posted on Oct, 6 2010 @ 03:26 PM
Having a gold backed dollar is almost as scary as the current fiat system that we enjoy today. Why is that you may ask? Because gold is a commodity
and whoever owned the most of that commodity would have complete influence over the world's monetary system, not just the nations and there wouldn't
be anything we could do about it.
Instead, I believe that a fiat currency, controlled by the people and not debt-based is the way to go. Once you back your currency with a commodity,
whoever rules that commodity would have absolute rule over the currency, the same people who have rule over our current currency, only their influence
over the currency would be much more direct and solid.
We need to pry our currency out of the control of these people/entities and instead control it ourselves. We can do that with a fiat currency that is
not debt-based and is not run by power individuals behind closed doors. We have done it before, as this is what King Alfred did in England after the
fall of Rome. It's also what Lincoln did during the "civil war" to keep America from being completely owned by the London bankers due to war
Another thing that scares me about gold, is that there are many rumors of gold plated tungsten bars replacing what used to be real gold bars. Whether
this is true or not, it has the power to manipulate the price and value of gold. Just the fact that it can be so easily done is scary at best.