Why Its Pointless To Argue With Global Warming Believers 2047
snip I have no idea if that's true, but even if it is, it's irrelevant. Maybe farming was a really...
Holy poo, could you try to be just a little coherent?
You said that it was impossible for *gold-backed* currency to be lent at interest without someone going into debt somewhere. I pointed out this was nonsense, and your response is to talk about an entirely different currency system! It's impossible to have a discussion with someone who does this kind of thing.
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Well... no. In 1900 the price of gold was legally fixed at $20.67-oz. GDP-capita was $272, or 13.16 oz. of gold. Today, the market price of gold is around $550, and GDP-capita is $42000, or 77.66 oz. of gold. (This doesn't take into account tax rates, etc. but it's not like the numbers are close.)
Yes, but people are making a lot more USD. One USD is worth about 1-23 what it was in 1900... but GDP-capita, in non-adjusted dollars, is 154 times as high. If you do the math, you'll see that people have over seven times as much buying power as they did in 1900, based on the consumer price index.
-- "Those who enter the country illegally violate the law." -- George W. Bush in Tucson, Ariz., Nov. 28, 2005