SC Keepin' It Real

#2
#2
"Bright's legislation said the Federal Reserve System is at risk from hyperinflation."

So let me get this straight. he's going to prevent hyperinflation by printing more money?
 
#5
#5
I doubt it flies but it could be a stroke of genius if they attach it to a precious metal... like gold, silver, copper, or platinum.

The problem he's recognizing isn't as far fetched as you guys are acting. The dollar is weak and Obama's policies are making it weaker... anyone notice your gas going up recently?
 
#6
#6
sjt18 said:
I doubt it flies but it could be a stroke of genius if they attach it to a precious metal... like gold, silver, copper, or platinum.

The problem he's recognizing isn't as far fetched as you guys are acting. The dollar is weak and Obama's policies are making it weaker... anyone notice your gas going up recently?
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no question hyperinflation is a significant potential problem. not sure how this solves anything though.
 
#7
#7
droski said:
no question hyperinflation is a significant potential problem. not sure how this solves anything though.
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It doesn't for the US. It might for SC.

During the Civil War, Confederate currency was poorly supported and hardly ever trusted. It was all but worthless. You have to smirk when you read that Lee paid Pennsylvanians for the shoes they took with Confederate money... basically they stole them.

We still have a Virginia note from around 1863 for a surveying job one of my ancestors did.

Ask yourself what gold and silver have done vs the dollar over time... that would be the SC dollar vs the US dollar.
 
#8
#8
sjt18 said:
Ask yourself what gold and silver have done vs the dollar over time... .
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gold has returned less than inflation over the past 30 years. as an example during the US most recent run of rampant inflation (early 80s) gold halved in price. this recent run has clouded reality quite a bit.

and that is completely disregarding how impossible it would be to have a second currency in this country
 
#9
#9
Like I said, probably won't fly... but it could work. I don't really think it is possible for gold to do worse than the dollar any time soon. Our debt ratio is too high now.
 
#13
#13
Local currencies. Maybe not a bad solution.

Although gold is only useful to for SEM sample sputtering and fuel cell end plates, having the currency actually attached to some physical meaning is vitally important IMHO. Leaving the gold standard permited the wild cat speculation, financialization, and securitization which has sent the system to smash. Without constant repairs (read, QE3, 4, 5, 6...) which will feature always until the first big push (like, we really are on the oil production plateau / China starts buying Euros) it crashes the system into the side of Clingman's Dome.

Note: the system was, as predicted, always going to crash irrevocably one day. Its strength has been its ability to adapt to crisis.
 
#15
#15
droski said:
gold has returned less than inflation over the past 30 years. as an example during the US most recent run of rampant inflation (early 80s) gold halved in price. this recent run has clouded reality quite a bit.

and that is completely disregarding how impossible it would be to have a second currency in this country
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we have a second currency called silver. It dictates alot. Not what you are meaning though. But you know what I mean.
 
#16
#16
This guy is one of the conspiracy theorists in the Beck camp of lunacy.

Everyone realizes that inflation is a highly possible result of coming out of this recession, the interest rate balance, etc. But the type of hyperinflation that would warrant a state printing its own currency, especially based on the gold standard, is just nutso.

His district has to be really embarrased by this kind of nutjob.
 
#17
#17
lawgator1 said:
This guy is one of the conspiracy theorists in the Beck camp of lunacy.

Everyone realizes that inflation is a highly possible result of coming out of this recession, the interest rate balance, etc. But the type of hyperinflation that would warrant a state printing its own currency, especially based on the gold standard, is just nutso.

His district has to be really embarrased by this kind of nutjob.
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People stopped being embarassed by their government a long time ago. We've become de-sensitized to stupidity.
 
#18
#18
lawgator1 said:
This guy is one of the conspiracy theorists in the Beck camp of lunacy.
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As opposed to those who mindlessly insist the Tea Party is racist?

Everyone realizes that inflation is a highly possible result of coming out of this recession, the interest rate balance, etc. But the type of hyperinflation that would warrant a state printing its own currency, especially based on the gold standard, is just nutso.
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No it isn't. Your hero President while claiming to really bite the bullet just offered a ridiculously large budget that won't even begin to dent the deficit problem. He is engaged right now in an effort to further de-value our currency to make himself look better and as a desperate attempt to generate foreign and domestic demand for US goods. In past generations, liberals called this "exporting poverty".

His district has to be really embarrased by this kind of nutjob.
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Why? Because his aren't closed to the possibilities?

Neither national party has an interest in being honest about the dangers of the gov't's budget problems. The few that are will quickly be labeled "nutjobs" and "lunatics" by the enlightened left and their MSM dupes.
 
#19
#19
salutethehill said:
People stopped being embarassed by their government a long time ago. We've become de-sensitized to stupidity.
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Considering someone as completely unqualified as Barack Obama was elected President... there's really no lower we can go.
 
#20
#20
lawgator1 said:
His district has to be really embarrased by this kind of nutjob.
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If the likes of Barney Frank, Ted Kennedy, Nancy Pelosi, Jackson-Lee, etc, etc, etc do not embarrass you then you are in no position to lecture the fine folks of SC.
 
#21
#21
sjt18 said:
Considering someone as completely unqualified as Barack Obama was elected President... there's really no lower we can go.
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most political gigs are now about being a sleazy salesman type, so he's actually overqualified.
 
#24
#24
not sure why someone would want to buy paper thats backed by gold and silver, when you can go out and buy actual gold and silver coins
 
#25
#25
VolsNSkinsFan said:
not sure why someone would want to buy paper thats backed by gold and silver, when you can go out and buy actual gold and silver coins
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Especially at a 40 % premium from Beck. But his are magical because if you accidentally walk into a wormhole and find yourself in a narrow period during 1933 they cannot be confiscated. So worth the extra money its not even close.
 
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