Trump proposes returning to the gold standard.

a reply to: AugustusMasonicus

They're weaning themselves slowly


russia-insider.com...

Feb 9, 2017

As they sharply increase their gold reserves, China and Russia are selling off their U.S. Treasuries, with their hunger for the metal coming amid a strict diet excluding dollars. Gold is appealing to these countries because it shields them from the U.S. government's ability to control the value of their holdings. Gold is a country-less currency. A continuing trend of reserve buildup and Treasury sales might weaken the dollar and pressure gold prices higher. China and Russia have officially added almost 50 million ounces of gold to their central banks while selling off more than $267 billion of Treasuries.

a reply to: enlightenedservant

This would only affect the US's official price of gold while it wouldn't force other countries oe entities to adopt our rate, which is what I thought Krazy was talking about

Fair enough, thanks

originally posted by: TheConstruKctionofLight
a reply to: Krazysh0t
So you are all for bailing out small business's as well? Why are banks not held accountable?

Actually I feel like the banks SHOULD have been held more accountable and the people who should have been bailed out are the homeowners who got taken advantage of. This also doubles up in that poorer people save less and spend more. I'd bet the economy would have gotten back on its feet quicker that way, but we'll never know. Fortunately Obama's "slap on the wrist" policy and no near toothless Dodd-Frank bill fixed the economy enough to get us here today.

Please do tell me how the average Joe shareholder can play at High Frequency trading???

I'm not going to sit here and begin to pretend I have solutions for the monetary supply. I was asked for a solution I felt would be viable so I gave my suggestion. Bitcoin has its own problems and I don't understand economics enough to really trust myself to make a sound judgement anyways. I just know that I'd rather move forward fiscally than backwards.

originally posted by: enlightenedservant
a reply to: TheConstruKctionofLight

When the US was using the gold standard, the US govt did set our price for gold and the exchange rate for how many USDs could be changed per ounce of gold. I already covered that in more detail in an earlier post.

However, I only responded to your post which was replying to when he said "Gold prices are set worldwide". Well, as of 2014 they are set worldwide by those 5 banks. But if we tried to revert back to the gold standard, the US federal govt would then have to peg the USD at a specific price. This would only affect the US's official price of gold while it wouldn't force other countries oe entities to adopt our rate, which is what I thought Krazy was talking about.

You said it better than me.

a reply to: TheConstruKctionofLight

Maybe. Maybe not. People keep saying it will implode, but smart people have figured out ways to keep it from doing so up until now. We don't know what the future entails, but one thing we can take for certain is that humans SUCK something fierce at predicting the future. Maybe instead pretending like destruction is inevitable, we could work together to improve it? I feel like the doomsayers do a lot to hold us back from getting to the point we don't have to fear the destruction of everything.

We need to ask Trump to allow an audit of the US gold reserve at Fort Knox.

originally posted by: TheConstruKctionofLight
They're weaning themselves slowly

Except here's a source dated later than yours that says otherwise.

Both are increasing their holding on United States Treasury Bills since they provide a guaranteed return. No one is going to a gold-backed anything despite all the fapping.

a reply to: enlightenedservant

I suppose one could label a desire to see our nation not only survive but flourish as an emotion. Not worth exploring on this thread.

No, let it stay as it is, gridlocked based on minutia level points of personal ownership of gold.

I suppose it's safe to say that no matter what political, economic or financial system is in place there will be those that take advantage of it in one form or another. To one degree or another.

As many posters have pointed out the Gold Standard is not perfect, as well. Still, I have no problem messing with your personal comfort zone on gold ownership, whatsoever.

I don't have much. Can't eat the stuff. Those that are armed can take it away from you anyways. So, they have my approval to take your gold away....

a reply to: ScepticScot

Indeed. I can fully believe there's trauma to be had in changing back to a gold standard or any other system, for that matter.

Yet doing nothing, continuing the hand-wringing gridlock will take us where?

I believe we approach a point of no return. We may have already passed that point. IDK.

I'm willing to at least try. Perhaps Trump's rhetoric is merely political, a trail balloon, yet he does think outside the box and change is required.

I and many others are willing to have a go at it. JMO, though.

originally posted by: Krazysh0t
a reply to: TheConstruKctionofLight

Maybe. Maybe not. People keep saying it will implode, but smart people have figured out ways to keep it from doing so up until now. We don't know what the future entails, but one thing we can take for certain is that humans SUCK something fierce at predicting the future. Maybe instead pretending like destruction is inevitable, we could work together to improve it? I feel like the doomsayers do a lot to hold us back from getting to the point we don't have to fear the destruction of everything.

Those same smart people are key in creating this mess as well. You, yourself, play the fear role with how negative changing to a gold standard would be.

You may be right. Change is required, however. Many hold those smart people in lower esteem than you and rightly so.

a reply to: nwtrucker

People need to regain their trust in systems. We let our paranoia take the better of us more often than not these days. Things aren't perfect, but many seem to use that as an excuse to say everything is #ed and want to tear everything down.

originally posted by: openminded2011
a reply to: nwtrucker


If we go back to the gold standard, criminal financers will no longer be able to manipulate currency,or, at the very least it becomes more difficult, the whole debt slavery system comes crashing down. We would have to reset our whole financial system and suddenly the people who are pulling the strings are no longer pulling them. Good, let it happen. It needs to, the Ponzi scheme that is our economy is going to crash regardless of whether or not we do this, they have so convoluted it they cant even manipulate it enough to control it forever. We should just nationalize the banking system and go to a gold standard immediately. Russia and China are rapidly backing their currency with gold because they know the crash is coming, we can do the same or become an imploded failed state. IMHO its what is causing all the world turmoil. Those running things know its going to crash and they are terrified and desparate, hence we are seeing what we see going on, because they would rather see a world in chaos or in flames than one that is able to muster justice against them when their house of cards comes crashing down.

That's the way I see it, with my limited understanding. Yet look at the responses to the concept!! "It will never happen." It will cause this and that disaster. The same banks will still control the pricing of gold. Other countries would do similarly so it messes up the international trading of currency and general trade."Look at the economic history".

On and on and on.

It is obvious that other changes would be required to make it work. That same economic history can be learnt from and similar efforts avoided to some degree. (That assuming economic history is even relevant beyond the greed factor in a digital age.)

I would admit merely changing to a gold standard isn't sufficient, in and of itself. A complete revamp looks to be required.

Isn't this desire for a gold standard actually a demand for fixing the mess?

originally posted by: Krazysh0t
a reply to: nwtrucker

People need to regain their trust in systems. We let our paranoia take the better of us more often than not these days. Things aren't perfect, but many seem to use that as an excuse to say everything is #ed and want to tear everything down.

A 20 trillion debt isn't paranoia, it's reality. Trust is earned. I cite 20 trillion reasons there is no trust. Labeling it paranoia shows me your denial.

originally posted by: enlightenedservant
a reply to: TheConstruKctionofLight

When the US was using the gold standard, the US govt did set our price for gold and the exchange rate for how many USDs could be changed per ounce of gold. I already covered that in more detail in an earlier post.

However, I only responded to your post which was replying to when he said "Gold prices are set worldwide". Well, as of 2014 they are set worldwide by those 5 banks. But if we tried to revert back to the gold standard, the US federal govt would then have to peg the USD at a specific price. This would only affect the US's official price of gold while it wouldn't force other countries oe entities to adopt our rate, which is what I thought Krazy was talking about.

On order to be able to,set the price in gold you need huge reserves of the shiny stuff or the the ability to implement and enforce price controls.

If the US tried to set a price below the international rate it would rapidly run out of gold reserves. If it tried to set rate above the market rate it would rapidly cause inflation as it would have to keep issuing dollars.

Unless the US can persuade the rest of the world to go back to a fixed exchange rate scheme (which would itself create whole heap of problems) then no form of backed currency is going to work.

originally posted by: nwtrucker

originally posted by: Krazysh0t
a reply to: nwtrucker

People need to regain their trust in systems. We let our paranoia take the better of us more often than not these days. Things aren't perfect, but many seem to use that as an excuse to say everything is #ed and want to tear everything down.

A 20 trillion debt isn't paranoia, it's reality. Trust is earned. I cite 20 trillion reasons there is no trust. Labeling it paranoia shows me your denial.

Why is people having savings a problem? That is really all the debt is.

The only part that should cause any concern at all is the amount held overseas. Even here it would have to be at a much higher level than it is now before it would be a real issue.

originally posted by: ScepticScot

originally posted by: nwtrucker

originally posted by: Krazysh0t
a reply to: nwtrucker

People need to regain their trust in systems. We let our paranoia take the better of us more often than not these days. Things aren't perfect, but many seem to use that as an excuse to say everything is #ed and want to tear everything down.

A 20 trillion debt isn't paranoia, it's reality. Trust is earned. I cite 20 trillion reasons there is no trust. Labeling it paranoia shows me your denial.

Why is people having savings a problem? That is really all the debt is.

The only part that should cause any concern at all is the amount held overseas. Even here it would have to be at a much higher level than it is now before it would be a real issue.

At some point, those 'savings' morphs into 'ownership'. Leverage. Control. By a very select few.

You know that. Based on your posts, it's seems your not a fan of the U.S.. Do you consider yourself a 'globalist'?

originally posted by: nwtrucker
By a very select few.

Who owns the bulk of the United States debt? Is it a few or is it many?

The three largest holders of Gold are reported to be the US, Russia and China. China has been playing catch up and actively increased their stockpile from 2015 through imports and domestic production. There is really not enough information supplied in the quoted comment to clearly understand the message.

Was it about China?
Was it about a NWO economic strategy?
Was it a warning to Japan since they have much less gold backed debt?
Was it just a thoughtless statement given the post WW2 Globalist Currency control?

originally posted by: nwtrucker

originally posted by: Krazysh0t
a reply to: nwtrucker

People need to regain their trust in systems. We let our paranoia take the better of us more often than not these days. Things aren't perfect, but many seem to use that as an excuse to say everything is #ed and want to tear everything down.

A 20 trillion debt isn't paranoia, it's reality. Trust is earned. I cite 20 trillion reasons there is no trust. Labeling it paranoia shows me your denial.

That debt is from mismanagement. We can easily get that debt to a manageable level if we'd actually set out to balance a budget for a change. We also need to admit to ourselves that taxes need to be raised. We can't keep reducing government income and expect things to keep running smoothly.

I'd love to see the tyranny of globalist bankers absolutely and completely destroyed, I'm apprehensive though too, what makes capitalism the greatest economic system in the history of our world is the freedom of unlimited potential to obtain wealth, I'm curious if returning to the gold standard would have the unintended consequence of limiting the supply of wealth to a set amount that would have to be distributed by some bureaucracy since we can't "print" gold, or could we also eliminate taxation and have a true rebirth of capitalism and economic freedom?