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Originally posted by tjeffersonsghost
Indianapolis, Indiana -- State Senator Greg Walker of District 41, (R-Columbus), has officially filed a Bill
that would allow Indiana to offer its citizens a choice of Gold (and Silver) coin or the Electronic equivalent
in payable and receivable transactions with the state.
Originally posted by ANNED
do you really believe that the gold stored in fort knox is really there.
they have not let any non government auditer in there in more then 50 years to check on it being there.
Originally posted by mrsdudara
There is no way this will go through
The value of something is determined by what someone else is willing to pay for it.
Personally, I dont give a darn about gold. I really dont know any one who does. I understand that all a long, gold and precious metals have been considered valuable.
That was only because the big dogs wanted it, and were willing to do just about anything to get it.
That is no longer the case.
Sparkly, shiny metals were a fad. Granted it lasted a long time, but a fad none the less.
When people stop wanting something, it no longer holds value.
Our money stopped being backed by gold a long time ago. I believe it is now backed by energy. It is the only thing anymore that truely has value. A person would do more than they are willing to say, in order to keep their electricity on, and their cars running.
NOW, if that state could figure out how to OPENLY come up with a financial system totaly backed by energy.......that is something to think about.
Originally posted by ANNED
The big problem is there is not enough gold in the vaults in the US to back the deal.
Great idea as it would need the mining of a lot of new gold.
This would put a lot of my friends back to work.
Since we have only mined 1/10 0f one % of the recoverable gold in the US this would also put a lot of people back to work mining gold.
It would also raise the price of gold to more then $2000 a ounce.
this will also drive the treehuggers nuts trying to stop the mining.
[edit on 15-1-2009 by ANNED]
Originally posted by csulli456
Everybody should be paid in Beamers, hoes and reefer.
But seriously, we`re screwed either way.
With or without the standard.
Corporate monopolization of society and government has to end.
Means crooks all got to go.
Too many of them.
Need some Real Untouchables to start a proper reform.
Lets give Mr. Obama a chance.
I have some faith he understands the whole Federal Reserve issue.
He speaks highly of President Kennedy.
I think we may have some hope of shining more and brighter lights on the real issues as time goes on.
Keep this going.
The total amount of gold that has ever been mined has been estimated at around 142,000 tonnes. Assuming a gold price of US$1,000 per ounce, or $32,500 per kilogram, the total value of all the gold ever mined would be around $4.5 trillion. This is less than the value of circulating money in the U.S. alone, where more than $7.6 trillion is in circulation or in deposit (although international banking currently practices fractional reserves).
Originally posted by burdman30ott6
reply to post by Alpha_Magnum
I'd personally love to know how many of those tons are inside the Vatican. (and no, this isn't a hit on Catholicism. Just an honest curiosity question.)