Why Its Pointless To Argue With Global Warming Believers 2043
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From someone else. You're basically trying to say it's impossible to lend money at interest with gold-backed currency, but this is *obvious* nonsense. Hell, all that money loaned out in margin accounts leading up to the Great Depression was backed by gold. And the national debt as a percentage of GDP was higher in 1950, with gold-backed currency, than it is today.
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Look, you're arguing irrelevant points. I didn't say anything about whether the oil supply will become more constrained or demand would rise (though these seem like reasonably buttumptions). I merely said that the price of oil is climbing largely because commodities traders believe this will be the case. In other words, it's not climbing because the dollar isn't backed by gold.
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Ahh, yes. Saudi Arabia is such a powerful engine of economic expansion.
ZnU Only because of the Federal Reserve Act that you can loan money and try to back it up with gold. It isn't nonsense, just a scam. The fact is, to pay...
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-- "Those who enter the country illegally violate the law." -- George W. Bush in Tucson, Ariz., Nov. 28, 2005