"I am Ron Paul, for the gold standard.!"
And the crowd applauds
Ron Paul wants a complete overhaul of the monetary system which includes getting rid of the Federal Reserve, which on his website they call the "money
elves" because money magically is created and so generously distributed like gifts to banks who have repetitively put the financial well being of OUR
families at stake with unfair/moronic practices.
Candidate Paul wants a system backed by Gold & Silver
Why.? Because you can't pump gold & silver out of a press. The central banks won't be able to print up paper dreams or manipulate the market. Also
thus eliminating counter-fitting, then maybe their would be no USE for the fed. End the fed.!
Is hyperinflation imminent.?
How long will it be until foreign holders of our $1.3 trillion debt back up their own currency OR increase their gold reserves.? Or are they doing so
now.? How long do you think it will be until we really default on our loans.? When things don't work you get rid of them or try to fix it. The Federal
Reserve cannot be fixed and should have never existed. Apox on thee.! After WWI Germany had no gold to back up the Rentenmark, and had to mortgage off
their own land to pay reparations. How long until China owns your backyard.?
Because Ron Paul's website does not elaborate on how he plans to go about this, I'll try my own hand at it.
: I don't claim to be any type of economist
Now in 1861 gold and silver tender was only suspended
, to be replaced by gold certificates in circulation in the states from 1882 to 1933.
Allowing the international banking monster to consummate.
The total amount of gold that has ever been mined has been estimated at around 142,000 metric tons and arguments have been made that this amount
is too small to serve as a monetary base. The value of this amount of gold is over 6 trillion dollars while the monetary base of the US, with a
roughly 20% share of the world economy, stands at $2.7 trillion at the end of 2011.
Could our current amount of Gold reserves be enough to sustain the United States current economic system.? If gold wealth were represented in overall
GDP. Individual worth would be much less. Also measured in grams. Precious metal backing of paper currency was suspended as a result of the Civil War.
But $1 is still equal to about 1.505 grams of gold, the gold standard. With a population of about 311 million people, is this system feasible with the
possibility of growth.?
Edit *snip snip*
Thank you conspiracytheoristIAM
In 2010 the United States reported a holding of 8133.5 tons of gold bullion, equal to 237227081 oz.
237227081 oz*31.1 grams
Multiply this by 31.1 grams
We get 7.3 billion grams of gold
7377762219 grams /311000000 people
Divide this number by every U.S citizen
We get this number, everybody would own 23.7 grams of gold
23.7 grams*1.505 grams
Multiply this by the equivalent of a dollar in gold grams
We get $35.66
Everybody can now afford to feed their families for one week, maybe even a nice apple for desert.
Now let's factor in that the richest 1% in this country account for 1/3 of our net worth
In my opinion there would have to be A LOT less people in our country for this to work.
Once again I don't claim to be any type of economist but do you think this is a possibility if Ron Paul is elected.?
These are the top Gold bullion holding countries.
3. IMF (International Monetary Fund)
edit on 27-1-2012 by CaptainNemo because: Miscalculation