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| advancedatheist | Posted: Feb 24, 2010 - 10:08 |
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 Level: 3 CS Original | Austrian economists say that fiat money distorts the signaling mechanism of prices in markets, so that it interferes with our ability to make rational decisions about the allocation of resources. Since we price gold in fiat money, wouldn't that problem also happen when the price of gold goes up or down? A rise in the fiat money price of gold could just as easily transmit economic noise as a signal about an imminent "collapse" of the dollar. | |||||
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| Agent Matt | Posted: Feb 24, 2010 - 11:00 |
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 Genuine American Monster Level: 70 CS Original | Ancient civilizations seemed to have gold out the wazoo and as far as I can tell, it didn't really help them much with the whole extinction thing. Shit, even ancient civilizations in Africa had plenty of gold and it didn't stop white settlers from wiping them out. | |||||
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| advancedatheist | Posted: Feb 24, 2010 - 11:34 |
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Level: 3 CS Original | When you think of people who had "real money" based on gold, what comes to mind? Pre-industrial people who lived in poverty, for the most part, like the characters in swords and sandles movies. | |||||
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| Agent Matt | Posted: Feb 24, 2010 - 11:36 |
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Genuine American Monster Level: 70 CS Original | @atheist, Pretty much, yes. And I will put the atrocities of the ancient world up against contemporary atrocities any day of the week. Yeah, the US military might invade a country every now and then but it isn't like raping the population to breed out ethnic enemies is a strategy any more. | |||||
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