reply to post by sligtlyskeptical
For those who want to tie gold to the value of the dollar it just won't work. Since markets are worldwide and gold is traded worldwide, then the US
pegging their currency to gold would not stop flucations of the dollar. In fact it may make it easier to influence it's direction
i understand what you stated. And for the most part I tend to agree. Allow to clarify though:
1) its not so much that " we " want the reimplementation of the gold standard, it was brought up due to the fact that there are many out there that
never knew that a gold standard even existed.
2) Assuming that the Gold standard was still in place, ( lets pretend for the moment ), much like it was in the 20's and 30's, prior to FDR
beginning to implement the removal of the gold standard, gold held its value on a consistent basis. Even though it was traded daily, it maintained
its value. Why? because no matter what happened in the market, gold was still perceived as an asset.
currency to gold would not stop flucations of the dollar.
Has already been proven false. History shows a thriving USD while backed by gold. That's not to say that the USG powers weren't spending
needlessly, but the purchasing power of the dollar was strong, stronger than it is today.
The problem is that we borrow our money into existence instead of just printing it.
The above is where I think you are confused. Yes we borrow, but where you need to be corrected, you stated above " instead of just printing it".
That's the problem. you see, Ben Bernanke, ( no he's not the only chairman who pulled this off ), create credit and money ( ie printing presses )
out of thin air. Nothing backing it. All they need do, is put a label on it, such as, Obamacare ( for example ), then turn on the printing press.
Now does that money really go to Obamacare ( or any other frivolous program) ? We dont know. Why? Because there is no oversight, no regulation. An
above poster tried to sell us on the Federal Reserve being owned and operated by the USG. Unfortunately, that poster has alot of reading and
researching to do.
The Federal Reserve is in fact private. Why else have laws protecting it from any audit, or investigation?
The below text illustrates that attempt to " open the Fed". There is no active transparency currently.
Washington D.C. October 20, 2009 -Today, Senators Jeff Merkley (D-OR) and Bob Corker (R-TN) introduced the Federal Reserve Accountability Act, an
attempted compromise on the issue of transparency for America's secretive central bank. The bill would permit an audit of the Fed's actions in the
Troubled Asset Relief Program (TARP) and similar high profile bailouts, but would not allow Congress to review the Fed's inflation of the money
supply or the its agreements with foreign central banks.
Further research solidifies your opening comment, information I came across during my research years ago.
The Federal Reserve is the chief culprit behind the economic crisis. Its unchecked power to create endless amounts of money out of thin air
brought us the boom and bust cycle and causes one financial bubble after another. Since the Fed’s creation in 1913 the dollar has lost more than 96%
of its value, and by recklessly inflating the money supply the Fed continues to distort interest rates and intentionally erodes the value of the
If I'm wrong about the Federal reserve, and wrong about the "privatization", then why even have a senate bill, let alone a HR bill 1207?
HR 1207, the bill to audit the Federal Reserve, swept the country and made the central bankers shudder at their desks.
The below further solidifies my statements about the secrecy, and the lack of auditing and investigation.
With HR 1207 gaining momentum, Congressman Mel Watt introduced a competing banker-approved “placebo” amendment that would have replaced HR
1207 and actually increased the Federal Reserve’s secrecy.
With that, I think you see where Im going, though you are on the right track, a little tweeking with use of examples and documented fact, would
suggest you are close to seeing the picture in its entirety.
Keep up the good work, Sskeptical, I commend you on your efforts to understand, and raise enlightening discussion.