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Trump proposes returning to the gold standard.

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posted on Mar, 14 2018 @ 12:55 PM
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originally posted by: sligtlyskeptical
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.


The only way that confiscatory policy would have any hope of success is if every developed nation on the planet also adopted the same policy because it would cripple the nation that enacted that unilaterally.




posted on Mar, 14 2018 @ 12:56 PM
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originally posted by: UnBreakable
Exactly. Was just going to reply with the same.


Same question then, what President was that?



posted on Mar, 14 2018 @ 12:57 PM
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originally posted by: Krazysh0t

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.

And 90% of the country lives in abject poverty since gold supplies aren't high enough to convert the current monetary supply into a $1-for-$1 conversation.


Doesn't have to be $1 to $1. It can be any arbitrary amount. Your post is confusing. Seeing your 90% are in poverty are you saying leave it as it is?

What point are you trying to make?



posted on Mar, 14 2018 @ 12:58 PM
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originally posted by: ScepticScot

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.


And you are OK with the government hoarding vast supply's of these in order to do so?


Yup. As long as it doesn't create a vast shortage or better yet the government can invent a technology that can create these rare metals.

It can be done if you get the best scientists and engineers to work on such a project. If they can reverse engineer a UFO, they can build this.
edit on 14-3-2018 by WarPig1939 because: (no reason given)



posted on Mar, 14 2018 @ 01:00 PM
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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.



Most American debt is owned by Americans. If you were to cancel it out or the government would just refuse to pay it, then it would be directly responsible for bankrupting its own people. This is something that would happen if we went to the gold standard like the OP wants too.



posted on Mar, 14 2018 @ 01:00 PM
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originally posted by: nwtrucker

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.


Statist or merely stability? I seem to recall when gold was fixed at 35 dollars an ounce. Things seemed fine then, IIRC.


What apart from, the great depression and the collapse of international convertibility in the 70s?



posted on Mar, 14 2018 @ 01:01 PM
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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.

You understand nothing about economic history. When happened in the past is that banks would lend WELL past their gold reserves then when the economy started to contract, bank runs would happen of people trying to pull all the gold out of the bank and then the bank would go out of business.



posted on Mar, 14 2018 @ 01:01 PM
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originally posted by: WarPig1939

originally posted by: ScepticScot

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.


And you are OK with the government hoarding vast supply's of these in order to do so?


Yup. As long as it doesn't create a vast shortage or better yet the government can invent a technology that can create these rare metals.

It can be done if you get the best scientists and engineers to work on such a project. If they can reverse engineer a UFO, they can build this.


So tie your currency to a non finite resource? How exactly does that change things?



posted on Mar, 14 2018 @ 01:02 PM
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originally posted by: nwtrucker

originally posted by: Krazysh0t

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.

And 90% of the country lives in abject poverty since gold supplies aren't high enough to convert the current monetary supply into a $1-for-$1 conversation.


Doesn't have to be $1 to $1. It can be any arbitrary amount. Your post is confusing. Seeing your 90% are in poverty are you saying leave it as it is?

What point are you trying to make?

90% of our country is NOT in poverty. That argument is dumb.



posted on Mar, 14 2018 @ 01:04 PM
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originally posted by: WarPig1939

originally posted by: ScepticScot

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.


And you are OK with the government hoarding vast supply's of these in order to do so?


Yup. As long as it doesn't create a vast shortage or better yet the government can invent a technology that can create these rare metals.

It can be done if you get the best scientists and engineers to work on such a project. If they can reverse engineer a UFO, they can build this.

Um... That's essentially printing money.



posted on Mar, 14 2018 @ 01:05 PM
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a reply to: Krazysh0t

??? The debt is still there. The amount owed is still there. The value of each has been changed. Nothing else...except perhaps the possibility of hyper-inflation.

The only thing that changes is the ability to manipulate, print or otherwise mess with it. At the least, it minimizes it.



posted on Mar, 14 2018 @ 01:06 PM
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originally posted by: ScepticScot

originally posted by: WarPig1939

originally posted by: ScepticScot

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.


And you are OK with the government hoarding vast supply's of these in order to do so?


Yup. As long as it doesn't create a vast shortage or better yet the government can invent a technology that can create these rare metals.

It can be done if you get the best scientists and engineers to work on such a project. If they can reverse engineer a UFO, they can build this.


So tie your currency to a non finite resource? How exactly does that change things?


If no one else knows about it. That's how it would change things. Since that isn't a realistic option right now, backing currency with something of value is the key focus. I don't know what that would be if this "gold standard initiative" becomes a focus for the POTUS



posted on Mar, 14 2018 @ 01:07 PM
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originally posted by: AugustusMasonicus

originally posted by: sligtlyskeptical
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.


The only way that confiscatory policy would have any hope of success is if every developed nation on the planet also adopted the same policy because it would cripple the nation that enacted that unilaterally.


I think any nation who did not go along would see their currency become worthless in short order, so we would have unilateral support. We would also have to give some poorer countries some gold to get the system started.



posted on Mar, 14 2018 @ 01:07 PM
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a reply to: WarPig1939

What is ALL money based on at its lowest level???

The ability to spend that money in its country of origin.

That’s it. Nothing else ..


How did America become the most powerful country on the planet, with everyone using the dollar???


It started during WW1 , but imho hit the tipping point after/during WW2.

After those 2 wars the US was the last first world inferstructure left standing.


So at that time it was no question the best place to live and/or spend your money.


So if you want to keep your currency relevant you have to make sure your country has the best inferstructure and standard of living.

We stopped caring about inferstructure and standards of living..




The more poor people , crime and questionable inferstructure you have, the less people and businesses will want to come here..

Why come to America and use dial up, when you could put your company in Sweden and have 17g???

As long as America remained the best place to live, the american dollar beat the pants off everyone else’s currency.

Now the Nordic countries have taken the mantel of the best place to live and work..

The more people want to come here, the more the dollar is worth.



posted on Mar, 14 2018 @ 01:08 PM
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originally posted by: Krazysh0t

originally posted by: WarPig1939

originally posted by: ScepticScot

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.


And you are OK with the government hoarding vast supply's of these in order to do so?


Yup. As long as it doesn't create a vast shortage or better yet the government can invent a technology that can create these rare metals.

It can be done if you get the best scientists and engineers to work on such a project. If they can reverse engineer a UFO, they can build this.

Um... That's essentially printing money.


If it remained Classified, it's not printing money. It would be manipulation at that point which would still be a concern.
edit on 14-3-2018 by WarPig1939 because: (no reason given)



posted on Mar, 14 2018 @ 01:08 PM
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originally posted by: Krazysh0t

originally posted by: WarPig1939

originally posted by: ScepticScot

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.


And you are OK with the government hoarding vast supply's of these in order to do so?


Yup. As long as it doesn't create a vast shortage or better yet the government can invent a technology that can create these rare metals.

It can be done if you get the best scientists and engineers to work on such a project. If they can reverse engineer a UFO, they can build this.

Um... That's essentially printing money.


No its completely different.

In one case the government can increase monetary base by pressing button on a computer.

In the other they can increase monetary base by pressing button on a machine that makes something shiny.

It's the shininess that gives money value obviously.



posted on Mar, 14 2018 @ 01:10 PM
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originally posted by: JoshuaCox
a reply to: WarPig1939

What is ALL money based on at its lowest level???

The ability to spend that money in its country of origin.

That’s it. Nothing else ..


How did America become the most powerful country on the planet, with everyone using the dollar???


It started during WW1 , but imho hit the tipping point after/during WW2.

After those 2 wars the US was the last first world inferstructure left standing.


So at that time it was no question the best place to live and/or spend your money.


So if you want to keep your currency relevant you have to make sure your country has the best inferstructure and standard of living.

We stopped caring about inferstructure and standards of living..




The more poor people , crime and questionable inferstructure you have, the less people and businesses will want to come here..

Why come to America and use dial up, when you could put your company in Sweden and have 17g???

As long as America remained the best place to live, the american dollar beat the pants off everyone else’s currency.

Now the Nordic countries have taken the mantel of the best place to live and work..

The more people want to come here, the more the dollar is worth.



Good point. Make America more appealing to the world by fixing the standards of living and infrastructure
edit on 14-3-2018 by WarPig1939 because: (no reason given)



posted on Mar, 14 2018 @ 01:11 PM
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originally posted by: Krazysh0t

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.



Most American debt is owned by Americans. If you were to cancel it out or the government would just refuse to pay it, then it would be directly responsible for bankrupting its own people. This is something that would happen if we went to the gold standard like the OP wants too.


Um no it wouldn't. Debts would be paid with the new currency. After all since we are killing fractional reserve banking at the same time, there would be a huge void of currency left to run the economy.



posted on Mar, 14 2018 @ 01:11 PM
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originally posted by: JoshuaCox
a reply to: nwtrucker

What an idiot...

There isn’t enough gold on the planet to return to the gold standard..


Gold isn’t even functionally any more valuable than some super complicated paper money..

Plus half the reason we are a super power is that opec only accepts american dollars..


Trumps an idiot..


Your post makes it obvious you don't understand the gold standard.



posted on Mar, 14 2018 @ 01:11 PM
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originally posted by: sligtlyskeptical

originally posted by: AugustusMasonicus

originally posted by: sligtlyskeptical
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.


The only way that confiscatory policy would have any hope of success is if every developed nation on the planet also adopted the same policy because it would cripple the nation that enacted that unilaterally.


I think any nation who did not go along would see their currency become worthless in short order, so we would have unilateral support. We would also have to give some poorer countries some gold to get the system started.


The comparative advantage is for countries that are not on a gold standard.

The US runs a huge trade deficit, it would run out of gold in months.



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