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Kearnstd
Space Elf
Premium
join:2002-01-22
Mullica Hill, NJ
kudos:1
reply to sfl0w

Re: Would you pay for Usenet with Bitcoin?

problem is the gold standard just does not work any longer.

But really I never understood it as a ponzy scheme. Though I do know banking as an industry from the reserve on down is never to be trusted even if I keep my money in a bank.

I cannot trust people that, crash an economy, get tax dollars to stay afloat and still get their seven figure bonus.
--
[65 Arcanist]Filan(High Elf) Zone: Broadband Reports

sandman_1

join:2011-04-23
11111
Actually the Gold Standard does work and keeps government spending in check because it, the government, can only spend what it actually has. When Nixon took us off the gold standard, it was the death nail for this country. Our country has been steadily going down hill since then.

Also gold is a good indicator of a weak currency. The higher the gold prices the weaker the currency. Anyway people need to be aware that there is a storm coming and prepare for the worst. Remember the bread lines in the USSR back in the '80s? I can see that happening here.


sfl0w

join:2010-07-20
Birmingham, AL
said by sandman_1:

Anyway people need to be aware that there is a storm coming and prepare for the worst. Remember the bread lines in the USSR back in the '80s? I can see that happening here.

Agreed, I am storing food and buying bullets - the dollar meltdown is only a matter of time - people aught to have heard Ron Paul's warnings...