Skip to main content

View Diary: Another war that we are losing (27 comments)

Comment Preferences

  •  I've been thinking lately ... (4+ / 0-)
    Recommended by:
    Chi, gjohnsit, Jim P, Lujane


    Currency need to be pegged to something valuable,
    other than the sizes of an Economy or the corrective actions of a Currency Czar.

    And since there is not enough gold anymore to be helpful,

    how about pegging the Dollar, the Euro, the Yuan, the Rupee, etc

    to the value of a bowl of rice, or a gallon of water, or a Jr Mc Whopper?


    And then set the standard for an hour's Unit of Labor, to a certain multiple of that

    -- say Five Burgers per hour,  in honor of Henry Ford.


    Somehow Currency has to be made "tangible" again.
    Though I have serious doubts, it will ever happen,
    given the short-term, high-frequency roads were on.

    •  Re (2+ / 0-)
      Recommended by:
      jamess, Lujane
      how about pegging the Dollar, the Euro, the Yuan, the Rupee, etc

      to the value of a bowl of rice, or a gallon of water, or a Jr Mc Whopper?

      You still have the same problem again.
      And then set the standard for an hour's Unit of Labor, to a certain multiple of that

      -- say Five Burgers per hour,  in honor of Henry Ford.

      What if there aren't five burgers available for an hour of work? Your system will be quickly destroyed by black markets and pricing problems.

      (-5.50,-6.67): Left Libertarian
      Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

      by Sparhawk on Sat Feb 09, 2013 at 11:51:56 AM PST

      [ Parent ]

      •  Worse. Hamburger helper. (2+ / 0-)
        Recommended by:
        Lujane, gjohnsit

        Sort of like the tungsten in gold-plated bars problem.


        We live in a nation where doctors destroy health; lawyers, justice; universities, knowledge; governments, freedom; the press, information; religion, morals; and our banks destroy the economy. -- Chris Hedges

        by Jim P on Sat Feb 09, 2013 at 06:28:50 PM PST

        [ Parent ]

    •  I agree (3+ / 0-)
      Recommended by:
      jamess, Lujane, daveygodigaditch

      There has to be some limit, even if that limit is very high.

      And yes, there is enough gold. If gold was at a much higher price, or if the currency was only partially backed (which was true for most of our history).
         Or if it was backed by a combination of gold and silver (which was true for part of our history).

        There are all sorts of things that can be done which would be better than now.

      ¡Cállate o despertarás la izquierda! - protest sign in Spain

      by gjohnsit on Sat Feb 09, 2013 at 12:52:10 PM PST

      [ Parent ]

    •  You need to read (3+ / 0-)
      Recommended by:
      gjohnsit, jamess, Lujane

      David Graeber's Debt: The First 5,000 Years.  It discusses the origins and weaknesses of several theories of money, in particular that of basing money on metals and/or commodities.  

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site