beefsteak
5th August 2012, 10:21 AM
Martin Armstrong briefly---I know, I know...very rare for Marty to be brief--;D--but here is his brief blog on returning to the gold standard resulting in inevitable civil war.
My question is: Sinclair states US currency unit will end up being partially backed by gold certificates. Does that mean we have only a "kinda civil war" ahead of us shortly, as in only "kinda pregnant?"
You decide.
Solutions (http://armstrongeconomics.com/2012/08/05/solutions/)
Posted on August 5, 2012 (http://armstrongeconomics.com/2012/08/05/solutions/)
A lot of people are fixed on what is money and presume somehow that a return to precious metals will solve the problem. Precious metals are for personal use. They have never prevented any society from systemic economic collapse. Do not confuse hoarding gold to preserve wealth with a gold standard.
...The only solution to be realistic must address the outstanding debt while eliminating the capacity to borrow. Changing to a gold standard means the outstanding debt would be due then in gold. The bankers will love that. If we default, there goes all pension funds and we will be looking at massive civil unrest.
.....Gold is for personal survival. Switching to gold does not address the debt, 40% employment in government, the pensions, and our long-term survival. Look at Greece as government workers riot against austerity. A gold standard now would create civil war. So gold may help you survive personally as the economy switches to underground, but...
WARNING:
this can be read in its entirety in 3 minutes...
.......by doing so, it may make you think longer.
beefsteak
My question is: Sinclair states US currency unit will end up being partially backed by gold certificates. Does that mean we have only a "kinda civil war" ahead of us shortly, as in only "kinda pregnant?"
You decide.
Solutions (http://armstrongeconomics.com/2012/08/05/solutions/)
Posted on August 5, 2012 (http://armstrongeconomics.com/2012/08/05/solutions/)
A lot of people are fixed on what is money and presume somehow that a return to precious metals will solve the problem. Precious metals are for personal use. They have never prevented any society from systemic economic collapse. Do not confuse hoarding gold to preserve wealth with a gold standard.
...The only solution to be realistic must address the outstanding debt while eliminating the capacity to borrow. Changing to a gold standard means the outstanding debt would be due then in gold. The bankers will love that. If we default, there goes all pension funds and we will be looking at massive civil unrest.
.....Gold is for personal survival. Switching to gold does not address the debt, 40% employment in government, the pensions, and our long-term survival. Look at Greece as government workers riot against austerity. A gold standard now would create civil war. So gold may help you survive personally as the economy switches to underground, but...
WARNING:
this can be read in its entirety in 3 minutes...
.......by doing so, it may make you think longer.
beefsteak