Quick Ron Paul questions.

[techs]

Is it true that Ron Paul wants to allow private mints to print their own money and get the US out of the dollar business? Is he serious? Private money? A hundred different currencies? A thousand? Backed by....what?

Is it true Ron Paul is against all livestock being tagged to provide a trail to prevent diseased animals from entering the food supply?

I just heard these two things.
Are they true?

 

[SleepWalkerX]

Originally posted by: techs
Is it true that Ron Paul wants to allow private mints to print their own money and get the US out of the dollar business?

Yup. Instead of just flat out eliminating the Fed he'd probably just allow competition and let the market decide. People can deal in fiat money, but eventually they'll realize that it isn't worth jack.

Originally posted by: techs
Is he serious? Private money? A hundred different currencies? A thousand? Backed by....what?

Yup. As many as the market decides. Eventually they'll only be a few big standards. Businesses seem to adapt just fine to accepting multiple kinds of payment (cash, check, five or six different credit cards, cashier's checks, etc).

Backed by whatever the market wishes. Traditionally it has been gold and silver, but that doesn't mean that a new commodity won't come along (or people will start to show more demand for a different commodity) and give those two a run for their money.

Originally posted by: techs
Is it true Ron Paul is against all livestock being tagged to provide a trail to prevent diseased animals from entering the food supply?

Its currently voluntary, but NAIS will make it mandatory. If you want to eat food that's been electronically tagged and secured then by all means go buy some and support that cause. But don't force it on everyone. I don't think this is necessary.

Originally posted by: techs
I just heard these two things.
Are they true?

Yup.

GO RON PAUL!

 

[Duddy]

Ron Paul is my dad!!!

 

[nonameo]

Originally posted by: SleepWalkerX

Originally posted by: techs
Is it true that Ron Paul wants to allow private mints to print their own money and get the US out of the dollar business?

Yup. Instead of just flat out eliminating the Fed he'd probably just allow competition and let the market decide. People can deal in fiat money, but eventually they'll realize that it isn't worth jack.

Originally posted by: techs
Is he serious? Private money? A hundred different currencies? A thousand? Backed by....what?

Yup. As many as the market decides. Eventually they'll only be a few big standards. Businesses seem to adapt just fine to accepting multiple kinds of payment (cash, check, five or six different credit cards, cashier's checks, etc).

Backed by whatever the market wishes. Traditionally it has been gold and silver, but that doesn't mean that a new commodity won't come along (or people will start to show more demand for a different commodity) and give those two a run for their money.

Originally posted by: techs
Is it true Ron Paul is against all livestock being tagged to provide a trail to prevent diseased animals from entering the food supply?

Its currently voluntary, but NAIS will make it mandatory. If you want to eat food that's been electronically tagged and secured then by all means go buy some and support that cause. But don't force it on everyone. I don't think this is necessary.

Originally posted by: techs
I just heard these two things.
Are they true?

Yup.

GO RON PAUL!

The only problem I can see with allowing everyone to make currency is that it will get confusing. For instance, let's say you're a merchant.

You'd have to know that:

Currency A is 1.00

B is worth 0.75 of A
C is worth 1.39
D is worth 5.50
E is worth 3.49
...

No profit.

And so on.

Congress has the power to coin money, and I think that it wouldn't be so far fetched to allow CONGRESS to create a competing currency to the current dollar, though I don't think that will happen. The president isn't congress after all.

The important thing to understand about Paul is that he doesn't like the federal reserve system, And would work for ideas that HE thinks would fix it or make it better.

IOW, it is irrelevant that he thinks everyone should be able to make their own money, because it simply won't happen. The real question is do YOU support him on the monetary policy parts that MATTER.

 

[Mavtek3100]

Yes I'm still shocked that our government literally confiscates all your gold and prosecutes you if you attempt to barter in gold and silver. That's messed up, how is that freedom?

 

[Mavtek3100]

I don't see a problem with multiple currencies especially if you use a CC or debit card mostly.

 

[NoStateofMind]

Originally posted by: Mavtek3100
Yes I'm still shocked that our government literally confiscates all your gold and prosecutes you if you attempt to barter in gold and silver. That's messed up, how is that freedom?

No shit.

 

[Brainonska511]

Originally posted by: Mavtek3100
Yes I'm still shocked that our government literally confiscates all your gold and prosecutes you if you attempt to barter in gold and silver. That's messed up, how is that freedom?

Any links to back that up?

Edit:
After reading the Ron Paul "Cagematch" thread, don't even bother.

 

[Mavtek3100]

http://www.newswithviews.com/Ryter/jon201.htm

There you go brain.... You read through the cage match? I'm still waiting on quite a few answers in that one.

 

[Brainonska511]

Originally posted by: Mavtek3100
http://www.newswithviews.com/Ryter/jon201.htm

There you go brain.... You read through the cage match? I'm still waiting on quite a few answers in that one.

Yes. I read almost all of it and I have to say, the RP side of the argument was not that good. I agree with LK throughout most of that thread.

 

[LegendKiller]

Originally posted by: Mavtek3100
http://www.newswithviews.com/Ryter/jon201.htm

There you go brain.... You read through the cage match? I'm still waiting on quite a few answers in that one.

I gave up and realized that RP will still only get 10% of the vote, or less, and that you guys don't really matter. Fringe candidates go to the fringe and are relegated to no mans land, so why even bother anymore?

You'll go on with your conspiracy theories and stupidity without realizing the truth.

That's fine, you go on with your marginalized life and I will aspire to something greater. Enjoy the fringe because you'll be there for the rest of your life.

 

[Mavtek3100]

Ok Brain, well I never got an explanation as to why Ron Paul's idea on monetary policy is incorrect or loony. That's ok, LK is in finance, but that doesn't make him right on monetary policy or give him the ability to explain why Ron Paul, Rothbard, or Mises were incorrect regarding competing currency or abolishment of the Federal Reserve.

 

[LegendKiller]

Originally posted by: Mavtek3100
Ok Brain, well I never got an explanation as to why Ron Paul's idea on monetary policy is incorrect or loony. That's ok, LK is in finance, but that doesn't make him right on monetary policy or give him the ability to explain why Ron Paul, Rothbard, or Mises were incorrect regarding competing currency or abolishment of the Federal Reserve.

According to you, a person not in the specific area of study cannot opine or be right. As such, since RP's only forte is vaginas, and Rothbard and Mises' only forte was theoretical prognostications, while I am working in the field and can see the truth, you cannot doubt me. Even if Rothbard and Mises' education and theoretical bullshit mattered, your opinion is still worthless since you have neither education or practice.

 

[NoStateofMind]

BTW LK, did you ever check out that book? Crash Proof? I think I linked to a review.

Here it is to save time:

Crash Proof Review

 

[Mavtek3100]

Originally posted by: LegendKiller

Originally posted by: Mavtek3100
http://www.newswithviews.com/Ryter/jon201.htm

There you go brain.... You read through the cage match? I'm still waiting on quite a few answers in that one.

I gave up and realized that RP will still only get 10% of the vote, or less, and that you guys don't really matter. Fringe candidates go to the fringe and are relegated to no mans land, so why even bother anymore?

You'll go on with your conspiracy theories and stupidity without realizing the truth.

I never brought up a conspiracy theory nor do I give a shit about them, I was talking about monetary policy and I even gave you a 41 minute video explaining that policy to you. You said it was loony, yet you never proved how it was loony. There is nothing conspiratorial about a competing currency nor 100% reserve banks. Like I said you are just incredibly indoctrinated in the status quo. There's nothing wrong with a precious metal backed currency.

That's fine, you go on with your marginalized life and I will aspire to something greater. Enjoy the fringe because you'll be there for the rest of your life.

Yes and you also go on with your indoctrinated, status quo, never looking outside the box, never attempting or realizing true potential because you refuse to believe that authority or what works now, could be wrong or less effective. Yes and I'll continue to fight to not be marginalized as I will always be looking to new or "crazy" ideas to help improve my life and the lives of my fellow man.

I have a question for you LK, what's your average rate of return on your status quo investment portfolio?

 

[BeauJangles]

Originally posted by: Mavtek3100
Ok Brain, well I never got an explanation as to why Ron Paul's idea on monetary policy is incorrect or loony. That's ok, LK is in finance, but that doesn't make him right on monetary policy or give him the ability to explain why Ron Paul, Rothbard, or Mises were incorrect regarding competing currency or abolishment of the Federal Reserve.

I'm still wondering how you can possibly twist reality so much to conform to your views. Everything people have told you goes in one ear and out the other if it doesn't match what you believe.

Not only that, but you abuse history, facts, and whatever you deem necessary to make your 'point.' Basically, you'll be waiting forever to get answers because you don't listen when they're provided.

I agree with LegendKiller, thank god Ron Paul won't be elected and it clearly isn't worth trying to debate some of his supporters because it isn't a debate at all - it's like talking to a brick wall.

 

[LegendKiller]

Originally posted by: Mavtek3100


Yes and you also go on with your indoctrinated, status quo, never looking outside the box, never attempting or realizing true potential because you refuse to believe that authority or what works now, could be wrong or less effective. Yes and I'll continue to fight to not be marginalized as I will always be looking to new or "crazy" ideas to help improve my life and the lives of my fellow man.

I have a question for you LK, what's your average rate of return on your status quo investment portfolio?

Ahhh yes, because I don't accept bullshit theories, loosely connected anecdotes, revisionist and twisted history, or conspiracy, I am "status quo". Please sparky, I am ending this now, because anybody with half a brain knows I am right. Too bad your quarter brain can't understand that.

My average rate of return? 22.3%.

There's a reason why I went through 5 years of finance education with an MBA and achieving my CFA charter.

 

[Brainonska511]

Originally posted by: Mavtek3100
Ok Brain, well I never got an explanation as to why Ron Paul's idea on monetary policy is incorrect or loony. That's ok, LK is in finance, but that doesn't make him right on monetary policy or give him the ability to explain why Ron Paul, Rothbard, or Mises were incorrect regarding competing currency or abolishment of the Federal Reserve.

I'm not saying that he was right. I just said I agree with what he is saying and the methodology that he used to argue his point (which was much better than your method, if you can even call it that through most of that thread). You didn't seem to show any valid reasons why RP's ideas were good.

And maybe you should try reading some real stuff in capitalism, like Adam Smith. Some things the government does well, some things private industry does well. The government does a good job with the creation of money for the private industry to run on. Private industry and competition are not good for the country when it comes to currency.

I don't want to quote the whole passage, but in Chapter 3, Part I of Volume I of the Wealth of Nations, Smith states that competing currencies drove down the value of government issued coinage so much in Amsterdam in the early 1600s that merchants were having a hard time finding enough good money to pay their debts with.

 

[Mavtek3100]

LK my rate of return is around 18% not bad for a guy with no finance background huh? 22.3% that's pretty good, but I don't make 18% on the stock market, I make it with an "outside the box" investment outlet called prosper.com. I must admit I'm a much better judge of people than I am of stocks. I bet you think prosper.com is absolutely fucking loony huh?

 

[LegendKiller]

Originally posted by: Mavtek3100
LK my rate of return is around 18% not bad for a guy with no finance background huh? 22.3% that's pretty good, but I don't make 18% on the stock market, I make it with an "outside the box" investment outlet called prosper.com. I must admit I'm a much better judge of people than I am of stocks. I bet you think prosper.com is absolutely fucking loony huh?

18% through prosper? What's your time horizon and number of obligors? Some make that much money, but not many. I doubt you're that high.

I never said prosper was crazy, too bad you'd think that, since I think it's a great idea. Loans aren't that "out of the box" either. It's actually a pretty run of the mill thing.

RP isn't "out of the box", since that would imply it might be good for him to be President, he's fricking crazy and some of his ideas are stupid.

 

[Mavtek3100]

LK you might be right the Gold standard isn't exactly out of the box huh? It's an old idea and the Republicans were the ones who ardently fought to keep it for so long. So maybe he's just old school.

Well I guess you can doubt me if you like but according to Prosper that is indeed my rate of return, all prosper loans are a term of 3 years, the great news is that's my return even with a few defaults. I have 74 loans out right now, an average rate around $85 per loan.

 

[LegendKiller]

Originally posted by: Mavtek3100
LK you might be right the Gold standard isn't exactly out of the box huh? It's an old idea and the Republicans were the ones who ardently fought to keep it for so long. So maybe he's just old school.

Well I guess you can doubt me if you like but according to Prosper that is indeed my rate of return, all prosper loans are a term of 3 years, the great news is that's my return even with a few defaults. I have 74 loans out right now, an average rate around $85 per loan.

If you can manage it properly, great for you. Being in portfolio financing it's all about picking the right credits and using portfolio theory to win through.

 

[Mavtek3100]

I must admit, at 1st it was difficult to manage at prosper, but with their new tools and auto loan functions it's greatly improved. It's actually kinda cool, because it seems I'm helping others while helping myself.

 

[LegendKiller]

Originally posted by: Mavtek3100
I must admit, at 1st it was difficult to manage at prosper, but with their new tools and auto loan functions it's greatly improved. It's actually kinda cool, because it seems I'm helping others while helping myself.

By investing in anything you're always helping others, but I would agree that that's a more personal experience. There's certainly a difference between helping individuals rather than a faceless corporation which benefits thousands of individuals.

 

[Mavtek3100]

Actually I sometimes wonder if investing in corps always helps the many or the few. I hold the belief that mostly corporations provide jobs and inject income and product into the market. Sometimes though when you hear about large manufacturers taking advantage of child labor, and or sweat shops to bring us ever cheaper goods is that corp really helping? Who knows..... I guess even those who work in sweat shops feel they are better than not working at all, I just hope it's not some form of indentured servitude like I've heard of for illegal immigrants who were smuggled into the country. Who knows...