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originally posted by: anonentity
a reply to: nwtrucker
Well what are they going to do when the Yuan is gold backed, Russia will get paid for oil and gas in Yuan and then exchange it for gold at the Shanghei gold exchange.China will back trade with a gold backed rouble. The light crude that America gets out of the ground, has to be mixed with the thicker Arabian crude. Since they are dealing in gold backed curencies whats America going to trade with?
originally posted by: olaru12
Trump proposes returning to the gold standard.
Never happen and Trump knows it. Typical transparent pandering to the far right isolationist. Trump proposes BS all the time that will never happen but it keeps his base happy, pissing on their leg and telling them it's raining.
It will be the Chinese that adopt the gold standard. Hide and watch....
originally posted by: dragonridr
Trump is just throwing it out there he knows the US can't go on to gold standard. He said this during his presidential campaign.
“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.“
originally posted by: nwtrucker
a reply to: enlightenedservant
So based on that, you prefer the system stay as it is?
there's more powerful people than you who want to keep on robbing the country and it's citizenry, as well as many other countries.
originally posted by: howtonhawky
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.
Someone can just make more gold when needed.
This is a pipe dream thread right?
originally posted by: Krazysh0t
a reply to: nwtrucker
1) The gold standard puts power in control of the people who own gold mines. (if you don't see the problem with this, then look at the problems we have with securing oil in the Middle East to see how problems with this can arise).
2) A gold standard can only cover a monetary supply as long as the monetary supply is less than the amount of gold in the reserves. If Iceland can pull it off it is likely because their debt is only $10.837 million. The US' national debt is damn near $20 trillion.
3) There isn't much to stop banks from over leveraging their gold.
4) When banks over leverage their gold, it makes recessions much worse as bank runs put tons of banks out of business.
Gold standards are a decent idea for countries with a smaller economy, but our economy is just too large to implement such a thing.
originally posted by: andy06shake
a reply to: tadaman
Killing the current POTUS could quite possibly be considered an act of mercy to the rest of the world.
Because the needs of that particular Muppet sure don't outweigh the needs of the many.
End of the day through it's all just window dressing for our masses.