LegendKiller
Lifer
- Mar 5, 2001
- 18,256
- 68
- 86
Originally posted by: Mavtek3100
Originally posted by: LegendKiller
Originally posted by: PC Surgeon
Originally posted by: bamacre
I would be happy to see a large percentage of our 700 overseas bases closed up. We simply must shave off military spending. I oppose a permanent base in Iraq.
I would be ok with the Fed staying, but I would like to see some more oversight. I think the overspending Congress is a bigger problem.
Let me agree with a few hard facts. I would say close 70% of those bases. They arent needed and could save us tons of cash.
FED: Not only do I want congressional oversight, I want a regular audit of FED assets. A slow gradual move to hard assets. Then some kind of rule as to how much money can be printed and only in emergencies (clearly defined as: war).
I reserve the right to edit my conditions![]()
Umm, there is a quarterly and annual audit of Fed assets.
Why a move to hard assets? Everybody has already proven that thats a bad system. Furthermore, if it was a great system, then why haven't any other countries taken it up? What about Austria, the famed home of Mises? If it was such a rocking system and it worked so well, then a country would have adopted it and had been kicking ass.
Yes the Fed's assets are indeed audited. My only argument for the movement to hard assets is the relative hamper it clamps on inflation. I like Mises do not see why inflation has to be part of an economy. What is the point of inflation in a currency, and why is more rampant in a fiat system than one backed by something? To hedge the response, when we had the gold standard inflation was an issue but the rate of inflation was much much less than it is now.
That is much better. The key to the idea that inflation can be 0 is that, without a cushion of inflation, then prices aren't stable, since they can rapidly decline into deflation. In a highly connected goods, services, and capital markets, this wild gyration adds to uncertainty. Uncertainty leads to reduced investments in the future, since people never know what's going to happen.
One of the major reasons why the US capital markets and economy are world leaders is because we try to manage to a certain level of inflation and currency performance.