Trump pick for the Treasury Secretary hinted that he will implement the gold standard

a reply to: AugustusMasonicus

I'd agree with a lot if it worked and wasn't in the best interest of the wealthy elites while crushing everyone else.

originally posted by: AugustusMasonicus

originally posted by: intrptr
Haha, Qaddafi tried implementing his own gold standard and even wanted to trade his oil for gold, look what the world bankers did to him.

Qaddafi could do that, Trump cannot.

Last time I remember anyone talking about disbanding the Federal Reserve was Reagan. They tried to kill him, too. They did kill Kennedy, Lincoln, etc.

Link

a reply to: intrptr

Lincoln was killed over the gold standard?

originally posted by: Swills
I'd agree with a lot if it worked and wasn't in the best interest of the wealthy elites while crushing everyone else.

Same.

originally posted by: intrptr
Last time I remember anyone talking about disbanding the Federal Reserve was Reagan. They tried to kill him, too. They did kill Kennedy, Lincoln, etc.

None of the Presidents you mentioned tried to end the Federal Reserve.

Its not that there isn't enough gold to match the current debt, its that the debt could be marked down to a reasonable level of the total value. If we owe 40 Trillion dollars now it could be 4 Trillion Democracy Dollars, or whatever they end up being called. That is if he bails on the US dollar completely for a new currency.

originally posted by: Swills
Lincoln was killed over the gold standard?

No, the Federal Reserve. He tried to use the internet to stop it.

Where is he going to get all that gold from?

This isn't exactly news so much as a highly speculative opinion piece which tries to tie the following things together to make a pipe dream for people to chatter about.

1. Vague things Trump said on campaign trail.
2. Something from Allison published by Cato (FYI Allison is the former head of Cato) in 2014.
3. The possibility of Allison being appointed the Treasury Sec (the smart money says Mnuchin is a lock).
4. Congress getting on board with any of this.

There's a staggering amount of ifs here.

originally posted by: Tardacus
Where is he going to get all that gold from?

It does not have to be physically backed to gold, just tied to the spot price. This is why I suggested a larger basket of commodities instead of just gold, there would be less fluctuation and less chance to manipulate the market.

originally posted by: Swills
a reply to: AugustusMasonicus

I'd agree with a lot if it worked and wasn't in the best interest of the wealthy elites while crushing everyone else.

Constitution clearly states only congress shall coin money and determine the value thereof. But that has been long lost under a mountain of fiat banker currency, as well.

Because it says "coin money", meaning precious metals, not receipts.

originally posted by: AugustusMasonicus

originally posted by: intrptr
Last time I remember anyone talking about disbanding the Federal Reserve was Reagan. They tried to kill him, too. They did kill Kennedy, Lincoln, etc.

None of the Presidents you mentioned tried to end the Federal Reserve.

They all spoke out against a central bank. (Its in the link)

a reply to: intrptr

I think "coining" in this context means creating currency, not just stamping metal coins.

a reply to: intrptr

I am not hear to educate you on how the Treasury, the Federal Reserve and the Congress interact. Stick with your awesome bushstole04 website filled with chestnuts of economic wisdom.

originally posted by: intrptr
They all spoke out against a central bank. (Its in the link)

Your link is garbage and filled with conspiracy woo.

a reply to: AugustusMasonicus

Stick with your awesome bushstole04 website filled with chestnuts of economic wisdom.

Yu mean chestnuts are now coin of the realm? Jeez, I thought EFT was the new tangible asset?

Who needs precious metal with intrinsic value anyway? Just the biggest banks on the planet. Their basements are full of it.

All Hail Cesar and the status quo...

originally posted by: intrptr
Who needs precious metal with intrinsic value anyway? Just the biggest banks on the planet. Their basements are full of it.

And there is not enough of it to cover a fraction of the currency in circulation.

How come Bushstol04 did not tell you this?

originally posted by: Vroomfondel
a reply to: intrptr

I think "coining" in this context means creating currency, not just stamping metal coins.

Wrong. They said 'coin' for a reason. Original denominations were in ounces of Gold, silver and copper.

Do you know what an once of gold is worth today? Thats how coin money kept up (keeps up) with inflation. That was the intent.

a reply to: AugustusMasonicus

They made everyone turn in their gold in 33 when they founded the federal reserve, established Fort Knox, etc.

It was called the 'New Deal'.

originally posted by: intrptr
They made everyone turn in their gold in 33 when they founded the federal reserve...

Hey genius, the Federal Reserve dates to 1913.

It was called the 'New Deal'.

Just keep on making things up, it really gives you the air of someone who knows what they are talking about.