SailorMom Posted July 15, 2011 Share Posted July 15, 2011 http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8638644/Return-of-the-Gold-Standard-as-world-order-unravels.html Don't know how many here are following all of this, but this is kinda ominous. This is the same pattern that you can see in the late Western Roman Empire - except that it is happening faster now. As the silver denarius was debased and inflation started becoming an issue, those who could started trading in the silver Roman currency (denarius) for either the Roman gold coins (aureus) or just gold in general. Not only are we debasing the dollar here in the US, the EU and China have all been doing the same. So - the implications could be worse - there were places on the outside of the Empire- even North Africa and the Eastern part of the Empire that were not as economically tied - that held up much better. But now- we're all so connected. Thoughts? Quote Link to comment Share on other sites More sharing options...
Mama Geek Posted July 15, 2011 Share Posted July 15, 2011 Yes, IMO things have looked bad for awhile and are only looking worse. Quote Link to comment Share on other sites More sharing options...
Amy in NH Posted July 15, 2011 Share Posted July 15, 2011 Space aliens for "barbarians"? Quote Link to comment Share on other sites More sharing options...
SailorMom Posted July 15, 2011 Author Share Posted July 15, 2011 Space aliens for "barbarians"? :lol::lol::lol: Who can play the Vikings? In all seriousness though - we are spendng an awful lot on conflicts.... Quote Link to comment Share on other sites More sharing options...
Amy in NH Posted July 15, 2011 Share Posted July 15, 2011 In all seriousness though - we are spendng an awful lot on conflicts.... Yes, we certainly are. That's no laughing matter. Quote Link to comment Share on other sites More sharing options...
usetoschool Posted July 15, 2011 Share Posted July 15, 2011 Reminds me of the "wheelbarrows full of paper money" stories that my highschool english lit. teacher used to tell us. He was an older man, a phd and had lived all over the world with his missionary parents and had seen some of that kind of inflation first hand. I have been beating the inflation band wagon with my kids and family for a few years now (long before the current president). Really, when a loaf of bread costs nearly $5 there is more than increased value/cost of production going on. It is frightening and frustrating. Just keep printing, just keep printing - what do we do? we print, print, print (money, that is). Quote Link to comment Share on other sites More sharing options...
asta Posted July 15, 2011 Share Posted July 15, 2011 Reminds me of the "wheelbarrows full of paper money" stories that my highschool english lit. teacher used to tell us. He was an older man, a phd and had lived all over the world with his missionary parents and had seen some of that kind of inflation first hand. I have been beating the inflation band wagon with my kids and family for a few years now (long before the current president). Really, when a loaf of bread costs nearly $5 there is more than increased value/cost of production going on. It is frightening and frustrating. Just keep printing, just keep printing - what do we do? we print, print, print (money, that is). That was the Weimar Republic. A wheelbarrow of paper money for a loaf of bread. a Quote Link to comment Share on other sites More sharing options...
tntgoodwin Posted July 15, 2011 Share Posted July 15, 2011 Ben Bernanke just told Congress that gold isn't money and central banks keep it because of "tradition." :001_rolleyes: Quote Link to comment Share on other sites More sharing options...
Storm Bay Posted July 15, 2011 Share Posted July 15, 2011 Ben Bernanke just told Congress that gold isn't money and central banks keep it because of "tradition." :001_rolleyes: Gold hasn't been the standard for money in the US for a long time. Quote Link to comment Share on other sites More sharing options...
Trish Posted July 16, 2011 Share Posted July 16, 2011 Shhh...no one's supposed to know how bad things are getting! Quote Link to comment Share on other sites More sharing options...
tntgoodwin Posted July 16, 2011 Share Posted July 16, 2011 (edited) Gold hasn't been the standard for money in the US for a long time. Since 1971 when Nixon ended Bretton Woods. ;) Ugh, fiat currency. Edited July 16, 2011 by tntgoodwin Quote Link to comment Share on other sites More sharing options...
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