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

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posted on Dec, 5 2016 @ 09:51 PM
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originally posted by: ManBehindTheMask

Ummm thats not how it works anyway........

It would still function the same only currencies, whether its paper, bits and bites or not, would be backed by gold ......

Im amazed how people dont understand how this works........


Me thinks you forget that's exactly how the problems started.

Once you're not dealing in physical gold, but accepting "substitutes" for that gold, the substitutes themselves will always grow and multiply faster than the physical gold. There's no way to know whether the substitute you have in your hand, has any real gold backing it. It comes right back to "faith".




posted on Dec, 5 2016 @ 09:52 PM
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a reply to: AugustusMasonicus

Okay mate. And yes, you're right. This isn't the right thread. All good bro.



posted on Dec, 5 2016 @ 09:54 PM
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Just keep in mind when Nixon killed the gold standard of $35/oz that minimum wage was worth about 2.25 oz a week based on 40 hours.

This is how far the fiat Federal Reserve Note has been ravaged by inflation over the past 40 some years. Even Carter's double digit inflation rates on mortgages was a reflection of that instant inflation.

And thanks to round the clock printing efforts of quantitative easing and no requirement to report we have no true idea of is out there in physical FRN dollars. Last know was around $3.4 Trillion, I think but that was several years ago. Those notes would have to either be honored face value or have dated exchange ratio point if we opt for a new currency.

The transition would be rough, but having a solid reliable currency is key to true stable economic reform that Trump wants and the US needs. After all it was the $25/oz that fixed the dollar as the world's reserve currency and prevented a return to the Worlwide Great Depression after WW2 ended.



posted on Dec, 5 2016 @ 10:33 PM
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a reply to: Wide-Eyes

It was VERY shortly after Kennedy began touting his goal of ridding the US of Fed that he was assassinated... that's why I say I wouldn't be announcing that as one of my goals until ALL my "T's" were crossed, "i's" dotted and it was at the very LAST minute that I'd announce it to avoid possible death. We will see I guess....



posted on Dec, 5 2016 @ 10:50 PM
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originally posted by: xuenchen
One of Trump's picks for Treasury Secretary has mentioned implementing a gold standard.



 



the only way the USA could possibly implement any percentage of a Gold Standard is to 'lease' around several 1000s of tonnes of Gold from China... ~Assets to back the international (greenback) USD ...


and to let the stand-alone Domestic Dollar seek it's own faithful following of an economy trusting in Fiat money for all internal goods-services (good luck with that ! )


in this particular arrangement, China would 'lease' gold to the US Treasury but retain physical control of the tonnes of bullion.... seeing how the USA operated in acquiring the Gold which was once secured in foreign gold vaults over the past 50 years (since 1971)








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posted on Dec, 6 2016 @ 12:20 AM
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originally posted by: Metallicus





WTF is gold?

What the hell is the difference between fiat currency and rocks? Let's start a space race so we can find some gold in the cosmos and destroy our economy.

Small minds at work.






You are completely clueless when it comes to economics and our monetary system. I have two separate business degrees including a Master's degree in finance and I can tell you this is a GREAT idea and would solidify our economy. Now, the realist in me believes this will never be allowed to happen because it would destroy the international bankers and their control over the U.S. economy.


The international bankers hold all the gold. Why do you think the price of gold is so high?

The elite are speculating and hoping for a gold standard. Those who hold all the gold will essentially control the value of your currency.

Your business decrees are worthless. This is a math problem and you obviously don't understand the equation.

Replacing the Federal Reserve Notes with a publicly owned fiat currency while eliminating private banking is all that is necessary.

This change would keep the power and value of the currency in the hands of the people while eliminating inflation, something the gold standard won't do.


edit on 6-12-2016 by Isurrender73 because: (no reason given)



posted on Dec, 6 2016 @ 01:06 AM
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100%-reserve gold standard was what it use to be but there is no longer enough gold held by the US government to even run a 10% reserve gold standard.

But that is only the government.
There is enough mine-able in the US to bring it back up to a 100%-reserve gold standard.

BUT the US government would have to let companies mine it.
And the treehuggers would have a fit if the US government did allow full scale gold mining.
States like calif are trying to go mine free and shout down anyone trying to mine.

I know because i was one of those gold miners in calif that were forced out of business by the state.



posted on Dec, 6 2016 @ 01:36 AM
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And an ordinary person is going to do what with Gold? Why not back it against Drinking Water?

The most valuable part of gold is that it can be sold back into a market. If there wasn't another market, it'd be useless.



posted on Dec, 6 2016 @ 02:01 AM
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a reply to: xuenchen

With gold and silver leverage as overshot as it is now, the
new administration will become grossly unpopular overnight.
I wonder whatever became of that British silver trader,
Andrew MacGuire?

I can remember Czar Nicolas II telling the Rothschilds to bite
him--almost exactly 100 years ago. It went badly for him and the
whole clan besides... because they took him up on it.

I think that guy with the little mustache tried the same thing
as well.. the Deutschmark was the main reason Germany had to
be punished. If Sir Winston said it in his memoirs I tend to
give it some traction. I believe they're all STILL paying for it.

They really are right about "Follow the Money".. Theirs Or Else.
I'm starting to get a bad feeling about how this is all working.



posted on Dec, 6 2016 @ 06:23 AM
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originally posted by: Wide-Eyes
Okay mate. And yes, you're right. This isn't the right thread. All good bro.


Here is the thread in question.

I encourage you to read his sources as well and if you feel ambitious his other threads on Kennedy.



posted on Dec, 6 2016 @ 07:00 AM
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originally posted by: Rubicon3
It was VERY shortly after Kennedy began touting his goal of ridding the US of Fed that he was assassinated...


How about a link or two with Kennedy quotes to this alleged goal?



posted on Dec, 6 2016 @ 08:06 AM
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originally posted by: Isurrender73
a reply to: xuenchen
What the hell is the difference between fiat currency and rocks? Let's start a space race so we can find some gold in the cosmos and destroy our economy.



The difference is.. fiat currency isn't tied to anything other than perceived value, and thus, economists and government officials like to tell us "infinite growth is possible" (which it is not).

When you peg a currency to a real-world substance like precious metals, the limitations of that substance also limit how much money can be out there. The problem in our current system is that they keep creating money that isn't actually tied to anything real and when you flood the money supply its value cannot be maintained.



posted on Dec, 6 2016 @ 08:49 AM
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a reply to: AMPTAH


Gold is too heavy.

That what the bankers say. Here its so heavy, let us hold it for you, heres a 'receipt'. The first fiat currency.

Oh by the way, if theres a crash we keep your gold... sorry about that.

Their vaults are full of gold, its the only way they do business wth each other. You, you have paper.

Or "bits"...



posted on Dec, 6 2016 @ 08:56 AM
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a reply to: AugustusMasonicus


I am fine with my status quo, I don't get my ass handed to me in debates.

Your method of 'handing peoples asses to them' is nitpicking on some mistake, then insulting just under the TnC radar.


edit on 6-12-2016 by intrptr because: change



posted on Dec, 6 2016 @ 09:00 AM
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a reply to: xuenchen

A gold standard now would still be just as manipulable. Instead of your $100 being worth $100 of "whatever", it would be worth $100 of "whatever or gold."

Unless $100 was set to a specific amount of gold for all time, the value would still be changeable. Either way, it would disengage the value of money further from economic reality.



posted on Dec, 6 2016 @ 09:07 AM
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originally posted by: ANNED
100%-reserve gold standard was what it use to be but there is no longer enough gold held by the US government to even run a 10% reserve gold standard.
...



It doesn't matter how much gold the US government has. If there's 100 gold bricks, they can make each brick worth $10T, and voilá! - you have $1 Quadrillion of gold backed currency. Or make each one worth $10 Quadrillion, suddenly you have $1 Quintillion (1000x, 1000x $1 Trillion) Suddenly, the gold is worth a ton of dollars, but it takes a wheelbarrow full of dollars to equal a slice of bread.



posted on Dec, 6 2016 @ 09:12 AM
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originally posted by: intrptr
Your method of 'handing peoples asses to them' is nitpicking on some mistake, then insulting just under the TnC radar.


If you do not want your mistakes pointed out in a thread try educating yourself prior to making your banal pronouncements.



posted on Dec, 6 2016 @ 11:19 AM
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a reply to: FamCore

The value of gold can be manipulated until there is an infinite amount of perceived value in gold. Which is inflationary like I mentioned earlier. Gold does not eliminate this problem like you imagine.

The problem you speak of has nothing to do with fiat currency. Any banking system that allows Usury is inflationary by nature, therefore more money must constantly be printed. The value of Gold would simply be adjusted to cover the more that is necessary do to Usury.

By eliminating private banking and putting banking in the hands of the citizens we will be able to eliminate usury.

In a stable system the amount of money in circulation would be determined by population. Using population to determine the monetary supply eliminates inflation and allows prices to be subject only to supply and demand.


edit on 6-12-2016 by Isurrender73 because: (no reason given)



posted on Dec, 6 2016 @ 12:26 PM
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he can imply anything he wants, but there's zero chance it happens. It simply can't happen. Well, I suppose if you want to watch the world burn, then that's a pretty fool proof way to destroy the world economy. Welcome to every country instantly becoming a third world nation.



posted on Dec, 6 2016 @ 04:13 PM
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originally posted by: AugustusMasonicus

originally posted by: intrptr
Your method of 'handing peoples asses to them' is nitpicking on some mistake, then insulting just under the TnC radar.


If you do not want your mistakes pointed out in a thread try educating yourself prior to making your banal pronouncements.

I don't have a problem with mistakes being 'pointed out'. Thats not what you do. An honest mistake about the date the fed reserve was formed got turned into "making things up", i.e., 'lying'. You call that "handing my ass to me".

Thats not "debate", but you already know that.




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