Central Bank Digital Currency to End Inflation

[CrusaderFrank]

Until the California Gold Rush expanded the money supply and caused inflation. Soaring gold output from the California gold rush is linked with a thirty percent increase in wholesale prices between 1850 and 1855.

Fair enough, same think happened to Spain when Mexican silver poured into their economy. But Gold Standard provided a stable currency and standard of living until the 1970's

 

[Ragnar Celine]

Fair enough, same think happened to Spain when Mexican silver poured into their economy. But Gold Standard provided a stable currency and standard of living until the 1970's

The gold standard was ended because there was no longer enough gold. Going back to the gold standard just puts control of the money supply in the hands of the gold mining industry.

 

[Grumblenuts]

Fair enough, same think happened to Spain when Mexican silver poured into their economy. But Gold Standard provided a stable currency and standard of living until the 1970's

Indeed, relatively speaking. Expanding the supply of currency creates inflation, regardless of whether the wealthy do it from the top or a bunch of relatively poor panhandlers from below.

 

[CrusaderFrank]

The gold standard was ended because there was no longer enough gold. Going back to the gold standard just puts control of the money supply in the hands of the gold mining industry.

No, honey. The gold standard ended because the government decided to print their way out of the Vietnam War and Great Society Programs

 

[CrusaderFrank]

Indeed, relatively speaking. Expanding the supply of currency creates inflation, regardless of whether the wealthy do it from the top or a bunch of relatively poor panhandlers from below.

In both cases, it's a rare, massive and temporary influx of gold or silver.

 

[westwall]

Until the California Gold Rush expanded the money supply and caused inflation. Soaring gold output from the California gold rush is linked with a thirty percent increase in wholesale prices between 1850 and 1855.

Only in California.

The rest of the country was normal.

 

[Grumblenuts]

The gold standard was ended because there was no longer enough gold. Going back to the gold standard just puts control of the money supply in the hands of the gold mining industry.

True in large part. Just as Chile's money supply remains largely at the mercy of their copper mining industry. Dunno the exact winning answer, but it must involve investing in the people somehow rather than particular things.

That said, control over money supply / debt must first be wrested from the corporate elite in any case. The banks / insurance industries need to be kept on a short leash.

 

[1srelluc]

Oh, so some leftist Ivy Leaguer has a New World Order economic plan for all of us.

Here was another of his bright ideas:

Robert J. Shiller A moderate tax on robots, even a temporary tax that merely slows the adoption of disruptive technology, seems a natural component of a policy to address rising inequality.

 

[Ragnar Celine]

What is more likely to happen? :

A. Returning to the gold standard.

B. Wresting control of the banking system from the corporate elites.

or

C. Issuing a digital currency indexed to inflation.

 

[Grumblenuts]

What is more likely to happen? :

A. Returning to the gold standard.

B. Wresting control of the banking system from the corporate elites.

or

C. Issuing a digital currency indexed to inflation.

Short of B how could C possibly matter? The wealthiest among us should gain only when the least gain more. Rising tides and all that trickling down crap can go fish.

 

[Ragnar Celine]

Short of B how could C possibly matter? The wealthiest among us should gain only when the least gain more. Rising tides and all that trickling down crap can go fish.

Why should the wealthiest gain only when the least gain more?

Is that something Karl Marx said?

 

[Grumblenuts]

Why should the wealthiest gain only when the least gain more?

Is that something Karl Marx said?

Not that I know of. It's something I said. Jesus may have. Reagan, no.

 

[Grumblenuts]

Why should the wealthiest gain only when the least gain more?

Example:

At Volunteering Matters we were saddened to learn this morning that one million people with care needs in the UK receive no formal or informal support (a rise of 10% over the past year). The Kings Fund and Nuffield Trust report revealed that cuts to local government budgets have led to a 25% fall (in the four years to 2014) in the number of over-65s receiving support from their council.

It has never been more important for our communities to pull together and ensure that our elderly neighbours are receiving the care and support they need. A famous quote from Mahatma Gandhi springs to mind here: ‘the true measure of any society can be found in how it treats its most vulnerable members’.

 

[westwall]

What is more likely to happen? :

A. Returning to the gold standard.

B. Wresting control of the banking system from the corporate elites.

or

C. Issuing a digital currency indexed to inflation.

Civil War is far more likely than any of those.

 

[Ragnar Celine]

Civil War is far more likely than any of those.

You need money to fight a civil war. Are you going to finance the civil war with gold? Bitcoins?

 

[OhPleaseJustQuit]

You need money to fight a civil war. Are you going to finance the civil war with gold? Bitcoins?

Translation: "I really haven't a clue how many guns and how much ammo the American people own".

 

[westwall]

You need money to fight a civil war. Are you going to finance the civil war with gold? Bitcoins?

No you don't. Civil wars are fought because people are starving or their government is attacking them

You are remarkably ignorant. Most likely you are a troll.

 

[Ragnar Celine]

No you don't. Civil wars are fought because people are starving or their government is attacking them

You are remarkably ignorant. Most likely you are a troll.

I stand corrected. You may not need money to fight a civil war, but you do need money to win.

 

[Ragnar Celine]

Translation: "I really haven't a clue how many guns and how much ammo the American people own".

Doesn't a civil war mean the people are fighting each other? With guns? that cost... money?

 

[OhPleaseJustQuit]

Doesn't a civil war mean the people are fighting each other? With guns? that cost... money?

Look folks, a bot that really does not understand English.