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Politics : Formerly About Advanced Micro Devices
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To: Bilow who wrote (756209)12/8/2013 8:48:23 PM
From: RetiredNow  Read Replies (1) of 1574761
 
I do not claim that QE is a silver bullet that instantaneously solves all stagnation problems. QE is not a "trick" that cures depression. No such silver bullet exists. Go read the literature. There is no cure for depressions. You have to wait them out.

Agree with this statement. You keep saying that I'm for hard money, but I'm not a hard money guy. I think it's better than unlimited printing like we have now, but I think there is a better way than hard money. If I were king, what I would institute is monetary freedom. What I mean by that is I'd let ANY currency compete. If people wanted to use gold, bit coins, coffee beans, or my fiat currency as a medium of exchange, then I would make sure our laws and regulations treat all those equally. I wouldn't institute high taxes on gold and go after bit coin exchanges like we do in the US to protect my shitty fiat currency.

The bottom line is that I'd allow free markets to determine the best medium of exchange. If I want my fiat currency to be able to compete as a store of value, then I'd do what's necessary to make it competitive by limiting how much I print and maintaining fiscal sanity. And I'd do what Keynes REALLY meant with his economic policies by saving up a surplus in good years, so that I could deficit spend a bit in lean years. All of these kinds of policies would be far better than the absolute irresponsibility that we're engaging in right now.
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