are you referring to:
http://qbpartners.com/ ?

b/c these authors are not that firm..

I am sad to see tbp posting Austrian viewpoints from these clowns. There are much better pieces saying similar things but brevity and clarity, and the author of these pieces aren’t scamsters.

But that’s not the point, is it? The point of the Great Goldbug Fantasy is to engineer a transfer of wealth from cash-holders to goldbugs. You get the debt-deflation either way (if there is no debt-deflation, then all you’ve pulled off is an accounting trick that revalues nothing). But that’s not good enough, is it? Unless you get paid off for what you think the preciousss is “really” worth, you’re going to keep pissing and moaning about “fiat” money (as if there’s some other kind of money with Platonic existence, and not just a social convention).

and, rest assured, that ~90+% of what follows will be ‘on the Mark’..

IOW, not only does the Truth tell, it is telling, and it tells itself.

or, differently, to borrow a description of a different work: “A beam of enlightened thinking in a sea of delusional complacency”–N. Roubini about “Bailout Nation” by BR.

“Have you lost your minds!!! Why in the world would you advocate that the US treasury turn over it’s Gold deposits to the FED?”

– 5)The Fed would also purchase the “people’s gold” currently held by the Treasury Department at the $3,000/oz clearing auction price (Treasury is carrying gold on its books at $42.22/oz.)

How about this instead, we follow all of your advice down to the copper coated penny (that is probably now worth more than a penny) except that we print our own damn money (interest free) instead of the FED and have the Federal Government via the US Treasury (not some Private Agency) control the Gold Reserves.

Of course, now put yourself in the government’s shoes: If you can convince the masses to work their asses off for worthless monopoly money, why would you want to give them gold instead?

“Lower prices are a boon for workers, clearly enhance their pool of savings and promote further growth in that pool of savings. This pool of savings, in turn, primes the pump for further investment in productive capital. It’s a virtuous cycle when left alone.”

Except that lower prices go hand in hand with deflation. It’s almost impossible to counter deflation with a gold-based currency, which is why we use fiat currency in the first place. You seem like you know your econ, so I’m assuming you know why deflation is so bad.

“Lower prices are a boon for workers, clearly enhance their pool of savings and promote further growth in that pool of savings. This pool of savings, in turn, primes the pump for further investment in productive capital. It’s a virtuous cycle when left alone.”

Except that lower prices go hand in hand with deflation. It’s almost impossible to counter deflation with a gold-based currency, which is why we use fiat currency in the first place. You seem like you know your econ, so I’m assuming you know why deflation is so bad.

“In effect, the organic price deflation which would accrue to the consumer and frugal saver is stolen from them by the financial system.”

Yes, it is, and for good reason. If Scrooge McDuck puts all the world’s gold into his vault, and his gold is worth more and more every year due to deflation, what incentive does he have to spend any of it?

No, she didn’t. She got paid in Yuan by the company she works for.

“In other words, the Poly Pocket worker takes his dollar, converts it to Yuan and buys dinner. If the doll cost the American dad what he would have spent on dinner, then it was a fair and equitable trade.”

Yes and no, you’re ignoring purchasing power parity here. One dollar will buy a decent meal in China, but 1/3 of an “extra value meal” in the USA. The problem is that partially due to global exchange rate imbalances, the average Chinese hourly wage earner is willing to work for about 40 times less than his American counterpart. If the American has no comparative advantage over the Chinese, why would anyone ever hire the American?

“Price is meaningless. It is exchange ratios that matter in the real economy. But, therein lies the rub.”

If by exchange ratios you mean PPP, then yes.

“We think the record shows clearly that Wall Street is the means to fund far-reaching domestic and foreign policies, which requires the ability to manipulate incentives that control the masses.”