Ron Paul's Farewell Speech to Congress: The End of a Cult Figure

[rvg]

I just had a glance at some of his positions an I gotta say that he his way off the edge with this gold thing.

Gold has no value and neither does money they merely have value because everyone agrees they have value.

i.e. gold has value.

[gaelic cowboy]

i.e. gold has value.

as long as we agree.


Fiat currency requires no benchmark and any system that does has been proven to be a disaster, just look at the Euro it clearly has a similar hallmark to the gold standard and it is causing havoc in Europe.


plus there isnt actually enough gold in the world to back currencies so this only helps rich people and hoarders of gold.

[rvg]

as long as we agree.

And we do. While gold imho isn't the best way of gauging value (energy imho is the way to go), it's nonetheless a tried and true way that has worked for millenia.

[gaelic cowboy]

And we do. While gold imho isn't the best way of gauging value (energy imho is the way to go), it's nonetheless a tried and true way that has worked for millenia.

But sure energy can also have different values depending on the source

[rvg]

But sure energy can also have different values depending on the source

Not really. A Joule is a Joule no matter where it comes from.

[Sir Moody]

Not really. A Joule is a Joule no matter where it comes from.

that's the unit of measurement not the value - value would be Joule per <insert Currency here>

[gaelic cowboy]

Not really. A Joule is a Joule no matter where it comes from.

So your talking about work then. How do you get around the problem of trying to SET the monetary value of a joule.

[rvg]

So your talking about work then. How do you get around the problem of trying to SET the monetary value of a joule.

You don't. You set the values of OTHER things in Joules.

[Papewaio]

Not really. A Joule is a Joule no matter where it comes from.

But to get it or store it may take different amounts of effort ie fat is a useful form of energy as it is accessible, dense and minimal problems to convert in the human body compared with protein.

Same applies to energy in the economy. Wind is accessible when it blows, need some sort of storage to make it more useful. Sure a joule is a joule, but it doesn't mean there isn't a cost to create, transport or store that energy.

[HoreTore]

i.e. gold has value.

Neither money nor gold has any value.

Labour, on the other hand, does have value. When people like Ron Paul doesn't understand the very basics of economy, it's unavoidable that the policies they propose are a little on the loonier side of things.

[Philippus Flavius Homovallumus]

Neither money nor gold has any value.

Labour, on the other hand, does have value. When people like Ron Paul doesn't understand the very basics of economy, it's unavoidable that the policies they propose are a little on the loonier side of things.

Labour has no value unless you want to do something you can't do yourself.

All things are contingent.

[HoreTore]

Labour has no value unless you want to do something you can't do yourself.

All things are contingent.

Money is a storage for that labour, so you can conveniently trade one labour you have to one labour you want.

The reason you want money is because of the labour you can trade it into, not because of some inherent value of money itself.

[Philippus Flavius Homovallumus]

Money is a storage for that labour, so you can conveniently trade one labour you have to one labour you want.

The reason you want money is because of the labour you can trade it into, not because of some inherent value of money itself.

Nah - I want a sword and a longship so I can take stuff from people weaker than myself.

What's all this "Labour" rubbish?

Go down to the shore and get some more Irish thrawls, find a pretty one and she might even cheer you up.

[Tellos Athenaios]

Libertarians might be well meaning, but their words are as credible as those who insist all computer programs should run in real mode, and we should do away with this bloat called an OS.

In other words: utter bunk.

Let's hope any replacements have a more practical and realistic worldview.

[Fragony]

Libertarians might be well meaning, but their words are as credible as those who insist all computer programs should run in real mode, and we should do away with this bloat called an OS.

In other words: utter bunk.

Let's hope any replacements have a more practical and realistic worldview.

Never beyond impossible but always a direction to having the goverment eliminated. But that is just a goal, a take on things.

[HoreTore]

Nah - I want a sword and a longship so I can take stuff from people weaker than myself.

What's all this "Labour" rubbish?

Go down to the shore and get some more Irish thrawls, find a pretty one and she might even cheer you up.

And that, of course, creates no wealth in itself.

[Philippus Flavius Homovallumus]

And that, of course, creates no wealth in itself.

You can't create wealth, just amass it - that's true of individuals and nations.

"Wealth Creation" is what we call extracting wealth from other countries - it's all about Viking in the end.