Random chat and debate thread.

[DezNutz]

ah inflation the bane of the world since the federal reserve started

That's rubbish, Beemer : inflation existed long before that : debasement of currency predates the foundation of the USA, never mind its federal banking system. google 'Old CopperNose', as Henry VIII was nicknamed for his coinage scams and which caused rampant inflation in Tudor England.

I agree mostly with Danik; however, prior to 1933 (20 years after the Fed. Reserver was founded) the USA used the gold standard. Paper and non-precious metal currency was backed by gold/silver, so inflation was limited to an extent. Gold backed currency would fluctuate in its value based on the gold reserver and currency in circulation. Inflation and Deflation occurred regularly and helped keep prices low. Most economists will tell you that deflation is bad; however, uncontrolled inflation is exponentially worse. With the end of the gold standard, the US Dollar's value increased dramatically via uncontrolled inflation and prices started to rise.

[Most Lee Harmless]

I wished to make the point that 'inflation' is not solely caused by a particular banking system : to say so is both lazy and inaccurate. Inflation has many causes, all of which can work in combination to exacerbate the problem in particular era. No banking system, or economic regime, is neutral or benign : we accept inflationary pressures when they benefit us, such as with house and land prices or to grow our pension pots down the line. We prefer a stable currency, with a known and assured value, so rather than have every man and his bank issue currency of varying or even dubious value, we have adopted more centralized currency control. That comes with a price, as does a federal or central banking system assuring us the bankers wont run off with our money overnight. Nobody likes paying for insurance (until their house burns down) thus the pressures to have no costly controls on economic activity : if you dont mind an Enron or three every decade or so, there's a price for that too.

[not a pirate]

Chinchin, don't try to get this thread locked. We will hijack any other thread as well, so let us use this useless one...

[Bmw]

it should be renamed random thread

[DezNutz]

it should be renamed random thread

Nope, the thread name is fine as it stands. Not everyone wants to read about Avery. If you call it random thread, more people that don't necessarily need to input their 2 cents will do just that.

[Bmw]

ok then

[M.s.nithish kumar]

see you soon

[DezNutz]

see you soon

Hello and Welcome to PG and the forums.

[Admiral Nelson]

And in typical BMW fashion... He bullshits some more, on his description he states

" My voodoo chest doubled a day after "

When actually, it only increased by 300 ; Making his voodoo chest 900! Be careful folks! He has 1 Mindbar, 1 Serenity and a lot of floods!

[OG Deadking]

wow u guys have a lot more voodoo plus random thread would be a pretty accurate name for this thread