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Senator Sanders selects Stephanie Kelton: MMT on the Senate Budget Committee

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  • Strongly Liberal Democrat
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    Dallas, TX
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    Hey, Schmidt!!!!!

    Today, Stephanie Kelton, Chair of the Department of Economics at the University of Missouri at Kansas City, accepted Senator Bernie Sander's offer to become Chief Economist for the Minority on the Senate Budget Committee.

    Modern Monetary Theory's brightest star is now an 'insider'.

    www.washingtonexaminer.com/sanders-names-deficit-owl-his-chief-economist/articl...
  • Liberal
    Other Party
    Llos Angeles, CA
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    Carlitos Wrote: Hey, Schmidt!!!!!

    Today, Stephanie Kelton, Chair of the Department of Economics at the University of Missouri at Kansas City, accepted Senator Bernie Sander's offer to become Chief Economist for the Minority on the Senate Budget Committee.

    Modern Monetary Theory's brightest star is now an 'insider'.

    www.washingtonexaminer.com/sanders-names-deficit-owl-his-chief-economist/articl...
    They have you believing that deficts are good for growth.....Borrowing at interest is never good, in any situation.. You want to balance the budget, ...go back to the gold standard.. Defecits were the reason they took us off in the first place...Congress wanted blank checks to write without our consent....Nixon took us off the gold standard within 72 hours. Why? because they care about the citizenry????.

    There wasn't enough gold to back all those wortlhess fiat notes they wanted to print. Created money out of thin air and then loaned it to us (for collateral of course) Where I come from they call it EXTORTION. How is it that someone can print paper, monetize it (having nothing to back it) and then loan it out for interest. Isn't that fraud? And then take your property in forfeit if you can't pay them for something they never had. Many people seem to like Bernie Sanders; he may infact be the lessor of two evils but that's not really a reason to favor someone. He's a wolf in sheeps clothing.

    Wealthy families build and fund the very business scools that their children will attend at all these Ivy leaugue universities. Students are indoctrinated into believe vulture capitalism is a great thing. There's no other model taught. They truly believe that they're entitled to take from us. I guess we truly are goyim.
  • Independent
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    [url=https://www.democratichub.com/user/79340.aspx"> L.A. Citizen[/url] Wrote:
    Carlitos Wrote: Hey, Schmidt!!!!!

    Today, Stephanie Kelton, Chair of the Department of Economics at the University of Missouri at Kansas City, accepted Senator Bernie Sander's offer to become Chief Economist for the Minority on the Senate Budget Committee.

    Modern Monetary Theory's brightest star is now an 'insider'.

    www.washingtonexaminer.com/sanders-names-deficit-owl-his-chief-economist/articl...
    They have you believing that deficts are good for growth.....Borrowing at interest is never good, in any situation.. You want to balance the budget, ...go back to the gold standard.. Defecits were the reason they took us off in the first place...Congress wanted blank checks to write without our consent....Nixon took us off the gold standard within 72 hours. Why? because they care about the citizenry????.

    There wasn't enough gold to back all those wortlhess fiat notes they wanted to print. Created money out of thin air and then loaned it to us (for collateral of course) Where I come from they call it EXTORTION. How is it that someone can print paper, monetize it (having nothing to back it) and then loan it out for interest. Isn't that fraud? And then take your property in forfeit if you can't pay them for something they never had. Many people seem to like Bernie Sanders; he may infact be the lessor of two evils but that's not really a reason to favor someone. He's a wolf in sheeps clothing.

    Wealthy families build and fund the very business scools that their children will attend at all these Ivy leaugue universities. Students are indoctrinated into believe vulture capitalism is a great thing. There's no other model taught. They truly believe that they're entitled to take from us. I guess we truly are goyim.

    read james Galbraith. Deficits are a tool. large nation-states can run deficits very easily. most of our debt, the vast majority of it, is held internally. the gold standard was done away with because it was untenable. Iirc, the uk and France were going to line up and demand gold for the dollars they held. Nixon had no choice. all currency including gold is fiat. Gold has no intrinsic value except for electrical engineering purposes. Humans decided gold was "valuable" and so it was. Aluminum at one time was more valuable than gold due to the tremendous energy required to refine it from bauxite. No one would demand a currency backed by aluminum. there's isn't enough gold in the world to back the U.s. Dollars in circulation. Plus as a commodity the dollar would then be subject to speculators who could crash the currency. No, thanks.
  • Liberal
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    Llos Angeles, CA
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    lonely bird Wrote:
    [url=https://www.democratichub.com/user/79340.aspx"> L.A. Citizen[/url] Wrote:
    Carlitos Wrote: Hey, Schmidt!!!!!

    Today, Stephanie Kelton, Chair of the Department of Economics at the University of Missouri at Kansas City, accepted Senator Bernie Sander's offer to become Chief Economist for the Minority on the Senate Budget Committee.

    Modern Monetary Theory's brightest star is now an 'insider'.

    www.washingtonexaminer.com/sanders-names-deficit-owl-his-chief-economist/articl...
    They have you believing that deficts are good for growth.....Borrowing at interest is never good, in any situation.. You want to balance the budget, ...go back to the gold standard.. Defecits were the reason they took us off in the first place...Congress wanted blank checks to write without our consent....Nixon took us off the gold standard within 72 hours. Why? because they care about the citizenry????.

    There wasn't enough gold to back all those wortlhess fiat notes they wanted to print. Created money out of thin air and then loaned it to us (for collateral of course) Where I come from they call it EXTORTION. How is it that someone can print paper, monetize it (having nothing to back it) and then loan it out for interest. Isn't that fraud? And then take your property in forfeit if you can't pay them for something they never had. Many people seem to like Bernie Sanders; he may infact be the lessor of two evils but that's not really a reason to favor someone. He's a wolf in sheeps clothing.

    Wealthy families build and fund the very business scools that their children will attend at all these Ivy leaugue universities. Students are indoctrinated into believe vulture capitalism is a great thing. There's no other model taught. They truly believe that they're entitled to take from us. I guess we truly are goyim.

    read james Galbraith. Deficits are a tool. large nation-states can run deficits very easily. most of our debt, the vast majority of it, is held internally. the gold standard was done away with because it was untenable. Iirc, the uk and France were going to line up and demand gold for the dollars they held. Nixon had no choice. all currency including gold is fiat. Gold has no intrinsic value except for electrical engineering purposes. Humans decided gold was "valuable" and so it was. Aluminum at one time was more valuable than gold due to the tremendous energy required to refine it from bauxite. No one would demand a currency backed by aluminum. there's isn't enough gold in the world to back the U.s. Dollars in circulation. Plus as a commodity the dollar would then be subject to speculators who could crash the currency. No, thanks.
    LB

    The only thing that has ever come close to the value of gold is salt....so I have to disagree with you, And yes, Britain had already demanded 3 billion dollars from the US treasury when they traded US dollars for gold. But thats the point. They redeemed dollars for gold. That was their right. Gold backed the dollar.
    I said earlier that debt is bad...in all situations, regardless if a country can still operate,,,,,,we have to pay the interest. LB, no way....DEBT IS NOT GOOD.
    AS FAR AS CRASHING THE CURRENCY, look what happened in the great depression and 2008, speculators can crash the dollar without gold so what's your point. The dollar has no intrinsic value......"the full faith and credit of the US"...no thanks, I'll have gold please.
    They even sucked out all the precious metals from coins.....why? because Nixon thought about the citizens? he cared so much for the Tax payer?
    Nixon did away with the standard to benefit the Federal Reserve........BANKS. Do you really believe that he did it to benefit the US?

    These sons of bitches had already attempted a central bank on three seperate occasions......and in all 3 occasions...it failed. They modeled our system after the Banks of Europe.....read "Creature from jekyl Island" .as long as we're recommending books to each other.....They didn't care if it failed, the name of the game is "BAIL OUT".......Do you have any idea how much wealth was created for the ruling class since we went off the Gold Standard?
    LB, it seems that you're defending the way "things have been" Take a look around. I don't get it. This country has been going down since the seventies. HMMMMM, I wonder if the two are connected? Well, I mean for the US worker, not the ruling class, things have gotten so much better for them since then.
  • Strongly Liberal Democrat
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    Dallas, TX
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    right on, Lonely Bird!!!!

    Galbraith wrote the forward to Warren Mosler's book "7DIF."
  • Liberal Democrat
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    Colorado Springs, CO
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    Hey Carlitos -- Good to hear from you again. As usual you'll find naysayers on this website, and I don't think you have the energy or time to start educating people again on Modern Monetary Theory. It's a major hurdle to get over unless you are willing to spend time.

    L.A. Citizen -- I read "The Creature from Jekyll Island" at one time and was almost swayed. But after doing considerable fact checking, I decided the book was full of unsupported myths that are easily debunked. However, for conspiracy theorists, it has become a bible of sorts. The gold standard doesn't make sense in this 21st century global economy, and not a single country in the world uses it...it is old school.

    Deficit spending by the government is what creates private sector wealth. Budget surpluses drain private sector wealth. A balanced budget amendment would be a disaster for our economy. Federal government deficits are necessary to create the extra demand when the economy is at less than full employment.

    Of course, if you still believe in gold, you are free to buy it. Put all your money in it if you like. Keep it under your mattress.
  • Independent
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    l.a. here is a link re: aluminum.

    www.slate.com/articles/health_and_science/elements/features/2010/blogging_the_p...

    the internet has varying numbers as to how much gold has been mined. i used a high number, 180,000 metric tones. this results in 6,451,200,000 ounces. at $1,000 per ounce that leaves a value of @6.5 trillion. the u.s. economy is far greater than that. the world economy is far greater than the u.s. economy. there simply is not enough gold in the world to back the currency a major nation-state like the u.s. a commodity backing a currency would have to be fully convertible. this was the problem with the bretton woods agreement as time progressed. you would also have to limit severely how much gold could be held privately. gold is simply no longer supportable as a means of backing currency.

    as for the fed i don't like the private/public nature of the fed. a nation-state must control its currency and the fed is something, imo, slightly less than that. the fed was supposedly like the scotus free from politics. that canard was definitely exposed by greenspan's tenure.
  • Liberal
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    Durham, NH
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    [url=https://www.democratichub.com/user/79340.aspx"> L.A. Citizen[/url] Wrote:
    Carlitos Wrote: Hey, Schmidt!!!!!

    Today, Stephanie Kelton, Chair of the Department of Economics at the University of Missouri at Kansas City, accepted Senator Bernie Sander's offer to become Chief Economist for the Minority on the Senate Budget Committee.

    Modern Monetary Theory's brightest star is now an 'insider'.

    www.washingtonexaminer.com/sanders-names-deficit-owl-his-chief-economist/articl...
    They have you believing that deficts are good for growth.....Borrowing at interest is never good, in any situation.. You want to balance the budget, ...go back to the gold standard.. Defecits were the reason they took us off in the first place...Congress wanted blank checks to write without our consent....Nixon took us off the gold standard within 72 hours. Why? because they care about the citizenry????.

    There wasn't enough gold to back all those wortlhess fiat notes they wanted to print. Created money out of thin air and then loaned it to us (for collateral of course) Where I come from they call it EXTORTION. How is it that someone can print paper, monetize it (having nothing to back it) and then loan it out for interest. Isn't that fraud? And then take your property in forfeit if you can't pay them for something they never had. Many people seem to like Bernie Sanders; he may infact be the lessor of two evils but that's not really a reason to favor someone. He's a wolf in sheeps clothing.

    Wealthy families build and fund the very business scools that their children will attend at all these Ivy leaugue universities. Students are indoctrinated into believe vulture capitalism is a great thing. There's no other model taught. They truly believe that they're entitled to take from us. I guess we truly are goyim.

    Sorry LA, you're totally wrong on this one, but God bless you anyhow;)
  • Liberal
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    Llos Angeles, CA
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    pgr Wrote:
    [url=https://www.democratichub.com/user/79340.aspx"> L.A. Citizen[/url] Wrote:
    Carlitos Wrote: Hey, Schmidt!!!!!

    Today, Stephanie Kelton, Chair of the Department of Economics at the University of Missouri at Kansas City, accepted Senator Bernie Sander's offer to become Chief Economist for the Minority on the Senate Budget Committee.

    Modern Monetary Theory's brightest star is now an 'insider'.

    www.washingtonexaminer.com/sanders-names-deficit-owl-his-chief-economist/articl...
    They have you believing that deficts are good for growth.....Borrowing at interest is never good, in any situation.. You want to balance the budget, ...go back to the gold standard.. Defecits were the reason they took us off in the first place...Congress wanted blank checks to write without our consent....Nixon took us off the gold standard within 72 hours. Why? because they care about the citizenry????.

    There wasn't enough gold to back all those wortlhess fiat notes they wanted to print. Created money out of thin air and then loaned it to us (for collateral of course) Where I come from they call it EXTORTION. How is it that someone can print paper, monetize it (having nothing to back it) and then loan it out for interest. Isn't that fraud? And then take your property in forfeit if you can't pay them for something they never had. Many people seem to like Bernie Sanders; he may infact be the lessor of two evils but that's not really a reason to favor someone. He's a wolf in sheeps clothing.

    Wealthy families build and fund the very business scools that their children will attend at all these Ivy leaugue universities. Students are indoctrinated into believe vulture capitalism is a great thing. There's no other model taught. They truly believe that they're entitled to take from us. I guess we truly are goyim.

    Sorry LA, you're totally wrong on this one, but God bless you anyhow;)Mr
    Mr. PGR,


    If I'm wrong on this ...and I very well may be. Why is a gallon of milk damn near 5.00?? Why are we 18 trillion dollars in debt? Wy did we bail out Wall Street?

    Why has the dollar devaluated as it has? Why can Congress just order up a new batch of money? If everything that these guys are saying is true, why are we in this position?


    You see, we are able to just go to war with anyone we choose becauae we can borrow those fiat notes as long as those notes are globally accepted ...So what if thge US dollar stops being the money of choice???? Then what?

    And if gold is so worthless why did the goverbnment force us to turn it in? Why not aluminum or pigs feet, WHY GOLD? For something so not needed, the government sure took it out of our hands.....they forced this sysytem upon us which is why they took it in the 1930s.......

    No PGR, god doesn't bless me, he let them take our gold.......LB, the last time i checked I can't rap my turkey in gold foil bu i can walk in the corner store and buy all the aliminum I want
  • Democrat
    Missouri
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    While I am thrilled at the appointment of Ms. Stephanie Kelton from my beloved University of Missouri as an Alumni myself, I look forward to great things to happen on the Senate Budget Committee. As politics go, I hope she does not drink too much Kool-Aid from the Republicans.

    As for the comments on Gold (Au, 79), the world continues to place a significant high value on Gold. If you ever desire to sell your gold, India is buying all they can get. For the respondent that indicated few uses of gold in today's market, couldn't be farther from the truth. Gold is one of those most malleable of metals that has resistance to corrosion, non-reactive, and reflective properties to infrared radiation. The continued uses of gold, which raises it's price on the market, is in electronics, dentistry, jewelry, glass, photography, medicine, pharmaceuticals, spacesuits, heat-shields, and many more. Since gold is unaffected by air, moisture, and corrosion reagents and has only one stable isotope naturally occurring, it is very valuable in Industry for Chemistry, Engineering, Medical, and Physics.

    Gold is very useful even for how it reacts to mercury (dissolves) in creating alloys. Specific alkaline solutions break down Gold where industry uses make products to contain those "Golden" properties in clothing, glass, jewelry and more.

    So before you make uninformed statements about gold, please do your research first. I will admit, countries are going away from the gold standard to their national worthiness, but nobody can take away the supply and demand for such a valuable metal. It will remain an investors option, just like corn, coffee, iron, and for the future..........get ready........pure water.

    In electronics, recent discoveries in nanotech is threatening gold and silver as dominate metals. Products, coming our such as Graphene, is on the forefront because it handles thousands of times more current, stronger than steel and weighs much less than gold or silver. I'm currently watching the Graphene explosion for my own investments, because this product if is as science and industry reports are indicating, will be in every conceivable market in the world. Although the allure for gold will remain, people are mystified by it's beauty and ease of use. Those magnificent churches around the world are beautifully adorned with gold, which makes me feel great to be in God's presence and reinforces my faith and beliefs in the Glory of God. Of course, I am in complete satisfaction being in God's presence wherever I may go, woods, living room, or anywhere. Gold, though does have that beauty as a Glory from God's Creation. Besides churches, if you ever get to St. Petersburg, Russia, Catherine's Palace where two years ago the G20 Summit took place, behind the palace and including inside is some of the world's best displays of art and architecture adorned with gold. The fountains behind the palace shine brilliant with gold crusting.

    Besides the alien (love that Alien) droppings of gold on the earth from meteoric landings, the earth's mantle or core is proclaimed to contain the most gold on the planet. In fact, sea water even contains gold as does the surface of the earth, where we all play. Now, if you could go deep beyond 1800 miles below the surface you will locate gold and it has been identified that enough gold lies deep in the earth to surround the earth surface over 12 feet thick in a gold laden ball. Do some searching on "Gold in the earth's core", and you can find some easy facts on those (such as, geologists) who map the earth for a profession. Ever wonder why gold is brought to the surface by earthquakes and volcanic activity? Because there is a lot of gold mixed in with molten rock and pieces of the earth's mantle that comes to the surface.

    We haven't run out of gold as the world hasn't even begun to mine significant quantities to lower the price of this precious metal. Its the politics in play that toy with the price of gold and I believe that those countries who have dropped the gold standard on their monetary worth are just those who don't want to play in the same sandbox as the rest of us. As I indicated, its the politics and not the worthiness of gold in the markets. I assume Colorado will make their State monetary standard..........marijuana............go figure!

    You go girl.......Ms. Stephanie Kelton....................Go Mizzou!
  • Liberal
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    Llos Angeles, CA
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    Fellas

    Here I have AMC agreeing with me. Governments are hoarding gold. WHY? you see, if a gold brick fell off the back of a truck...you, me and the rest of the block would risk life and limb to get to that brick...and would probably kill for it.....If a brick of aliminum fell off that truck I'd go buy a turkey and a ham and get to baking.
    In the event of a complete economic global meltdown you would still be able to buy things that were needed with gold.....anything.
    Schmidt, you say gold is outdated in this global economy and you are 100 percent correct. Only because they forced it on us. Legal tender was created when they monetized these notes and deemed it the only source of currency to be accepted by everyone. Why is that?
    We also needed fiat currency to start a global market? Do we actually need a global economy? we did it for thousands of years prior...It was called bartering
    WE TRADED FOR SHIT.
    Now, in 2008 during the meltdown.....people lost everything...OH WELL, but what if the dollar had been backed by gold.? that matress refeence that Schmidt made doesn't seem so funny now.......IN 2008 lifelong 401ks were decimated in an instant......2008 will happen again and again. Obama allowed dodd-frank to be shredded...WHY ......When Congress passed Dodd/Frank they knew it was temporary.....as it always is. Obama and the rest of them talked all that shit about how the tax-payer would NEVER AGAIN bail out wall street.......We're bailing out banks again..

    Look, I don't know a lot.........Damn, I don't know anything.......but I can add and subtract.....This isnt a conspiracy theory, this was robbery committed in broad daylight by your government.. I carry very little debt. If I can't afford it I don't buy it.
    Believe this or not....In my twenties I had quite a bit of money....they took everything from me....but I realized something in prison. I'm okay . You're really not allowed anything in there, I was okay with that. I lived. The world didn't come crashing down because I'm only allowed a few things.

    You guys seem to think that if a hard working man saves a 100,000 in his retirement, that its perfectly fine that in one day his money has lost 30 percent through devaluation because gold sucks? Is that a fair question
  • Liberal
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    Llos Angeles, CA
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    L.A. Citizen Wrote: Fellas

    Here I have AMC agreeing with me. Governments are hoarding gold. WHY? you see, if a gold brick fell off the back of a truck...you, me and the rest of the block would risk life and limb to get to that brick...and would probably kill for it.....If a brick of aliminum fell off that truck I'd go buy a turkey and a ham and get to baking.
    In the event of a complete economic global meltdown you would still be able to buy things that were needed with gold.....anything.
    Schmidt, you say gold is outdated in this global economy and you are 100 percent correct. Only because they forced it on us. Legal tender was created when they monetized these notes and deemed it the only source of currency to be accepted by everyone. Why is that?
    We also needed fiat currency to start a global market? Do we actually need a global economy? we did it for thousands of years prior...It was called bartering
    WE TRADED FOR SHIT.
    Now, in 2008 during the meltdown.....people lost everything...OH WELL, but what if the dollar had been backed by gold.? that matress refeence that Schmidt made doesn't seem so funny now.......IN 2008 lifelong 401ks were decimated in an instant......2008 will happen again and again. Obama allowed dodd-frank to be shredded...WHY ......When Congress passed Dodd/Frank they knew it was temporary.....as it always is. Obama and the rest of them talked all that shit about how the tax-payer would NEVER AGAIN bail out wall street.......We're bailing out banks again..

    Look, I don't know a lot.........Damn, I don't know anything.......but I can add and subtract.....This isnt a conspiracy theory, this was robbery committed in broad daylight by your government.. I carry very little debt. If I can't afford it I don't buy it.
    Believe this or not....In my twenties I had quite a bit of money....they took everything from me....but I realized something in prison. I'm okay . You're really not allowed anything in there, I was okay with that. I lived. The world didn't come crashing down because I'm only allowed a few things.

    You guys seem to think that if a hard working man saves a 100,000 for his retirement, that its perfectly fine that in one day his savings can be worth absolutely nothing. That's okay with you guys?????
  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    AmcmurryFreedom, if you happen to be on facebook, I operate a group featuring Dr. Kelton, Warren Mosler, and Mathew Forstater. It's the MMT Deficit Owl USA Committee.
  • Strongly Liberal Democrat
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    Dallas, TX
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    L.A. Citizen.....

    the gov't deficit is nothing more than a reflection of what the "market" determines it wants to save of the gov't currency and not use to pay taxes.

    gov't spending=taxes paid + dollars saved.

    gov't deficit=non-government surplus.

    Please read Warren Mosler's book, 7DIF, which is free online. He is a Wall Street/hedge fund legend, super-car builder, and one of the founders of MMT.
    He is also a mentor of yours truly.

    He has advised principles in every administration since George H.W. Bush (except OBAMA's, although they did adopt his payroll tax cut plan in watered down form).

    moslereconomics.com/wp-content/powerpoints/7DIF.pdf
  • Independent
    Ft.myers, FL
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    AmcmurryFreedom Wrote: While I am thrilled at the appointment of Ms. Stephanie Kelton from my beloved University of Missouri as an Alumni myself, I look forward to great things to happen on the Senate Budget Committee. As politics go, I hope she does not drink too much Kool-Aid from the Republicans.

    As for the comments on Gold (Au, 79), the world continues to place a significant high value on Gold. If you ever desire to sell your gold, India is buying all they can get. For the respondent that indicated few uses of gold in today's market, couldn't be farther from the truth. Gold is one of those most malleable of metals that has resistance to corrosion, non-reactive, and reflective properties to infrared radiation. The continued uses of gold, which raises it's price on the market, is in electronics, dentistry, jewelry, glass, photography, medicine, pharmaceuticals, spacesuits, heat-shields, and many more. Since gold is unaffected by air, moisture, and corrosion reagents and has only one stable isotope naturally occurring, it is very valuable in Industry for Chemistry, Engineering, Medical, and Physics.

    Gold is very useful even for how it reacts to mercury (dissolves) in creating alloys. Specific alkaline solutions break down Gold where industry uses make products to contain those "Golden" properties in clothing, glass, jewelry and more.

    So before you make uninformed statements about gold, please do your research first. I will admit, countries are going away from the gold standard to their national worthiness, but nobody can take away the supply and demand for such a valuable metal. It will remain an investors option, just like corn, coffee, iron, and for the future..........get ready........pure water.

    In electronics, recent discoveries in nanotech is threatening gold and silver as dominate metals. Products, coming our such as Graphene, is on the forefront because it handles thousands of times more current, stronger than steel and weighs much less than gold or silver. I'm currently watching the Graphene explosion for my own investments, because this product if is as science and industry reports are indicating, will be in every conceivable market in the world. Although the allure for gold will remain, people are mystified by it's beauty and ease of use. Those magnificent churches around the world are beautifully adorned with gold, which makes me feel great to be in God's presence and reinforces my faith and beliefs in the Glory of God. Of course, I am in complete satisfaction being in God's presence wherever I may go, woods, living room, or anywhere. Gold, though does have that beauty as a Glory from God's Creation. Besides churches, if you ever get to St. Petersburg, Russia, Catherine's Palace where two years ago the G20 Summit took place, behind the palace and including inside is some of the world's best displays of art and architecture adorned with gold. The fountains behind the palace shine brilliant with gold crusting.

    Besides the alien (love that Alien) droppings of gold on the earth from meteoric landings, the earth's mantle or core is proclaimed to contain the most gold on the planet. In fact, sea water even contains gold as does the surface of the earth, where we all play. Now, if you could go deep beyond 1800 miles below the surface you will locate gold and it has been identified that enough gold lies deep in the earth to surround the earth surface over 12 feet thick in a gold laden ball. Do some searching on "Gold in the earth's core", and you can find some easy facts on those (such as, geologists) who map the earth for a profession. Ever wonder why gold is brought to the surface by earthquakes and volcanic activity? Because there is a lot of gold mixed in with molten rock and pieces of the earth's mantle that comes to the surface.

    We haven't run out of gold as the world hasn't even begun to mine significant quantities to lower the price of this precious metal. Its the politics in play that toy with the price of gold and I believe that those countries who have dropped the gold standard on their monetary worth are just those who don't want to play in the same sandbox as the rest of us. As I indicated, its the politics and not the worthiness of gold in the markets. I assume Colorado will make their State monetary standard..........marijuana............go figure!

    You go girl.......Ms. Stephanie Kelton....................Go Mizzou!
    Again you drag in "god"; I doubt if that has anything to do with this subject. For your information all the gold in these churches was stolen from the Inca's and others etc. These churches were built with slave labor as well. Pls be proud of the Inca's and the slaves!! Again this done by "humans" not "god's.