Gold Standard Returns!!!--Indiana State Senator Files Gold Money Bill!

WOW - I live in Indiana - not a hoosier though - and I thought all we do here is play basketball.....isn't it nice to see someone with some balls and try and do something....anything...that makes common sense....

However...because I live here I should warn ya all that the Indiana legislature is filled with a bunch of morons who rarely get anything done.........it'll be fun to see how the locals embrace this

reply to post by tjeffersonsghost



S and F to you!

It would be awesome if this passed, then other states could do the same thing.

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.

(Emphasis mine)

You're all getting excited over something that is essentially the same as what we currently have, only with less transparency. The US dollar essentially became a fiat currency not when Nixon removed it from the gold standard, but when FDR confiscated all privately held gold. They didn't go banging on the door of people who held gold on paper, only those who held physical, real gold. The poor saps who's gold was in the form of paper certificates claiming a set quantity of gold were just restricted to trading those certificates for "legal tender" (AKA the fiat US dollar).

What do you think the "electronic equivalent" of gold (and silver) means? Suddenly the state of Indiana says to you "OK Mr. Smith, here's your tax refund in the form of an electronic certificate of a half an ounce of gold. You may feel free at any time to trade this certificate for the market rate value of a half an ounce of gold in US dollars to any seller/trader you wish. Enjoy your day!"

I understand that it looks really nice on first glance, all soft, and white, and wooly... but look under the skin and notice the same damn wolf we've been dealing with in this nation for generations.

I had heard somewhere that they used highly advanced technology to find gold deposits and veins. So, with the price going up, the government would most likely mine or base the certificates from this also? Federal mines etc.?

Gold certificates from failed banks were not protected by the government through FDIC? I could imagine a gold coin or plated coin that had an ID chip assigned to only one person etc. Reminds me of polker chips.

Gold going up to 2,000 an ounce would also fulfill Pat Robertson's prophecy. That just wouldn't be right. I would sooner think the government would ban it as currency or trade if it wasn't already minted.

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
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.

Wow! That IS a provocative question ANNED, and one bills like this one may actually give cause for a serious investigation. I don't know what our rights are as citizens regarding such an audit be mandated or if such an argument can be brought to the supreme court if such a request is rebuffed but your post sure got me wonderin.

reply to post by tjeffersonsghost


Or its electronic equivalent????

Hmm, sounds to me like thats where the real point in this lies.

How will the electronic equivalent work?? RFID??

A while back there was a story about a business owner who payed his employees in real silver dollars and the government wanted to tax the employees on the actual value of the silver rather than the face value of the coin.

Anyone know what happened with that case? It may have bearing on the case we are discussing on this thread.

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.

Gold is money it isn't a fad.

Haven't you ever watched the Hitchhikers Guide to the Galaxy

I would love for this to happen. I hate the Fiat money system and I hate the Federal Reserve with a passion.

But does anyone truly think the Federal Reserve will let this happen?

I've got a 20 spot of phony bologna Federal Reserve money that says this never goes through

Do any of you know what happened to personal gold holdings during the Great Depression?? The government seized them. Then there was WW2 and everything was rationed. This is when we came of the original gold standard that only got started around 1900. Now we are in another depression or a continuation of the Great One. The government will simply seize the gold again.

PAX

Its a win win situation. We get a gold standard again and they will have to hire more tree huggers n miners!

If you set the value of an ounce of gold to be 2000 USD then we do probably have enough gold and it could be used for currency, it could also bring wages back down to real world value, as well as inflation, etc.

BTW, fiat money is man's currency, gold is Gods currency.

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.

www.origsix.com...

this will also drive the treehuggers nuts trying to stop the mining.

[edit on 15-1-2009 by ANNED]

[edit on 16-1-2009 by GrndLkNatv]

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.

[edit on 1/16/2009 by csulli456]

Considering all corporations will be broke in the next two years I would say it has ended, the heads of the companies are just too stupid to realize it yet.

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.

Digital money is soo much better for the Great Manipulator. You can add an subtract money from the monetary base without anyone knowing it.

Since we left the gold standard...

We have become slaves to paper...

This is most likely one of the most ridiculous threads on ATS. Consider the truth that gold comes from mines and they are privately owned and that should put you off gold fast. Who so ever controls the mineral rights can then inflate or deflate all trade. They can hold back or cut production to drive up the value.

Then there is this problem...

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).

$4.5 Trillion the world over @ $1K per/oz. The USA owes TRILLIONS in national debt now.... Duuuuuuuuuuuuu. That makes this whole thing moot by the way.

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.)

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.)

I'm not the one to ask but I hear Pussy Galore



Odd Job




and Goldfinger




have something going down at Ft. Knox pretty soon??

I suggest we cut copy and paste -- And Send it our representatives and demand a simular action from our state's...

John Wood Fla. State Gov. is notified...