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Trump proposes returning to the gold standard.

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posted on Mar, 14 2018 @ 04:06 PM
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originally posted by: eNumbra
What happened to the last president who wanted to return to the Gold standard...


You talking about JFK?




posted on Mar, 14 2018 @ 04:06 PM
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a reply to: andy06shake

Make no mistake, if they kill another president then the peace they promised was a lie.

If thats true, NONE will know peace until our generation is completely dead in spirit...

Trump is good because he is not supposed to be there. Thats why there has been ANY progress in curbing corruption and addressing the elephant in the room of a secondary government lacking morals or scruples that is operating outside of the law. /not protected by it.

There are no Ruskies or Arabs to blame anymore. School shootings can easily become mass public servant executions and violent political throwback.

The gods have died for lies and today we are all but men.

edit on 3 14 2018 by tadaman because: (no reason given)



posted on Mar, 14 2018 @ 04:08 PM
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originally posted by: enlightenedservant

originally posted by: nwtrucker
a reply to: enlightenedservant

So based on that, you prefer the system stay as it is?


Compared to the gold standard? Hell yeah! Like I already pointed out, it became illegal for US citizens to possess and trade gold after 1934. Only the international govts, international organizations like sovereign funds, and large domestic institutional investors like Wall Street firms and bankers could even convert gold to USD and vice versa.

And did you miss the part in my link where the federal govt seized the titles of gold and gold certificates and transferred them all to the Treasury? And also the part where global powerbrokers had placed a $20.67 per ounce price cap on gold for more than a century? And then the part where Congress set the price at a measly $35 then our central bankers forced our allies to give up their gold in exchange for our USDs?

When you hear about countries like Hungary, Germany, and Austria trying to repatriate their gold from the US and London's central banks, why do you think our central banks have their gold in the first place? That's the gold standard in practice. It astounds me how people can rail against "the powers that be", globalists, central bankers, and all that stuff, then turn around and advocate for a system that benefited those groups even more than the current system does.

Any citizen who's made a penny speculating from gold prices should absolutely hate the gold standard. And at least in the current system, I can buy, sell, and hoard as much gold as I want. I can travel with it to most countries if I want to easily transfer my wealth somewhere else (like in SHTF moments), though some countries still ban individual ownership of gold just like the US did under the last 35 years or so when we had the gold standard.

What benefits would the gold standard even have for normal citizens above what we already have?


So the debt doesn't concern you? So you couldn't save/ hoard some other commodity other than gold if it was necessary? Your convenience is more important than 'some' form of a saner system than increasing our debt load by printing/issuing at a non-stop rate? I truly don't get it.



posted on Mar, 14 2018 @ 04:11 PM
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originally posted by: enlightenedservant

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?


You mean like melting down a bar of gold, dividing it into 4 equal parts, and then using each part to completely encase a smaller bar of tungsten, thus turning one bar of gold into 4 bars of "gold"?


ETA: For those who don't know, I'm referring to incidences like this (HERE).


lol
also i remember something bout some tunnels used in nyc between banks to move gold around to show investors.

it was said but unverified that this was caused by a shortage of bars. So they just moved one stockpile from bank vault to bank vault all underground away from prying eyes.




posted on Mar, 14 2018 @ 04:15 PM
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a reply to: tadaman

When has there ever been peace in our lifetime?

One war after another in an endless cycle of rinse and repeat really.


The fact of the matter is that our respective military industrial complex requires such to function, remain in the shadow and wag our political tails.

God has been dead since Man anthropomorphized such in our holy books, or if not dead then no longer necessary to requirements.



posted on Mar, 14 2018 @ 04:17 PM
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a reply to: Krazysh0t

Just another thought. Per your numbers the total value of the current gold is about 7.5 Trillion with a national debt of 20 Trillion, so the numbers don't add up.

OK. So having 7.5 trillion backing your 20 trillion debt isn't better than having nothing backing that 20 trillion debt?



posted on Mar, 14 2018 @ 04:24 PM
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a reply to: nwtrucker

I do indeed but i would say the same regarding our own unelected Prime minister.


Not to mention quite a few others in our ruling class system and political establishment.

I mean it's not like "They" don't have blood on their hands.



posted on Mar, 14 2018 @ 04:25 PM
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originally posted by: Krazysh0t
a reply to: nwtrucker

Near failure? According to what metric? The stock market is still near its all time high. It may be down recently, but there aren't any signs that we are in danger of a recession starting in the near future.


The monies tied up in the stock market can be transfered to other currencies. The 'metric' is the national debt.



posted on Mar, 14 2018 @ 04:27 PM
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The gold standard is a myth. Money has no intrinsic value and has always represented credit and only credit.



posted on Mar, 14 2018 @ 04:31 PM
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a reply to: andy06shake

The peace is running water we dont own, electricity as long as we pay for it, and the stock market wont tank....to name a few of the items held over our heads as a package of peace.

The stock market DOES dip according to whims, we are getting enemies on our shores, we arent wealthier, we arent even able to have ONE election that we may actually be represented without a fight.

What peace. Good point. Why are we keeping the order again?


edit on 3 14 2018 by tadaman because: (no reason given)



posted on Mar, 14 2018 @ 04:34 PM
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a reply to: howtonhawky

Ethiopia's central bank ended up having some gold plated "gold" bars in its vaults. It was discovered when some of the fake gold was used in a deal with South Africa's central bank, which rejected the fake gold after an audit. More fake gold was found in the Ethiopian vaults and at least 26 people were arrested for it according to this link (HERE).

And according to that link, it wasn't even the first time that fake gold bar scandals happened there (though it doesn't specify if the others involved the central bank).



posted on Mar, 14 2018 @ 04:43 PM
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originally posted by: nwtrucker

originally posted by: enlightenedservant

originally posted by: nwtrucker
a reply to: enlightenedservant

So based on that, you prefer the system stay as it is?


Compared to the gold standard? Hell yeah! Like I already pointed out, it became illegal for US citizens to possess and trade gold after 1934. Only the international govts, international organizations like sovereign funds, and large domestic institutional investors like Wall Street firms and bankers could even convert gold to USD and vice versa.

And did you miss the part in my link where the federal govt seized the titles of gold and gold certificates and transferred them all to the Treasury? And also the part where global powerbrokers had placed a $20.67 per ounce price cap on gold for more than a century? And then the part where Congress set the price at a measly $35 then our central bankers forced our allies to give up their gold in exchange for our USDs?

When you hear about countries like Hungary, Germany, and Austria trying to repatriate their gold from the US and London's central banks, why do you think our central banks have their gold in the first place? That's the gold standard in practice. It astounds me how people can rail against "the powers that be", globalists, central bankers, and all that stuff, then turn around and advocate for a system that benefited those groups even more than the current system does.

Any citizen who's made a penny speculating from gold prices should absolutely hate the gold standard. And at least in the current system, I can buy, sell, and hoard as much gold as I want. I can travel with it to most countries if I want to easily transfer my wealth somewhere else (like in SHTF moments), though some countries still ban individual ownership of gold just like the US did under the last 35 years or so when we had the gold standard.

What benefits would the gold standard even have for normal citizens above what we already have?


So the debt doesn't concern you? So you couldn't save/ hoard some other commodity other than gold if it was necessary? Your convenience is more important than 'some' form of a saner system than increasing our debt load by printing/issuing at a non-stop rate? I truly don't get it.


Think your position through for a second. Why should I give a crap about the federal debt when the people who make our laws don't care about it? Pres Clinton & Congress passed a budget that had a surplus during his last few years in office, but the Bush administration immediately reversed it back into deficits after 9/11. And both the Obama administration and the Trump administration have continued increasing our federal debt ever since.

In other words, neither party that actually has or will have power in the US gives a crap about paying off the national debt. If you really think they do, then you don't understand the debt at all. Investors love US federal debt and if you own a money market account or have a 401k, then you're one of those investors. Even govt agencies like Social Security invest their assets in federal debt because the interest rates increase the value of those assets so they have more to disperse later.

Also, this comment of yours raises an important issue:


So you couldn't save/ hoard some other commodity other than gold if it was necessary?

Are you implying that you would be ok with the federal government confiscating gold from US citizens?



posted on Mar, 14 2018 @ 04:45 PM
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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.
There would be if we get back what was "Stolen"!!! I'm all for it!! Donald, I'm at your service!



posted on Mar, 14 2018 @ 04:56 PM
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Don't think it has to do anything with physical gold, but to take the USD currency control from the "Deep State" Federal reserve bank.



posted on Mar, 14 2018 @ 05:00 PM
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originally posted by: manuelram16
Don't think it has to do anything with physical gold, but to take the USD currency control from the "Deep State" Federal reserve bank.

The central bankers controlled the money supply during the gold standard, too. In fact, other governments sent their gold to the central bankers' vaults in London in order to obtain British pounds & they sent it to US central banks' vaults in order to obtain US Dollars.



posted on Mar, 14 2018 @ 05:01 PM
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originally posted by: dragonridr

originally posted by: Krazysh0t

originally posted by: sligtlyskeptical

originally posted by: Krazysh0t

originally posted by: nwtrucker
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.


You should do the math. It really kills your theory.

They've estimated that we've only mined about 187,200 tonnes of the stuff at about $40.2 million per tonne. So 187,200 * $40.2 million = $7.5 trillion. A number that you'll notice doesn't even cover half the current American debt. If we switched to the gold standard, you can bet that quite a few people would lose quite a bit of their wealth and have a high chance of going bankrupt. I imagine it would also crash our economy worse than even the 1930's as the country's monetary supply would shrink DRASTICALLY.

These, "switch to the gold standard" arguments never analyze the nuance of such a thing. Hell, just do some math and you'll see why this idea is impractical. If we want to improve our monetary supply, we should work on NEW monetary systems, not revert to proven failed systems.


And if the price was fixed at $400 million per tonne we would have $75 trillion worth of gold backed money.

That's a big if. Gold prices are set worldwide. If we set our gold prices too high, who is going to buy gold from us? They'd just go to a foreign source since it is far cheaper. There is this thing called supply and demand and it happens to work on an international level too.



Exactly to cover us debt would require gold prices to be 35000 per ounce. And no one is going to ever pay that for gold.

Why not? There were fools and their money paying $20,000 per bitcoin, and those are simple electrons of binary code. People do not have to buy an ounce. There are fractionals as low as a third of a gram of gold, just like regular folk were able to buy 1/100 or even 1/1000 of a bitcoin.

Back in the day, whether we are talking western frontier NA, or antiquity Byzantium, most people who traded or paid for stuff with gold used only grams at a time. Silver the same thing. No reason we could not go back to the same crap. Wealth transfers right?? It would simply mean those who stored their wealth as a real asset and not some virtual electrons would be getting the wealth hoarded by those who kept their alleged wealth in fictitious vaults where there are not even enough paper notes to cover everybody's alleged wealth. Inflation would be a mother, and we would be paying probably hundreds of dollars per burger the way the Japanese do with their Yen.

I think it is quite doable.



posted on Mar, 14 2018 @ 05:41 PM
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a reply to: nwtrucker


The American economy is a managed illusion, its debt that has kept it going for this long. At the moment its running at twenty trillion, the interest on this can never be paid. If interest rates go up, marginal businesses fail and unemployment increase. Interest rates in the western world are near zero because their is no real growth to produce a profit.
The stock market is the only casino that is keeping it together, if the stock market falls all the money removed literally has nowhere to go, except into P.M's That's why JP Morgan Russia and China are hoarding gold. Simply because when a Fiat system dies, the only thing people trust is Gold and silver. Everything else is baloney, and anyone who matters knows it.



posted on Mar, 14 2018 @ 07:19 PM
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originally posted by: enlightenedservant

originally posted by: manuelram16
Don't think it has to do anything with physical gold, but to take the USD currency control from the "Deep State" Federal reserve bank.

The central bankers controlled the money supply during the gold standard, too. In fact, other governments sent their gold to the central bankers' vaults in London in order to obtain British pounds & they sent it to US central banks' vaults in order to obtain US Dollars.

Uhhh...
There is a difference between the country owned Central Banks and the IMF ran "Globally Connected Central Banks"
Would behoove you to make that distinction.



posted on Mar, 14 2018 @ 07:28 PM
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originally posted by: Gothmog

originally posted by: enlightenedservant

originally posted by: manuelram16
Don't think it has to do anything with physical gold, but to take the USD currency control from the "Deep State" Federal reserve bank.

The central bankers controlled the money supply during the gold standard, too. In fact, other governments sent their gold to the central bankers' vaults in London in order to obtain British pounds & they sent it to US central banks' vaults in order to obtain US Dollars.

Uhhh...
There is a difference between the country owned Central Banks and the IMF ran "Globally Connected Central Banks"
Would behoove you to make that distinction.


(facepalm) The IMF was created in concept at the Bretton Woods meetings that I mentioned, and created in practice the next year. It's purpose was literally to be an instrument to help implement the things I mentioned. ETA: And before you ask, the World Bank was also created in concept at those Bretton Woods meetings and then created in practice the following year. They're both 2 of the instruments in the scheme that I previously mentioned.
edit on 14-3-2018 by enlightenedservant because: (no reason given)



posted on Mar, 14 2018 @ 07:56 PM
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A return to gold would probably cause deflation which would make your money worth more over time but it would also make your debts seem larger. I’d rather see some inflation at least until my student loans are paid off. Once the quantitative easing money in the bond market starts trickling into circulation we’ll probably see a fair bit of inflation. I believe that is why potus is trying to get the economy growing and raise gdp. With good growth inflation will just make debts easier to pay as wages increase. If he suggested gold standard seriously then there is no way he meant immediately- but after some period of strong growth could work and be very stabilizing for a while.

a reply to: nwtrucker




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