Quadaffi Killed Trying to Establish an African Currency?

a reply to: ScepticScot

Please explain.

a reply to: VictorVonDoom

Price fixing doesn't work.

Doesn't matter if it's gold or bread it still doesn't work.

Gold standard is in essence a form of price fixing.

originally posted by: VictorVonDoom
Gold isn't measured in dollars, it's an element so it's measured in units of mass. Mass doesn't change, the value of fiat currency does.

What's to stop a country from saying that its base unit of currency can be exchanged for a fixed amount of gold based on their reserves?

The world market dictates the price of gold, try setting a gold-backed currency either below or above that price and see what happens to your currency's value.

originally posted by: ScepticScot
a reply to: VictorVonDoom

Price fixing doesn't work.

Doesn't matter if it's gold or bread it still doesn't work.

Gold standard is in essence a form of price fixing.

It's not price fixing, it's currency fixing. Basing your currency on a commodity has worked for centuries. Fiat currencies have always historically been devalued.

originally posted by: AugustusMasonicus

originally posted by: VictorVonDoom
Gold isn't measured in dollars, it's an element so it's measured in units of mass. Mass doesn't change, the value of fiat currency does.

What's to stop a country from saying that its base unit of currency can be exchanged for a fixed amount of gold based on their reserves?

The world market dictates the price of gold, try setting a gold-backed currency either below or above that price and see what happens to your currency's value.

The world market sets the exchange rate for fiat currencies vs. gold. The value (price) of gold is set just like everything else: supply and demand. If you were to define the value of your currency as, say, one hundredth of a gram equals one dollar, then it doesn't matter how fiat currency exchange rates for gold fluctuate. The only things that would affect the value of your currency would be a change in supply (a large find) or a change in demand (a new use for gold or a replacement for gold in current applications).

originally posted by: VictorVonDoom
The world market sets the exchange rate for fiat currencies vs. gold.

The world market sets the price of gold for ALL uses, not just currency.

The value (price) of gold is set just like everything else: supply and demand.

And if some dip**** creates a currency that undervalues the price of gold it will be bought up and converted to gold, if they set it too high the currency will languish. That is supply and demand.

a reply to: AugustusMasonicus
China does not allow gold to leave its shores. All gold produced is brought back to them by law. What if we did the same thing? Legislate that when traveling outside the US, one can only leave the borders with notes, with the exception of a to be determined amount of weight in jewelry. Lets say one pound. And all US companies that produce gold must import it back to the mainland.

Lets take China's plan to screw us, and screw them right back with it.

originally posted by: VictorVonDoom

originally posted by: ScepticScot
a reply to: VictorVonDoom

Price fixing doesn't work.

Doesn't matter if it's gold or bread it still doesn't work.

Gold standard is in essence a form of price fixing.

It's not price fixing, it's currency fixing. Basing your currency on a commodity has worked for centuries. Fiat currencies have always historically been devalued.

And commodity back currencies have always failed. There is a reason no country uses the gold standard.

What do you think the difference is between x currency is worth y commodity and saying y commodity is worth x currency?

a reply to: ElGoobero

Anytime I read these sort of reports I always get this strange tickle in the back of my throat that leads me to think that the darkest power figures in the world seems to stem from the US. I'm not saying it's just them but most conspiracies or major events seems to have strings that run to or near American power figures. I'm probably alone in that line of thinking right? I mean I'm asking seriously is America a threat to the world? Most regime changes have eventually seen to have connections to the US so come on my fellow paranoid conspiratorially minded friends Can American, the country that has been around for 200 years and believes in freedom etc. really be this dark force behind closed doors? (I'm asking a real question although it might be coming across as something else).

originally posted by: mekhanics
a reply to: ElGoobero

Ask TRUAMP.

This had nothing to do with Trump. Ask Hillary Clinton. By the way, he was terminated by sticking a K-bar up his ass. He did not go gently into that good night.

originally posted by: AugustusMasonicus

originally posted by: VictorVonDoom
The world market sets the exchange rate for fiat currencies vs. gold.

The world market sets the price of gold for ALL uses, not just currency.

The value (price) of gold is set just like everything else: supply and demand.

And if some dip**** creates a currency that undervalues the price of gold it will be bought up and converted to gold, if they set it too high the currency will languish. That is supply and demand.

The value of gold is determined by physical and chemical properties, which makes gold useful, and it's relative rarity, since it is only formed naturally in a supernova. Gold's resistance to corrosion, acids make it useful. Gold's ductility, malebility, radiation shielding properties, electrical conductivity, etc.; these are the things that give gold it's value.

No dip**** can create a currency and arbitrarily say that it's worth a certain quantity of gold without having the gold to back it up. Unless they are just perpetrating a fraud, of course. No fiat currency can add one atom of gold to the Earth's existing supply. And no fiat currency can replace gold in electronics or space travel. Fiat currencies do not affect the amount of gold on Earth or the demand for gold in certain applications.

originally posted by: ScepticScot

originally posted by: VictorVonDoom

originally posted by: ScepticScot
a reply to: VictorVonDoom

Price fixing doesn't work.

Doesn't matter if it's gold or bread it still doesn't work.

Gold standard is in essence a form of price fixing.

It's not price fixing, it's currency fixing. Basing your currency on a commodity has worked for centuries. Fiat currencies have always historically been devalued.

And commodity back currencies have always failed. There is a reason no country uses the gold standard.

What do you think the difference is between x currency is worth y commodity and saying y commodity is worth x currency?

I'm not aware of any commodity backed currency that has failed. If you know one, please post.

Usually what happens is a country depletes it's treasury waging war, which is why no country uses a gold standard today. Any country that tried to maintain a standing army today paying their soldiers in gold or silver would go bankrupt fast.

The difference between saying a unit of currency is worth a unit of a commodity versus saying a unit of a commodity is worth a unit of currency is what determines the value of the currency. Currently, the value of our currencies is determined by central banks that manipulate the supply of the currency, and then tax people to create a demand for that currency. Through a system of inflation and deflation the true wealth flows from the people to the banks. With a commodity based currency, the banks couldn't arbitrarily create or destroy currency to rob people of their wealth.

Here is a funny story about gold www.sgtreport.com...


11 Tons Of Gold Missing From Australia (Plus England Denies Australia Access To Its Gold)

originally posted by: Dwoodward85
a reply to: ElGoobero

Anytime I read these sort of reports I always get this strange tickle in the back of my throat that leads me to think that the darkest power figures in the world seems to stem from the US. I'm not saying it's just them but most conspiracies or major events seems to have strings that run to or near American power figures. I'm probably alone in that line of thinking right? I mean I'm asking seriously is America a threat to the world? Most regime changes have eventually seen to have connections to the US so come on my fellow paranoid conspiratorially minded friends Can American, the country that has been around for 200 years and believes in freedom etc. really be this dark force behind closed doors? (I'm asking a real question although it might be coming across as something else).

Personally, I wouldn't necessarily say that America is a threat to the world. However, I do believe that there efforts to maintain "stability" of the world economy is more of a war against development. Whenever somebody in a position of power gains the ability to turn the economic tides in their favour, such as in Africa or the middle east, they therefore have to sway that favour away from western powers, like the US or Britain. It makes sense that western powers want to protect their power and economy but it has the affect of keeping other countries in poverty and war.

That being said. Allowing ones society to effectively devolve in order to let the rest of the world to catch up is not in our nature. Humans strive to be the best and richest. Defending the existing power structure of the global socioeconomic scale only makes sense to prevent our western societies from slowly descending into chaos. Even if it means keeping the competition there instead.

It will be interesting to which country will try and stand up and challenge the power structure next! Also weather their leader will be pegged as a dangerous psychopath with WMD's.

All of them. The US dollar, Sterling take you pick. They have all had to come off the gold standard for the reason you give or economic downturn or just a persistent trade deficit.

Any country can say their currency is worth a certain amount of gold. Actually making it so is another matter all together.

The value of a currency isn't determined by central banks, although they can influence it. This is a good thing as economic conditions vary and having at least some control over the currency is far superior to having it determined by the value of a shiny metal.

originally posted by: VictorVonDoom

originally posted by: AugustusMasonicus

originally posted by: VictorVonDoom
The world market sets the exchange rate for fiat currencies vs. gold.

The world market sets the price of gold for ALL uses, not just currency.

The value (price) of gold is set just like everything else: supply and demand.

And if some dip**** creates a currency that undervalues the price of gold it will be bought up and converted to gold, if they set it too high the currency will languish. That is supply and demand.

The value of gold is determined by physical and chemical properties, which makes gold useful, and it's relative rarity, since it is only formed naturally in a supernova. Gold's resistance to corrosion, acids make it useful. Gold's ductility, malebility, radiation shielding properties, electrical conductivity, etc.; these are the things that give gold it's value.

No dip**** can create a currency and arbitrarily say that it's worth a certain quantity of gold without having the gold to back it up. Unless they are just perpetrating a fraud, of course. No fiat currency can add one atom of gold to the Earth's existing supply. And no fiat currency can replace gold in electronics or space travel. Fiat currencies do not affect the amount of gold on Earth or the demand for gold in certain applications.

It's value is determined by supply and demand.

What you describe are some of the factors,that make up that demand. Another one would be governments stockpiling gold for use as a currency, which would make gold more expensive and less available for actual economically productive uses.

originally posted by: worldstarcountry

China does not allow gold to leave its shores. All gold produced is brought back to them by law.

Is that so? How do all of those electronic components get out then?

originally posted by: VictorVonDoom
The value of gold is determined by physical and chemical properties, which makes gold useful, and it's relative rarity, since it is only formed naturally in a supernova. Gold's resistance to corrosion, acids make it useful. Gold's ductility, malebility, radiation shielding properties, electrical conductivity, etc.; these are the things that give gold it's value.

Yeah, okay, it's value is still determined by the world market. Try to sell your gold for $2,500 an ounce now and tell me what happens. Then try to sell it for $500 and report the same findings.

No dip**** can create a currency and arbitrarily say that it's worth a certain quantity of gold without having the gold to back it up.

And my point is there isn't enough gold to back any currency.

Fiat currencies do not affect the amount of gold on Earth or the demand for gold in certain applications.

A gold-backed currency is limited by the finite quantity of gold available. Once you've reached a certain point where the value of the gold backing the currency is worth more on the open market the currency becomes stagnant as it is converted to gold and then sold off in another currency.

a reply to: ElGoobero

He was considered the farther of Africa. Shame the west never saw him as so. When they illegally put a no fly over Libya bombed his home and filmed him getting raped to death up the #.

originally posted by: opethPA

originally posted by: Zcustosmorum
ISIS didn't exist when the West assassinated Gaddafi

Don't let facts get in the way of your narrative, ISIS formed is 1999 while Gaddafi died in 2011.

ISIS: en.wikipedia.org...
Gaddafi: en.wikipedia.org...

Originally they were Daesh and certainly not ISIS in 2001, according to the BBC it was only until 2014 before they became well known:

www.bbc.co.uk...

originally posted by: paraphi

originally posted by: Zcustosmorum
What an ignorant comment, how the hell do you know what the majority of Africa thought?

Try and keep it civil.

Gaddafi positioned himself as the "leader of Africa", and in so doing supported range of pro and anti-democratic causes. He was all for the United States of Africa - one military, one currency, one leader. That was the problem. He wanted to be leader. That's the fruitcakedness. All current African leaders - many democratically elected - cede their sovereignty to Gaddafi. Think it through.

That's a highly debatable and subjective opinion, and the West still had way more influence over elections in Africa than Gaddafi ever did