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originally posted by: nwtrucker
a reply to: JoshuaCox
Wrong. Really wrong. Couldn't be wronger. It contradicts your own post.
The value can be and would be arbitrarily set. An arbitrary value. Not using gold as currency. Using it as a 'standard'.
Set it. Maintain it. Make it law.
originally posted by: JoshuaCox
a reply to: nwtrucker
The whole concept of money is smoke and mirrors..
All that really matters is materials, knowhow and labor.
Plus of course the military might to protect/seize and materials, knowledge or labor you need.
We hVe the biggest military on the planet times 10..
Our debt or deficit is literally irrelevant.
If China asks to cash their debt in , W.E. will NOT be giving them Alaska. We will tell them to kick rocks.
If you loan money to Tony soprano, he only pays you if you feel like it.
originally posted by: TexasTruth
I don't know if a few of these people on this thread are really dumb or paid shills.
Gold standard is what made America what it is or was. Now, we print fake money backed by nothing and when the banks run low they just print more paper crap money. So, when a bank on the gold standard wanted to put out more loans than they could back with gold, they couldn't. They would have to wait and grow revenue or gold. But when it's backed by nothing, they loan freely and collect all the nations wealth through loan revenue. And then you have yourself a 1% untouchable class that we have today.
As a matter of fact we have bitcoin now which is a new way to rob even more. Bit mining is rediculous.
originally posted by: nwtrucker
originally posted by: neo96
There is not enough gold to back the current money supply.
It will not work.
The Gold Standard is never coming back.
Sure there is enough gold to back the money supply. 'X' amount of gold measured by "Y" amount of money. The totals of each are irrelevant. Just some fancy math is required.....
originally posted by: TexasTruth
I don't know if a few of these people on this thread are really dumb or paid shills.
Gold standard is what made America what it is or was. Now, we print fake money backed by nothing and when the banks run low they just print more paper crap money. So, when a bank on the gold standard wanted to put out more loans than they could back with gold, they couldn't. They would have to wait and grow revenue or gold. But when it's backed by nothing, they loan freely and collect all the nations wealth through loan revenue. And then you have yourself a 1% untouchable class that we have today.
As a matter of fact we have bitcoin now which is a new way to rob even more. Bit mining is rediculous.
originally posted by: sligtlyskeptical
originally posted by: nwtrucker
originally posted by: neo96
There is not enough gold to back the current money supply.
It will not work.
The Gold Standard is never coming back.
Sure there is enough gold to back the money supply. 'X' amount of gold measured by "Y" amount of money. The totals of each are irrelevant. Just some fancy math is required.....
Exactly correct. In order to back the currency with gold you just have to fix the price of gold. With every issue of new currency the fixed price of gold goes up to the point where $1 of currency equals $1 in gold. If we don't have enough gold because the bankers have shorted it perpetually, we simply take that amount from any wealth the bankers or those who agreed to sell the gold as part of government retain after the conversion.
originally posted by: ScepticScot
originally posted by: nwtrucker
a reply to: JoshuaCox
Wrong. Really wrong. Couldn't be wronger. It contradicts your own post.
The value can be and would be arbitrarily set. An arbitrary value. Not using gold as currency. Using it as a 'standard'.
Set it. Maintain it. Make it law.
Price controls?
How very statist of you.
originally posted by: WarPig1939
Gold / Silver / Platinum / Diamonds / Copper? So many ways to use a precious metal or rare earth mineral to back currency with. It doesn't have to be only gold.
originally posted by: sligtlyskeptical
Jubilee the debt, eliminate fractional reserve banking, back the currency with gold and fix the price of gold so that each $1 of currency equals $1 worth of gold. Eliminate taxes and fund the government with direct issuance of currency. Live happily ever after.