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Will Trump bring back the Gold Standard

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posted on Nov, 10 2016 @ 05:29 PM
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www.zerohedge.com...


It was an event-filled and turbulent evening last night as the results for the 45th US presidential election rolled in, signalling that the majority of the American electorate had voted for Republican candidate Donald Trump. Trump received over 270 of the 538 electoral college votes needed to secure a majority. Trump will now be inaugurated as US President on Friday January 20, 2017.



rump and a Gold Standard

Beyond these short-term benefits to the gold price and the prices of other precious metals from a Trump victory, there are some other longer-term benefits to gold that a Donald trump presidency might create.

These longer term potential benefits to gold stem from Trump's affinity for the use of a gold standard as part of the US monetary system. A gold standard, to define the term generally, is a monetary system that employs gold as a monetary unit, and links the economy's currency to that monetary unit of gold. When used by a number of countries, each country's currency can then be expressed in terms of gold, i.e. the exchange rates between the currencies are defined in terms of gold.

Donald Trump is known to be sympathetic to the concept of a gold standard, and even attracted to the prospect of implementing a gold standard as a way of maintaining the stability and value of the US Dollar. The first of Trump's recent references to a gold standard came in a 2015 interview with WMUR-TV, New Hampshire, in a segment called ‘Conversation with the Candidate’, published on March 31, 2015, in which Trump commented on the gold standard in response to an audience question:

Question: “Can you envision a scenario that this country ever goes back to a gold standard?” Trump: “In some ways, I like the gold standard and there is something very nice about it but you have to go back at the right time... We used to have a very solid country because it was based on a gold standard for it. We do not have that anymore. There is something very nice about the concept of that. It would be very hard to do at this point and one of the problems is we do not have the gold. Other places have the gold."

The transcript of this interview can be read in an archived page of the WTAE-TV Pittsburgh website. See ‘web extra’ section. WTAE is a sister channel of WMUR.


It was interesting in that, Trump as explained in the article, Doesn't believe there 'IS' a Gold Standard right now, and would like to resurrect it.


Following his March 2015 comments, Trump again addressed the gold standard in November 2015 in a short video interview with GQ magazine when he said:

“Bringing back the gold standard would be very hard to do, but boy would it be wonderful. We'd have a standard on which to base our money."


The rest of the Transcript can be viewed on the link i posted.

I think it's a great idea, and long overdue

edit on 10-11-2016 by JesusXst because: (no reason given)




posted on Nov, 10 2016 @ 05:32 PM
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Nope. I can't see his Federal Reserve bosses letting that happen.



posted on Nov, 10 2016 @ 05:33 PM
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Not going to happen. We don't have that much gold.



posted on Nov, 10 2016 @ 05:33 PM
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The gold standard is a horrible idea for many reasons. He also wants to increase interest rates for the same reason- it will make people who already have lots of money very rich.

Of course they will get rich at the expense of everyone else who will be impoverished as the cost of their debts balloon and the amount of money they can attain decreases due the to money supply not keeping up with growth and demand.

We don't have enough gold anyways to realistically achieve this.



posted on Nov, 10 2016 @ 05:35 PM
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Yayyyyyy ATS just went full circle. Gold standard thread.

Would you be interested in my high quality seeds? They're non GMO and will help you survive in the event society collapses. If you have a family you can use my seeds to feed them.



posted on Nov, 10 2016 @ 05:41 PM
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originally posted by: BrokedownChevy
Yayyyyyy ATS just went full circle. Gold standard thread.

Would you be interested in my high quality seeds? They're non GMO and will help you survive in the event society collapses. If you have a family you can use my seeds to feed them.


Only if they're Gold



posted on Nov, 10 2016 @ 06:07 PM
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a reply to: CB328





The gold standard is a horrible idea for many reasons. He also wants to increase interest rates for the same reason- it will make people who already have lots of money very rich.

And all the elderly who used to be able to get a little cash from their savings.



Of course they will get rich at the expense of everyone else who will be impoverished as the cost of their debts balloon and the amount of money they can attain decreases due the to money supply not keeping up with growth and demand.


Ya, like that isn't happening already. You are talking about a debt based economy, Trump is taking about a asset based one.

Look up fractional reserve lending, and I put a 3 min video under.
I believe Briton has its own government printed and distributed money, the interest they pay goes to the country, not the central bankers.




We don't have enough gold anyways to realistically achieve this.

He can use silver, copper, gold of course. I would think 5% silver in our dimes, quarters and nickels would be a good start. Then move to 5% gold in our newly created lets say $50 and $100 silver "eagles".

It would be a big change, I think that the promise we made after WW ll to be the world's reserve currency should be kept, and it should be precious metal backed.



posted on Nov, 10 2016 @ 06:11 PM
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a reply to: seasonal

I was looking for something to post but this explains it perfectly.

Thanks for adding



posted on Nov, 10 2016 @ 06:25 PM
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You might as well forget about the gold standard ever again.

It's the digital ages people.

Physical money, and tangible assets like Gold are yesterdays news.

Far too many STATES governments around the world would lose too much.

Digital currencies/cryptocurrencies will replace fiat currency.

The only question is when.
edit on 10-11-2016 by neo96 because: (no reason given)



posted on Nov, 10 2016 @ 06:47 PM
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There is know gold. Bubba done stole it.



posted on Nov, 10 2016 @ 07:20 PM
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originally posted by: HUMBLEONE
There is know gold. Bubba done stole it.


Time to steal it back from Bubba.



posted on Nov, 12 2016 @ 08:12 AM
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originally posted by: JesusXst

originally posted by: HUMBLEONE
There is know gold. Bubba done stole it.


Time to steal it back from Bubba.



I agree. Who knows where it is now? Remember the old conspiracy theory that all the gold in Fort Knox was gold plated tungsten?



posted on Nov, 12 2016 @ 08:54 AM
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Look up fractional reserve lending


I am familiar with fractional reserve lending but that's a separate issue. The gold standard would keep our money supply from expanding, and since we increase our population by about a million a year that would mean there wouldn't be enough money to go around.



posted on Nov, 14 2016 @ 11:23 AM
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originally posted by: HUMBLEONE

originally posted by: JesusXst

originally posted by: HUMBLEONE
There is know gold. Bubba done stole it.


Time to steal it back from Bubba.



I agree. Who knows where it is now? Remember the old conspiracy theory that all the gold in Fort Knox was gold plated tungsten?


I remember that too. Personally I wouldn't doubt if it was all taken to be stored within the Vatican.

I did find some links about it which may be of interest here.

www.whiteoutpress.com...

tobefree.wordpress.com... eral-reserve-bankers-during-the-clinton-administration/

www.forbes.com...



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