slowly disintegrate in your pocket.

....or, you could even hold it in anticipation of the day that the fiat circus tent falls down, and gold's true value is let loose, without the blatant manipulation by central banksters, holding the value down.