Why aren't any of the two major candidates addressing our monetary policy

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In summary, the conversation discusses the monetary policy of the US and possible solutions to address its issues. This includes replacing the US Dollar with a Gold currency and the role of the Federal Reserve in printing money and causing inflation. The impact of government spending on the value of the US Dollar and the middle class is also mentioned. The conversation also touches on the history of the US monetary system and possible reasons for the government confiscating gold in the past. The conversation also mentions the different opinions on the issue and the role of greed in the current state of the monetary policy.
  • #1
Benzoate
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I am not an expert on the monetary policy of the US , but I think they should addressed the problem with the US Dollar , and maybe talk about replacing the Dollar currency with Gold currency since throughout history the value of gold has relatively stayed constant through time. It is a pretty important topic since many economists are saying the main reason why prices are rising in goods is because of inflation , and the mechanism that is triggering inflation is the Federal Reserve printing money out of thin air. The federal reserve, a a group private banks prints, and distributes paper money , and issues stocks and bonds. We as citizens pay the Federal Reserve charges the US government with interest everytime they print money for us. The Federal Reserve can inflate money on demand. The reason why I won't vote for any of these candidates is because they want to increase the government spending , even though we have a 2 trillion dollar deficit to pay off and according to many economists, the value of the US Dollar would severely weaken and harmed the middle class the most in this country since there incomes are relatively stable compared to the fluctuations of the price of goods and services.

I don't know much about the monetary policy, I have a basic understanding of our monetary policy. I know enough about are monetary system to see that there are problems with our current monetary system and the two candidates running for president should identify and addressed some of the problems with are current monetary policy.

Why did Roosevelt in the 1930's asked the US citizens to hand in their gold to the US government?

http://www.submityourarticle.com/articles/Gavin-Conway-3920/Gold-34989.php
http://www.newswithviews.com/Veon/joan36.htm
http://www.mises.org/money.asp
 
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  • #2
JMHO, One reason may be if Obama suggests a solution that is viable, McCain would like say he came up with it first and claim Obama stole it from him.

Actually the FED dosen't print the money the US Mint (which is overseen the Treasury) does. And the problem isn't so much the volume of the M2 supply but the confidence in the securities (and firms) that back this credit. Greed IMHO, has seen an over abundance of float created to increase profits shown/reflected in many bottom lines. Gold and other precious commodities use to be the basis for the generation of float. However, banks and other finacial institutions started creating float with instruments that were in the end only promises with little substance. Those instruments may have worked if TOP EXECS didn't pull out the values of their companies without supporting what they took. agin, JMO.
 
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  • #3


Thank you for bringing up this important issue regarding the monetary policy and its absence from the discourse of the two major candidates. I cannot comment on the political motives or decisions of the candidates, but I can provide some insight into the topic.

Firstly, I agree that the issue of the US Dollar and its stability is a crucial one. The value of a currency is important for the overall health of the economy and can greatly affect the purchasing power of citizens. The suggestion of replacing the Dollar with a Gold currency is an interesting one, as gold has historically been seen as a stable store of value. However, it is important to note that any decision to change the currency of a country is a complex and multifaceted one and cannot be taken lightly.

Regarding the issue of inflation and the role of the Federal Reserve, it is true that the Federal Reserve has the power to print money and this can lead to inflation. However, it is important to also consider the role of other factors such as supply and demand, economic growth, and international trade in the determination of prices. It is not solely the responsibility of the Federal Reserve to control inflation, but rather a combination of factors that need to be considered.

As for the issue of government spending and the deficit, these are certainly important issues that need to be addressed. However, it is also important to consider the potential consequences of cutting government spending too drastically, which could lead to a decrease in economic growth and negatively impact the middle class. It is a delicate balance that needs to be carefully managed.

As for your question about President Roosevelt's decision to ask citizens to hand in their gold in the 1930s, it was a response to the economic crisis of the Great Depression. It was an attempt to stabilize the currency and prevent hoarding of gold, as the country was on the gold standard at that time. However, the US has since moved away from the gold standard and the decision made in the 1930s does not necessarily apply to our current monetary system.

In conclusion, the monetary policy is a complex and important issue that should be addressed by our candidates. However, it is not a simple problem with a straightforward solution. It requires a thorough understanding of economics and careful consideration of the potential consequences of any changes. As citizens, it is important for us to educate ourselves on these issues and hold our leaders accountable for making informed and responsible decisions regarding the monetary policy.
 

1. Why is monetary policy important in the election?

Monetary policy plays a crucial role in influencing the overall economy and can have a significant impact on issues such as inflation, employment, and economic growth. As such, it is important for candidates to address their stance on monetary policy and how they plan to manage it if elected.

2. How does monetary policy affect the average person?

Monetary policy can affect the average person in various ways, such as through changes in interest rates and inflation. For example, if the Federal Reserve raises interest rates, it can make borrowing more expensive, which can impact individuals with mortgages, car loans, and credit card debt. Additionally, changes in inflation can affect the cost of goods and services, ultimately impacting the purchasing power of individuals.

3. What are the current monetary policy issues that need to be addressed?

Some of the current monetary policy issues that need to be addressed include the impact of the COVID-19 pandemic on the economy, the growing national debt, and the ongoing debate over the appropriate level of interest rates. Candidates should provide their plans for addressing these issues and how they will work with the Federal Reserve to manage monetary policy effectively.

4. What are the potential consequences of not addressing monetary policy in the election?

If monetary policy is not properly addressed in the election, it could lead to potential consequences such as an unstable economy, rising inflation, and a decrease in consumer confidence. This could ultimately have negative effects on businesses, individuals, and the overall health of the economy.

5. What are the differences in the monetary policy stances of the two major candidates?

The two major candidates may have different approaches to managing monetary policy, which could include differences in their views on the appropriate level of interest rates, the role of the Federal Reserve, and strategies for addressing economic challenges. It is important for voters to understand these differences and how they may impact the economy if the candidate is elected.

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