Quote from: gareth69 on May 27, 2011, 12:44:06 PM

Keynsian theory is founded on the idea of money as debt!...the exact opposite of what Web is saying.

Quote from: WebSurfinMurf

Currently, there is two views of money, Fiat and gold based.

For sake of argument, there is no difference between a US dollar and credit. Both represent the same thing, a debt owed for work done.

The problem with Gold is, it doesnt represent work done and a debt owed. It represents a physical material that it has value as a material.

The whole idea of gold as money outrages me that people cannot think of money in its purest form. It is suppose to be a guaranteed bond, akin to signing a contract, which work performed can be used to get work in return.

The problem comes in that individuals, companies, states, or governments would rather just make new money than create work to back the new debt created. This perversion of not having money represent work done and work owed is what we are witnessing by the actions of the Federal Reserve Bank. Ben Bernanke, in effect, is trying to show the world, that US does not have to honor repayment with new work, it can repay with sleight of hand and new paper IOU that will never get repaid with work.