It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

The GOP Wants To Set Up A Gold Commission

page: 1
2

log in

join
share:

posted on Aug, 23 2012 @ 05:47 PM
link   


"Drafts of the party platform, which it will adopt at a convention in Tampa Bay, Florida, next week, call for an audit of Federal Reserve monetary policy and a commission to look at restoring the link between the dollar and gold," they report.


www.businessinsider.com...

www.ft.com...=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F06ebfdaa-e d3f-11e1-83d1-00144feab49a.html&_i_referer=http%3A%2F%2Fwww.ft.com%2Fhome%2Fus#axzz24PZJh2pa

Is this just to grab the vote of the Independents and the Paulites? Romney admitted that Paul intrigued him about the Fed and Gold Standard... Maybe this is his push?




posted on Aug, 23 2012 @ 05:54 PM
link   

Originally posted by CALGARIAN



"Drafts of the party platform, which it will adopt at a convention in Tampa Bay, Florida, next week, call for an audit of Federal Reserve monetary policy and a commission to look at restoring the link between the dollar and gold," they report.


www.businessinsider.com...


Is this just to grab the vote of the Independents and the Paulites? Romney admitted that Paul intrigued him about the Fed and Gold Standard... Maybe this is his push?


I don't think independents will fall for this transparent pandering. I'm not! Besides there's not enough gold to even cover half of the money that's been printed, unless they jack the spot price way up.

I find it ironic that Romney wants to audit the fed but won't let his own finances be audited.
edit on 23-8-2012 by olaru12 because: (no reason given)



posted on Aug, 23 2012 @ 06:11 PM
link   
Ummm..... This makes me wonder.. what is the goal here? If it's designed to give a way of showing the nation just how doomed we truly are, in economic terms, then this would be brilliant. It would demonstrate it without question or opening for debate with facts that stand for themselves.

It won't even matter if the Fed and Fort Knox have every last ounce they are said to have. We can't ever go back to the gold standard without first going through total fiscal collapse of the currency. There is no going home, so to speak. Why? Well...

Total Gold ever mined on Earth from the start of Man's gathering of resources (estimated):


"The best estimates available suggest that the total volume of gold mined over history is approximately 153,000 tonnes, of which around 63% has been mined since 1950. The upward trend in annual production is now leveling off, due not least to a considerable slowdown in exploration spending in the late 1990s. Independent analysts are of the belief that mine output will remain flat for the next few years and may even drop slightly." (Year-end 2004)

153,000 tonnes x 32,150.75 ounces/ton x .8875* = 4.37 billion ounces
Source - Silver and Gold Historic Totals

Based on the above and going by a current spot price of $1,671.10 we have a total US Dollar value of all the gold ever mined by mankind of:

$7,302,707,000,000 (Trillion)

Our national debt is just a hair off 16 Trillion dollars and projected to be around 20 Trillion by 2017.

By way of context to the problem, the Federal Budget for 2012, as actually happened, was 3.8 Trillion USD with a deficit for the year of 1.3 Trillion. So just last year and only for the Federal Government, we managed to spend over half the value of all the gold mined in history.

Yeah.... I love the idea of auditing the Fed, because the public needs the shock that result will have to bring if it's even remotely honest. People like me can repeat the honest numbers a thousand times and 95% of Americans will never believe it. The truth it represents is too horrible to accept. It'll take something like an audit to ram it home with a sledgehammer.



posted on Aug, 23 2012 @ 06:42 PM
link   
reply to post by CALGARIAN
 
Hey Calgarian...

You know there are Paul supporters involved in this process trying to get some planks added to the republican platform, right? The goal is long-term to fix some things that have gone all breaky in this nation over the last hundred years or so.

Take care.



posted on Aug, 23 2012 @ 07:06 PM
link   
Hey at least we'd know the true value of a dollar and it would technically no longer be fiat money even though a gallon of gas might be $50, along with that loaf of bread make it an even $100 and you got yourself a sale!



posted on Aug, 23 2012 @ 07:39 PM
link   

Originally posted by Phoenix
Hey at least we'd know the true value of a dollar and it would technically no longer be fiat money even though a gallon of gas might be $50, along with that loaf of bread make it an even $100 and you got yourself a sale!


I don't know, anyone wanting a gold standard. Ever stop to ask yourself how much gold you have? Probably not much. Ever ask yourself why that is? It's because it's rare.

Ever ask yourself how much fiat currency you have? In this economy, probably not much. And they print that stuff out of thin air! If people can't get their hands on air dollars then how will they get their hands on gold dollars? You can only print so many of those. The answer is they won't. They'll be broke.

After all, if the problem really is that there's too many fiat dollars, how come everyone I know is broke? Are we being played here?

Gold is rare and the people that have the gold? Well guess what, it's people like the federal reserve. Yeah they bought it all up with their fiat currency already. Sure, it'd be great for them.

It's easier to just buy some gold for yourself than converting the whole money system. After all, I'd rather buy my groceries with fiat air dollars. As long as I eat.

Remember, the whole reason that people want a gold dollar is because they're afraid of all this "inflation". Because when they buy too much crap that cause prices to go up right? But what inflation? Everyone is broke! Home sales are in the gutter.

We don't have inflation right now. After the housing bubble, the loan market crashed. That's how our fiat money is created. Every time someone takes out a loan, the money is created right then and there. After the housing bubble the banks stopped loaning causing less new money.

Retail sales aren't good. Home sales aren't good. Car sales aren't good. The problem is definitely NOT that everyone is buying too much stuff. Our problem is exactly the opposite. The problem is that nobody has any money because nobody is borrowing new money into the system and spending it on things.

That's why to try and fix it, they printed more money. Switching to gold and therefore less money, will not help me not be broke. I don't need less money. I already have no money. That problem is solved.

The whole problem is that our system was designed with the idea that it would grow forever and there'd always be new borrowers. Now we can't find any new borrowers to bring new money into creation. That's why the system is failing.

20 million empty homes plus however many rental units we can't rent? 50 million abortions since Row v Wade? Wonder if those have anything to do with each other? That's why the gov doesn't care about illegal immigrants. They're hoping they'll buy some houses! lol. Who's supposed to buy the houses? We can no longer assume they'll always be more borrowers.

If they want to switch money systems I suggest this.




top topics
 
2

log in

join