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Comment Re:How secure (Score 1) 491

What people also don't realize, is that the gold standard doesn't limit money supply. Gold just becomes the measuring stick against which all other resources (typically natural) become valued against. 1 kilo gold = 10 kilo silver for equal value. The money supply is only limited by the amount of resources a government with holds to back the value of the currency and the redemption rate of the currency. This holds inflation and deflation in check, protecting the masses from having their savings eroded in value if held in currency. In the end all currency is just a method for aquiring resources, whether it is gold, a couch, or an ipod. The total money supply is just a representation of all resources natural, and manufactured produced to be consumed. A fiat currency's value always comes down to the number of bills in circulation compared to the country of origins wealth in resources anyways. All the people printing the money are buying STUFF with it before its value goes down some more. They print it to buy goods and services. Only stupid people want money for the sake of money. Smart rich people make their money work, they don't save money. Their savings are in lucrative assets and commodities. The problem with fiat currencies is that they make the lower classes feel richer, because 100,000 dollars is always going to sound better then 10,000. But when you could buy a house for 10,000 90 years ago, and now the same house costs 300,000 we have not gotten wealthier. Only our standard of living indicates a true measure of economic growth and personal wealth. I personally earn more money now than ever, but I am starting to see my standard of living decline.
Idle

Teacher Accused of Wizardry 10

Jim Piculas, a substitute teacher in Florida, recently lost his job. The reason he was fired is magically ridiculous. Among other issues he has been accused of Wizardry. That's right, Wizardry. Jim does a 30-second magic trick where a toothpick disappears then reappears. The trick is so good that it has propelled his community 200 years in the past.

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