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View Full Version : U.S. Issues Glenn Beck and the Incovenient Debt


rrl308
04-01-2009, 02:02 AM
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Dave Lane
04-01-2009, 02:37 PM
Beck in addition to being a complete tool, has his facts completely wrong. US went off the gold standard with the rest of the world in 1932. Not one country in the world today uses a gold standard and fiat currency is a way of life. And a much better one than 1920 or any time before that.

jiveturkey
04-01-2009, 03:30 PM
Does he cry in this one?

Saul Good
04-01-2009, 06:13 PM
Beck in addition to being a complete tool, has his facts completely wrong. US went off the gold standard with the rest of the world in 1932. Not one country in the world today uses a gold standard and fiat currency is a way of life. And a much better one than 1920 or any time before that.

Is the graph wrong?

Simplex3
04-01-2009, 06:21 PM
Is the graph wrong?

Er...umm...


BUSH SUCKS!!!

Saul Good
04-01-2009, 06:23 PM
Er...umm...


BUSH SUCKS!!!

Halliburton! Diebold! Neocons!

SBK
04-01-2009, 06:24 PM
Atheists are teh smart, religious morons are teh dum.

Direckshun
04-01-2009, 07:00 PM
Stephen Colbert and Glenn Beck

<table style='font:11px arial; color:#333; background-color:#f5f5f5' cellpadding='0' cellspacing='0' width='360' height='353'><tbody><tr style='background-color:#e5e5e5' valign='middle'><td style='padding:2px;'><a target='_blank' style='color:#333; text-decoration:none;' href='http://www.colbertnation.com/'>The Colbert Report</a></td><td style='padding:2px; text-align:right'>Mon - Thurs 11:30pm / 10:30c</td></tr><tr style='height:14px;' valign='middle'><td style='padding:2px;' colspan='2'><a target='_blank' style='color:#333; text-decoration:none;' href='http://www.colbertnation.com/the-colbert-report-videos/223279/march-31-2009/the-10-31-project'>The 10/31 Project</a></td></tr><tr style='height:14px; background-color:#353535' valign='middle'><td colspan='2' style='padding:2px; width:360px; overflow:hidden; text-align:right'><a target='_blank' style='color:#96deff; text-decoration:none' href='http://www.comedycentral.com'>comedycentral.com</a></td></tr><tr valign='middle'><td style='padding:0px;' colspan='2'><embed src='http://media.mtvnservices.com/mgid:cms:item:comedycentral.com:223279' width='360' height='301' type='application/x-shockwave-flash' wmode='window' allowFullscreen='true' flashvars='autoPlay=false' allowscriptaccess='always' allownetworking='all' bgcolor='#000000'></embed></td></tr><tr style='height:18px;' valign='middle'><td style='padding:0px;' colspan='2'><table style='margin:0px; text-align:center' cellpadding='0' cellspacing='0' width='100%' height='100%'><tr valign='middle'><td style='padding:3px;'><a target='_blank' style='font:10px arial; color:#333; text-decoration:none;' href='http://www.comedycentral.com/colbertreport/full-episodes'>Colbert Report Full Episodes</a></td><td style='padding:3px;'><a target='_blank' style='font:10px arial; color:#333; text-decoration:none;' href='http://www.indecisionforever.com'>Political Humor</a></td><td style='padding:3px;'><a target='_blank' style='font:10px arial; color:#333; text-decoration:none;' href='http://ccinsider.comedycentral.com/2009/03/23/breaking-colbert-wins-nasas-node-3-naming-contest/'>NASA Name Contest</a></td></tr></table></td></tr></tbody></table>

banyon
04-01-2009, 07:21 PM
Beck in addition to being a complete tool, has his facts completely wrong. US went off the gold standard with the rest of the world in 1932. Not one country in the world today uses a gold standard and fiat currency is a way of life. And a much better one than 1920 or any time before that.

Nixon took us off the gold standard in 1971.

banyon
04-01-2009, 07:23 PM
Is the graph wrong?

It's pretty distorted from most normal ways of looking at the debt history.

It appears to be in nominal and not real dollars, or as a pct of output, and so greatly exaggerates many of the phenomena.

Does that mean I'm not concerned about the size of the unneeded bailouts? No, I will be seeking inflation hedges with and disposable income I have ASAP, though it will be great for my student loans.

VAChief
04-01-2009, 07:25 PM
Stephen Colbert and Glenn Beck

<table style='font:11px arial; color:#333; background-color:#f5f5f5' cellpadding='0' cellspacing='0' width='360' height='353'><tbody><tr style='background-color:#e5e5e5' valign='middle'><td style='padding:2px;'><a target='_blank' style='color:#333; text-decoration:none;' href='http://www.colbertnation.com/'>The Colbert Report</a></td><td style='padding:2px; text-align:right'>Mon - Thurs 11:30pm / 10:30c</td></tr><tr style='height:14px;' valign='middle'><td style='padding:2px;' colspan='2'><a target='_blank' style='color:#333; text-decoration:none;' href='http://www.colbertnation.com/the-colbert-report-videos/223279/march-31-2009/the-10-31-project'>The 10/31 Project</a></td></tr><tr style='height:14px; background-color:#353535' valign='middle'><td colspan='2' style='padding:2px; width:360px; overflow:hidden; text-align:right'><a target='_blank' style='color:#96deff; text-decoration:none' href='http://www.comedycentral.com'>comedycentral.com</a></td></tr><tr valign='middle'><td style='padding:0px;' colspan='2'><embed src='http://media.mtvnservices.com/mgid:cms:item:comedycentral.com:223279' width='360' height='301' type='application/x-shockwave-flash' wmode='window' allowFullscreen='true' flashvars='autoPlay=false' allowscriptaccess='always' allownetworking='all' bgcolor='#000000'></embed></td></tr><tr style='height:18px;' valign='middle'><td style='padding:0px;' colspan='2'><table style='margin:0px; text-align:center' cellpadding='0' cellspacing='0' width='100%' height='100%'><tr valign='middle'><td style='padding:3px;'><a target='_blank' style='font:10px arial; color:#333; text-decoration:none;' href='http://www.comedycentral.com/colbertreport/full-episodes'>Colbert Report Full Episodes</a></td><td style='padding:3px;'><a target='_blank' style='font:10px arial; color:#333; text-decoration:none;' href='http://www.indecisionforever.com'>Political Humor</a></td><td style='padding:3px;'><a target='_blank' style='font:10px arial; color:#333; text-decoration:none;' href='http://ccinsider.comedycentral.com/2009/03/23/breaking-colbert-wins-nasas-node-3-naming-contest/'>NASA Name Contest</a></td></tr></table></td></tr></tbody></table>

ROFL

Saul Good
04-01-2009, 07:27 PM
It's pretty distorted from most normal ways of looking at the debt history.

It appears to be in nominal and not real dollars, or as a pct of output, and so greatly exaggerates many of the phenomena.

Does that mean I'm not concerned about the size of the unneeded bailouts? No, I will be seeking inflation hedges with and disposable income I have ASAP, though it will be great for my student loans.

My question was just pointing out yet another example of attacking the messenger rather than addressing the message.

Instead of saying why the graph was correct or incorrect, he tried to score points by saying that Beck was an idiot and didn't have his facts right. It was amusing to me that Dave knows nothing about the gold standard and stepped on his own dick when trying to say that Beck was wrong even though it had nothing to do with the point of the segment.

petegz28
04-01-2009, 07:31 PM
Beck in addition to being a complete tool, has his facts completely wrong. US went off the gold standard with the rest of the world in 1932. Not one country in the world today uses a gold standard and fiat currency is a way of life. And a much better one than 1920 or any time before that.

Actually I believe it was Nixon who took us off the Gold Standard.

petegz28
04-01-2009, 07:32 PM
Nixon took us off the gold standard in 1971.

This.

Dave Lane
04-01-2009, 07:32 PM
Nixon took us off the gold standard in 1971.

No he allowed America to own gold bullion again. There was nothing other than talk of being on the gold standard. US currency was not redeemable for gold and only printed in the amount of gold we held which is the true definition of a gold standard

banyon
04-01-2009, 08:23 PM
No he allowed America to own gold bullion again. There was nothing other than talk of being on the gold standard. US currency was not redeemable for gold and only printed in the amount of gold we held which is the true definition of a gold standard

This is probably what we are disagreeing on:

Differing definitions of gold standard
A 100% reserve gold standard, or a full gold standard exists when the monetary authority holds sufficient gold to convert all circulating money into gold at the promised exchange rate. It is sometimes referred to as the Gold Specie Standard to more easily identify it from other forms of the gold standard that have existed at various times. A 100% reserve standard is generally considered[who?] difficult to implement as the quantity of gold in the world is too small to sustain current worldwide economic activity at current gold prices. Its implementation would entail a many-fold increase in the price of gold. Furthermore, the "necessary" quantity of money (i.e. one that avoids either inflation or deflation) is not a fixed quantity, but varies continuously with the level of commercial activity.[citation needed] The currencies or banknotes that were backed by the Gold standard were the old German Reichsmarks, Yugoslav dinars, Turkish liras, Brazilian cruzeiros, Croatian dinars, Polish złoty, Argentine peso leys, Angola Kwanzas reajastodos, Zairean zaires and Bolivian bolivianos.[citation needed]

In an international gold-standard system, which may exist in the absence of any internal gold standard, gold or a currency that is convertible into gold at a fixed price is used as a means of making international payments. Under such a system, when exchange rates rise above or fall below the fixed mint rate by more than the cost of shipping gold from one country to another, large inflows or outflows occur until the rates return to the official level. International gold standards often limit which entities have the right to redeem currency for gold. Under the Bretton Woods system, these were called "SDRs" for Special Drawing Rights.[citation needed

http://en.wikipedia.org/wiki/Gold_standard#Differing_definitions_of_gold_standard

But, no people were free to own Bullion after the FDR rule was repealed in 1974, but that's a different event than the one pete and I were referring to which is about the value of the dollar, which I think is the more "standard" meaining of the gold standard (forgive the pun).

Taco John
04-01-2009, 11:07 PM
Beck in addition to being a complete tool, has his facts completely wrong. US went off the gold standard with the rest of the world in 1932. Not one country in the world today uses a gold standard and fiat currency is a way of life. And a much better one than 1920 or any time before that.


You're wrong.

We effectively went off the Gold Standard in 1971 (http://en.wikipedia.org/wiki/Nixon_Shock).


(see also Death of Money (http://en.wikipedia.org/wiki/Death_of_money))

Ultra Peanut
04-01-2009, 11:20 PM
GLENN BECKKK

SBK
04-02-2009, 12:11 AM
GLENN BECKKK

That's an excellent argument you present, I think you'll change the hearts and minds of the people here.

Thig Lyfe
04-02-2009, 12:30 AM
People actually listen to Glenn Beck?

:shake:

KILLER_CLOWN
04-02-2009, 12:47 AM
I like how Beck takes 1 side then the exact opposite the next show or sometimes the next segment. Paid Propagandist, eos.

Jenson71
04-02-2009, 12:58 AM
I like how Beck takes 1 side then the exact opposite the next show or sometimes the next segment. Paid Propagandist, eos.

I recall Taco John mentioning Beck having Paul on his show and speaking highly of him and the next show calling his supporters domestic terrorists.

I don't think any of the 24 hour news channels are worth a damn, and our country really depends on having solid analysis of news. You can't find it on CNN, FoxNews, MSNBC. Beck is really the epitome of what a joke it all really is.

But apparently he's really popular. At least he does well in the ratings.

Ultra Peanut
04-02-2009, 01:02 AM
That's an excellent argument you present, I think you'll change the hearts and minds of the people here.Booyaka, booyaka! 912!
Booyaka, booyaka! That's my pueblo.

El Jefe
04-02-2009, 01:21 PM
People actually listen to Glenn Beck?

:shake:

You're still drinking the Kool-Aid I see.

Stewie
04-02-2009, 03:38 PM
FDR confiscated gold in 1933 and immediately debased the dollar by raising the price of 1 oz. of gold from 20.67 to $35. Why not? They had the gold. The dollar was still backed by gold, but since it was illegal to own gold a dollar was not redeemable for gold as it had been.

Nixon completely removed gold backing from the dollar and we started the greatness of a fiat currency. This method of monetary policy has failed every time throughout history. The politically easy thing to do is print money until it becomes worthless and then the masses revolt. (See $12.8 trillion in obligations that have recently been approved by the printers of money.)

IMO they're debasing the dollar just like FDR but in a more sinister way. Instead of a bullet to the head it's a slow bleed.