521: Working Stiffs

[scottperezfox]

I believe that there is no longer any gold in Fort Knox - instead it's basically a big computer that keeps track of various bank accounts. Welcome to the future, where money is nothing but electrons.

[gumby013]

Originally Posted by scottperezfox

I believe that there is no longer any gold in Fort Knox - instead it's basically a big computer that keeps track of various bank accounts. Welcome to the future, where money is nothing but electrons.

There is still gold in Fort Knox. There was a TV show that brought cameras into the vault a couple years ago. I forget which one.

[Keith]

Yes, it was playmobile.

[mkl]

Originally Posted by gumby013

There is still gold in Fort Knox. There was a TV show that brought cameras into the vault a couple years ago. I forget which one.

Ft. Knox has 4570 tons of gold. Which is worth around 95 Billion Dollars I believe as gold is around 650$ an ounce.

[SavingFace]

GOLD!?

[Blitzgal]

Towards the beginning of the show: The wallet experiment "proves" that black people are more criminalistic than whites.

Towards the end of the show: Keith and Liam both regale us with multiple tales of their own on the job theivery.

[Monoboy]

Damn Tom Sizemore,

I work here in Brazil with shooting of comercial, movies, shows etc, and I was lined up to work in a movie here that had him in the cast. SOmething about a guy comming to the amazon to find a flower that had healing substances. Imagne my luck, the movie got cancelled because the idiot got arrested in the US and the woman that was signed to do the main part got an unwanted pregnancy. What a cast of winners.

YOU OWN ME MONEY TOM AND I WANT IT!

[levendus]

Originally Posted by miranda

Originally Posted by DrWernerBest View Post
Can I be a political economy nerd?

The US Dollar hasn't been based on gold since the early 1970's when Nixon axed the gold standard. So yes, US currency is essentially worthless. Some European central banks back up their currency with other countries' equally worthless currencies. This is called fiat money and is a bad thing because as Keet points out it means your money ain't worth shit.


I was just going to say this! Thank Milton Friedman. If you want to learn more I highly suggest Karmabanque Radio podcast http://www.karmabanqueradio.com/.
And recently, in episode 739 (http://karmabanqueradio.com/?p=548), they completely ripped on Podshow and are guessing that Madge of Yeast Radio is going to be suing Podshow. Rumors are she's all sorts of pissed at them.
I'm too retarded to embed links muchless a youtube video, but this is a good video from Max at Karmabank on the Death of the Dollar:
http://www.youtube.com/watch?v=GbPetrK_6Lc

Here's a brief article that explains the gold standard:
http://economics.about.com/cs/money/a/gold_standard.htm

Nothing has intrinsic value. All value is set by the people involved in the economic exchange. Gold standard, silver standard, fiat they're all just attempts to come up with a way of giving value to a medium of exchange. Hell, in ancient greece they used a cattle standard and there's a polynesian island somewhere that uses carved stone wheels.

The rate of exchange between dollars and gold was set by legislative acts. The original impetus behind agreements like the Bretton Woods Treaty was so that eggheads like Keynes could manage our economy rather than letting we the people do it for ourselves.

And you can also thank Friedman for the boom times we experienced under Reagan and that Clinton was able to leech off of during his worthless presidency.

[rubbintheboywanker]

Originally Posted by Blitzgal

Towards the beginning of the show: The wallet experiment "proves" that black people are more criminalistic than whites.

Towards the end of the show: Keith and Liam both regale us with multiple tales of their own on the job theivery.

so according to this i can say that this 'proves' white males are crimanalistic.

[paul_r]

Originally Posted by rubbintheboywanker

so according to this i can say that this 'proves' white males are crimanalistic.

no only poor comedians