Boot licker Pat at it again

[guest]

Nixon shouldn’t have taken us off the gold standard. When you print money without backing it with precious material, it becomes worthless paper. Literally.

That’s why Saudi Arabia, the UAE, Kuwait and Qatar’s currency is worth $3.50 American. Because they back it with oil reserves.

I missed this, I'm not a fan of commodity money as the consumer market can't be monetized like it can with fiat (not really fiat, but market dictated). Commodity money can easily manipulated by cornering the commodity. FWIW you're poorly informed on gulf currencies they've ben pegged to USD for years, the Kuwaitis use an undisclosed basket, but it's likely heavily weighted to the USD. They're currency value is lower than the dollar at 3.50-3.80 to a USD, except the Kuwati dinar which is like .3 to a dollar. Not sure what you were getting at, but the gold standard was valueless to the USA by 50's it was a smart move by Nixon and created unrestrained growth for 25 years before Jews fucked it up.

 

[chocolatehellhole]

My kids are going flying at the local airport on the 20th

make sure they check the max takeoff weight for the aircraft considering how fat your kids are

 

[guest]

His delusions still shock me surprisingly.

Nice surprise, stupid.

 

[guest]

Did the batteries die on your anal egg?

 

[Mr-Wrinkle-Paws]

 

[Bin_The_Blacks]

Laughable Grotesque Bitch-Titted Queer.

 

[guest]

Laughable Grotesque Bitch-Titted Queer.

He's oinking up a storm, the manic wave has hit.

 

[FurBurger]

That’s why Saudi Arabia, the UAE, Kuwait and Qatar’s currency is worth $3.50 American. Because they back it with oil reserves.

Saudi Arabia don't; they've just pegged it to the US dollar since 1986. Looks like the UEA do the same.

I'm going to guess that you're wrong about those other currencies, too.

EDIT: Do you know how weird it feels to agree with Boomia on monetary policy?

 

[guest]

Saudi Arabia don't; [URL='https://en.wikipedia.org/wiki/Saudi_riyal#Fixed_exchange_rate']they've just pegged it to the US dollar since 1986.[/URL] Looks like the [URL='https://en.wikipedia.org/wiki/United_Arab_Emirates_dirham#Exchange_rates']UEA do the same.[/URL]

I'm going to guess that you're wrong about those other currencies, too.

EDIT: Do you know how weird it feels to [URL='https://new.onaforums.net/threads/boot-licker-pat-at-it-again.20136/post-426980']agree with Boomia on monetary policy?[/URL]

You shouldn't, remember I have many reasons to understand Forex better than the average American and understanding forex should make Americans follow why commodity dollars would not only be bad for but also unfair to the USA. MMT makes sense to spur investment and keep capital flowing but it can't be used to blanket money across society that lands in the hand of those that don't add any value to things. They abused the system.