plan to return to gold standard unveiled in D.C.

[Large Sarge]

http://www.nysun.com/national/plan-to-return-america-to-the-gold-standard-set/87495/

[chad]

as much as i'd love to see this, it would take control away from bankers + put it back in the hands of the people. that will never happen. i think it's far more likely we'll see fiat currency 2.0.

[mamboni]

as much as i'd love to see this, it would take control away from bankers + put it back in the hands of the people. that will never happen. i think it's far more likely we'll see fiat currency 2.0.

The people do have control vis-a-vis free gold. They can trade their FRNs for gold here and now and dictate the monetary policy of the United States. The problem is that they do not avail themselves of this because 99% are totally ignorant of gold as money. We don't need a gold standard. We need a population that views gold as money. Then everything would sort itslef out rather quickly. Note that the gold price has increased 600% since 2001. This price increase has been largely driven by the 1% who understand gold as money. When that number grows to 5%, gold will be $5000+ and the FED will be finished.

[sirgonzo420]

I can see gold being used to "back" the currency, although only central banks would be able to "redeem" their currency for specie (gold).

[osoab]

I can see gold being used to "back" the currency, although only central banks would be able to "redeem" their currency for specie (gold).


Which central bank is willing to take gold coated tungsten bars?

[midnight rambler]

We don't need a gold standard. We need a population that views gold as money. Then everything would sort itself out rather quickly.

Moreover, we need a population that comprehends and appreciates what substance/value is (and therefore true wealth).

[sirgonzo420]

Which central bank is willing to take gold coated tungsten bars?

The same ones that (unknowingly) take them now!

[palani]

I can see gold being used to "back" the currency, although only central banks would be able to "redeem" their currency for specie (gold).

Read

Title: Fiat Money Inflation in France

Author: Andrew Dickson White

Available for free download from the Gutenburg Project.

You will find the French backed their fiat currency in 1800 with the real estate seized from nobles who no longer had control of their heads (and no further use for their land). Gold is portable land. Whatever method is used for "backing" still results in fiat money and failure.

[goldleaf]

All wealth comes from the ground!

[palani]

All wealth comes from the ground!

All wealth returns to the ground. [This is how the meek inherit the earth]

[po boy]

All wealth returns to the ground. [This is how the meek inherit the earth]

Compost!

[palani]

Compost!

Nightsoil?

[po boy]

I wonder if the meek are worms.

[sirgonzo420]

I wonder if the meek are worms.

Never have I met a narcissistic night-crawler.

[po boy]

Never have I met a narcissistic night-crawler.

I have observed that their shit don't stink either.

[Hatha Sunahara]

All wealth comes from the ground!

And the way we secure it for ourselves is to work for it. Most of us do that. Bankers do not. They secure wealth by transferring it from the fruit of our labor by charging us rent for the money we use to exchange that wealth. Usury is what they use to suck that wealth out of us.


Hatha

[learn2swim]

A gold standard wouldn't hurt the central banks since they own most of the gold anyways. This guy is a member of the Heritage Foundation,a globalist backed think tank in D.C.

[Sparky]

The people do have control vis-a-vis free gold. They can trade their FRNs for gold here and now and dictate the monetary policy of the United States. The problem is that they do not avail themselves of this because 99% are totally ignorant of gold as money. We don't need a gold standard. We need a population that views gold as money. Then everything would sort itslef out rather quickly. Note that the gold price has increased 600% since 2001. This price increase has been largely driven by the 1% who understand gold as money. When that number grows to 5%, gold will be $5000+ and the FED will be finished.

Yes, I've made this point before that we are on a de facto gold standard. However, there are substantial transaction costs. These include the buy/sell price spread, sales tax (some states), and capital gains tax (for law abiding citizens).