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Sen. Mike Lee And Rep. Kevin Brady Attempt To Bring Back The Gold Standard
Posted by GumboPot on 5/9 at 9:21 pm
quote:

Mike Lee, U.S. Senator from Utah, recently sponsored a bill entitled the “Federal Reserve Modernization Act.” It is the counterpart to Rep. Kevin Brady’s Sound Dollar Act of 2012 (which enjoys 35 House cosponsors and, of equal note, already is drawing liberal fire).


Of course it drew fire from the liberal wing of congress...they don't want the spigot of endless money to enable their endless spending to be closed shut.

quote:

The Brady/Lee legislation represents an important first step forward to restoring good money to America: money that can provide a foundation for prosperity with equity, security, and, of at least equal importance, constitutional integrity.


quote:

The Sound Dollar Act/Federal Reserve Modernization Act directs America’s central bank to monitor the prices of major asset classes including gold and the value of the dollar relative to gold. Gold is the only asset twice specified. One of its three broad categories is entirely devoted to gold. Gold thereby emerges designated as a more important factor in monetary policy than it has played in two generations.

Mr. Brady and Mr. Lee thereby offer a first step toward Constitutional money, which is a dollar defined as a fixed weight of gold. Constitutional money was the good money, conceived by the Founders and installed by George Washington and his Treasury Secretary Alexander Hamilton, which gave the impetus to America to prosper. Both Lee and Brady demonstrate astute awareness of Constitutional history and performance.


Link to article.

The bill.



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Posted by Blue Velvet on 5/9 at 9:23 pm to GumboPot
Is there any reason I shouldn't like Mike Lee? Don't know much about him, but every time his name comes up I find myself liking this guy.


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Posted by GumboPot on 5/9 at 9:26 pm to Blue Velvet
quote:

Is there any reason I shouldn't like Mike Lee? Don't know much about him, but every time his name comes up I find myself liking this guy.



Same here. I seem to recall him and Rand aligning on many issues.



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Posted by Blue Velvet on 5/9 at 9:31 pm to GumboPot
After reading about him...

The good:
The youngest senator who is a constitutional lawyer, eagle scout, and anti-patriot act conservative.

The bad:
"Ground Zero mosque is a poke in the eye to victims."
I do not support gay marriage; nor gays in military.

It appears the mormon is strong in this one.



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Posted by HailHailtoMichigan! on 5/9 at 9:33 pm to GumboPot
"You shall press down upon the brow of labor, this crown of thorns! You shall not crucify mankind upon a cross of gold!"


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Posted by BigBoyTiger on 5/9 at 9:36 pm to Blue Velvet
Not to hijack this thread but what's so wrong with this:

quote:

"Ground Zero mosque is a poke in the eye to victims."


It absolutely is. Couldn't they build it at least a couple of miles away from where Islamic Fundamentalists slaughtered 3,000 innocent people?



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Posted by Joshjrn on 5/9 at 9:38 pm to HailHailtoMichigan!
quote:

"You shall press down upon the brow of labor, this crown of thorns! You shall not crucify mankind upon a cross of gold!"


I have no qualms with silver being the standard, as long as our currency is backed by something.



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Posted by CamdenTiger on 5/9 at 9:38 pm to BigBoyTiger
quote:

quote:"Ground Zero mosque is a poke in the eye to victims." It absolutely is. Couldn't they build it at least a couple of miles away from where Islamic Fundamentalists slaughtered 3,000 innocent people?








Yep, sounds like the common sense is strong with this one.



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Posted by Joshjrn on 5/9 at 9:40 pm to BigBoyTiger
quote:

It absolutely is. Couldn't they build it at least a couple of miles away from where Islamic Fundamentalists slaughtered 3,000 innocent people?


It was 2.5 blocks away. If that's too close, you're being too sensitive.



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Posted by Blue Velvet on 5/9 at 9:42 pm to BigBoyTiger
It's block away from Ground Zero. The building includes a mosque, fitness center, pool, classrooms, kitchens, a theater for lecturers and performers. I believe in the whole "religious freedom" thing that you apparently abhor. These people are in no way connected to the terrorists of 9/11.


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Posted by BigBoyTiger on 5/9 at 9:42 pm to Joshjrn
quote:

It was 2.5 blocks away. If that's too close, you're being too sensitive.


It should be 2.5 miles away.

I still think that's too close. I will admit it's pretty ballsy of them to do that, but I don't think that they should do it.

Just my opinion. Agree to disagree.



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Posted by BigBoyTiger on 5/9 at 9:45 pm to Blue Velvet
quote:

It's block away from Ground Zero. The building includes a mosque, fitness center, pool, classrooms, kitchens, a theater for lecturers and performers.


Oh wonderful...that's really eye opening.

quote:

I believe in the whole "religious freedom" thing that you apparently abhor.


Yes, because after one "post" you know me. Great observation. I am for religious freedom too...but I think there should be an exception in this case. Especially given the circumstances.

Again, agree to disagree.

quote:

These people are in no way connected to the terrorists of 9/11.


They are probably great people. But they should have more sensitivity around the worst event on American soil.



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Posted by Blue Velvet on 5/9 at 9:46 pm to BigBoyTiger
quote:

I am for religious freedom
quote:

exception in this case
el oh el
quote:

They are probably great people. But they should have more sensitivity around the worst event on American soil.
By building a YMCA-like community center blocks away?



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Posted by coloradoBengal on 5/9 at 9:48 pm to BigBoyTiger
quote:

I am for religious freedom too...but I'm about to argue against it.


:nb4Gmorgan:



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Posted by GumboPot on 5/9 at 9:48 pm to HailHailtoMichigan!
quote:

"You shall press down upon the brow of labor, this crown of thorns! You shall not crucify mankind upon a cross of gold!"


If you peruse the bill you will find that gold is only one metric that the Fed will be charged with in it's evaluation of the dollar.

The bill also stikes the Feds current mandate of "maximum employment, stable prices, and moderate long term intrest rates". The new mandate is "long term price stability".

I interpret that to mean, all things being equal, a bottle of coke bought today for $1 will cost $1 fifty years from now. It also means that the federal government will have a difficult time of taxing us though inflation.



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Posted by BigBoyTiger on 5/9 at 9:48 pm to Blue Velvet
Agree to disagree.

I think my overall point is not that the city should stop it but that they should have the respect to build elsewhere.

That is my point.

I'm not debating this any further.



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Posted by CamdenTiger on 5/9 at 9:48 pm to Blue Velvet
The 911 families cared, which is why I cared.


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Posted by BigBoyTiger on 5/9 at 9:50 pm to CamdenTiger
I think some in this thread need to read what I've written. No where did I say that the city should stop them from building it. I just think they should move it (on their own) somewhere else. Obviously that's not going to happen, so whatever.


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Posted by Blue Velvet on 5/9 at 9:51 pm to BigBoyTiger
If you don't build churches where Christians have murdered people you'd be watching mass on the internet as it streams from Antarctica.

This post was edited on 5/9 at 9:54 pm

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Posted by Blue Velvet on 5/9 at 9:53 pm to CamdenTiger
quote:

The 911 families cared, which is why I cared.
There were no muslim Americans killed on 9/11? There were no Americans who believe in religious freedom killed on 9/11? Every person who died on 9/11 has a family that believes all mosques are linked to terrorists?



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