Comments on: Newstopia explains the Reserve Bank http://www.agentansley.com/banking/newstopia-explains-the-reserve-bank/ Mon, 28 Jun 2010 06:14:01 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: AaronGNielsen http://www.agentansley.com/banking/newstopia-explains-the-reserve-bank/comment-page-1/#comment-3536 AaronGNielsen Mon, 24 May 2010 12:33:40 +0000 #comment-3536 @Mccnuget Gold has physical properties that make it useful as a basis of currency (rarity, purity, uniqueness...), and we've known about them for 8,000 years. It's also easier to understand than fiat money (though both are easy): gold is an asset, fiat money is a debt. Also, private banks have more control over currency than governments (because they create more money via compound interest). Perceived value is conditional, but stability is not. Neither is inflation, for that matter. @Mccnuget Gold has physical properties that make it useful as a basis of currency (rarity, purity, uniqueness…), and we’ve known about them for 8,000 years. It’s also easier to understand than fiat money (though both are easy): gold is an asset, fiat money is a debt. Also, private banks have more control over currency than governments (because they create more money via compound interest).

Perceived value is conditional, but stability is not. Neither is inflation, for that matter.

]]> By: Mccnuget http://www.agentansley.com/banking/newstopia-explains-the-reserve-bank/comment-page-1/#comment-3537 Mccnuget Fri, 21 May 2010 16:28:28 +0000 #comment-3537 No it isn't. Thats the premises for all currency, instrinsically. The value of gold is no more tangible than the value of foreign currency. Its just more complicated so people have trouble understanding it. At the end of the day, the only difference is that the government can more easily control the value under a fiat currency. Percieved value is still conditional, more so if its a commodity currency. I think Shaun was only making the remark because most think Gold is still a crucial part. No it isn’t. Thats the premises for all currency, instrinsically. The value of gold is no more tangible than the value of foreign currency. Its just more complicated so people have trouble understanding it.
At the end of the day, the only difference is that the government can more easily control the value under a fiat currency. Percieved value is still conditional, more so if its a commodity currency. I think Shaun was only making the remark because most think Gold is still a crucial part.

]]> By: AaronGNielsen http://www.agentansley.com/banking/newstopia-explains-the-reserve-bank/comment-page-1/#comment-3538 AaronGNielsen Fri, 21 May 2010 09:40:48 +0000 #comment-3538 @Mccnuget The intangibility (or "fiat") of modern currency isn't a joke. I agree that the point about the free market not applying to some people and being subject to their interference is a good one. Nevertheless, the point made at the end that no fiat currency is really worth anything, or at least has no way of holding its value over time, is at least as important. @Mccnuget The intangibility (or “fiat”) of modern currency isn’t a joke. I agree that the point about the free market not applying to some people and being subject to their interference is a good one. Nevertheless, the point made at the end that no fiat currency is really worth anything, or at least has no way of holding its value over time, is at least as important.

]]> By: Mccnuget http://www.agentansley.com/banking/newstopia-explains-the-reserve-bank/comment-page-1/#comment-3539 Mccnuget Fri, 21 May 2010 05:21:09 +0000 #comment-3539 @AaronGNielsen Yes i agree about comedy central. But I think your taking what Shaun said too literally. He was making a joke about the intangibility of modern currency. The only real point he made, apart from pointing out what most people already know about economics, is that we don't have a free market, not really. And yet everyone keeps weeping about capitalism. When the under-achievers allow for actual laissez faire without socialist welfare systems, then we can blame the free-market. @AaronGNielsen
Yes i agree about comedy central. But I think your taking what Shaun said too literally. He was making a joke about the intangibility of modern currency. The only real point he made, apart from pointing out what most people already know about economics, is that we don’t have a free market, not really.
And yet everyone keeps weeping about capitalism. When the under-achievers allow for actual laissez faire without socialist welfare systems, then we can blame the free-market.

]]> By: kennymelodica http://www.agentansley.com/banking/newstopia-explains-the-reserve-bank/comment-page-1/#comment-3540 kennymelodica Tue, 04 May 2010 20:53:26 +0000 #comment-3540 ahh!! Excellent :D ahh!! Excellent :D

]]> By: Fryman1982 http://www.agentansley.com/banking/newstopia-explains-the-reserve-bank/comment-page-1/#comment-3541 Fryman1982 Tue, 20 Apr 2010 13:58:13 +0000 #comment-3541 two legendary funny fellows! old odd humour .. love it or hate it two legendary funny fellows! old odd humour .. love it or hate it

]]> By: varietygarage http://www.agentansley.com/banking/newstopia-explains-the-reserve-bank/comment-page-1/#comment-3542 varietygarage Thu, 08 Apr 2010 04:46:15 +0000 #comment-3542 Funny stuff. Micallef is a genius! You should check out my youtube channel "Variety Garage". We're just starting out, but hopefully we can even approach the funnyness of this video. Funny stuff. Micallef is a genius!

You should check out my youtube channel “Variety Garage”. We’re just starting out, but hopefully we can even approach the funnyness of this video.

]]> By: artyfarty3 http://www.agentansley.com/banking/newstopia-explains-the-reserve-bank/comment-page-1/#comment-3543 artyfarty3 Tue, 02 Feb 2010 09:09:26 +0000 #comment-3543 ; ) i saw this sketch on TV over 2 years ago and just like fine wine - it just gets better with time :) love it ;D ; ) i saw this sketch on TV over 2 years ago and just like fine wine – it just gets better with time :) love it ;D

]]> By: Gannondalf http://www.agentansley.com/banking/newstopia-explains-the-reserve-bank/comment-page-1/#comment-3544 Gannondalf Thu, 28 Jan 2010 14:06:44 +0000 #comment-3544 newstopia is the best newstopia is the best

]]> By: calumcoburn http://www.agentansley.com/banking/newstopia-explains-the-reserve-bank/comment-page-1/#comment-3545 calumcoburn Tue, 29 Dec 2009 12:07:51 +0000 #comment-3545 Excellent! Excellent!

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