Trump proposes returning to the gold standard.

originally posted by: nwtrucker
a reply to: JoshuaCox

Wrong. Really wrong. Couldn't be wronger. It contradicts your own post.

The value can be and would be arbitrarily set. An arbitrary value. Not using gold as currency. Using it as a 'standard'.

Set it. Maintain it. Make it law.

Price controls?

How very statist of you.

I'd believe it ten years after I saw it- but every time anyone, anywhere in the worlds, fights to escape the Fed and issue their own gold backed currency, a key player gets murdered and it doesn't happen.

The banks run the world. Don't forget it.

Might be worth stocking up on some Silver just in case, though. If it's attempted, silver resale could potentially be very profitable for a short while.

a reply to: nwtrucker

The whole concept of money is smoke and mirrors..


All that really matters is materials, knowhow and labor.


Plus of course the military might to protect/seize and materials, knowledge or labor you need.


We hVe the biggest military on the planet times 10..

Our debt or deficit is literally irrelevant.


If China asks to cash their debt in , W.E. will NOT be giving them Alaska. We will tell them to kick rocks.

If you loan money to Tony soprano, he only pays you if you feel like it.

a reply to: JoshuaCox

Makes sense....

I don't know if a few of these people on this thread are really dumb or paid shills.
Gold standard is what made America what it is or was. Now, we print fake money backed by nothing and when the banks run low they just print more paper crap money. So, when a bank on the gold standard wanted to put out more loans than they could back with gold, they couldn't. They would have to wait and grow revenue or gold. But when it's backed by nothing, they loan freely and collect all the nations wealth through loan revenue. And then you have yourself a 1% untouchable class that we have today.
As a matter of fact we have bitcoin now which is a new way to rob even more. Bit mining is rediculous.

a reply to: nwtrucker

Not gonna happen. All noise, no action.

originally posted by: dashen
I mean Donald Trump literally has a gold toilet in his penthouse. His name is emblazoned in gigantic gold letters on all of his buildings I am not shocked.

Pics or it didn’t happen!

originally posted by: JoshuaCox
a reply to: nwtrucker

The whole concept of money is smoke and mirrors..


All that really matters is materials, knowhow and labor.


Plus of course the military might to protect/seize and materials, knowledge or labor you need.


We hVe the biggest military on the planet times 10..

Our debt or deficit is literally irrelevant.


If China asks to cash their debt in , W.E. will NOT be giving them Alaska. We will tell them to kick rocks.

If you loan money to Tony soprano, he only pays you if you feel like it.

Actually even if it was possible for China to cash the debt in like that (and they can't), all that would happen is China exchanges a financial asset that pays interest to one that doesn't.

Really no big deal.

originally posted by: TexasTruth
I don't know if a few of these people on this thread are really dumb or paid shills.
Gold standard is what made America what it is or was. Now, we print fake money backed by nothing and when the banks run low they just print more paper crap money. So, when a bank on the gold standard wanted to put out more loans than they could back with gold, they couldn't. They would have to wait and grow revenue or gold. But when it's backed by nothing, they loan freely and collect all the nations wealth through loan revenue. And then you have yourself a 1% untouchable class that we have today.
As a matter of fact we have bitcoin now which is a new way to rob even more. Bit mining is rediculous.

In one book, it was stated that they don't even bother to 'print the money'. A dude sits on a keyboard and as a T-bill is 'cashed in', he merely issues, via his keyboard, a deposit to the appropriate account and it is honored!!

No recourse, responsibility or accountability.

Pure magic. Black magic.

originally posted by: nwtrucker

originally posted by: neo96
There is not enough gold to back the current money supply.

It will not work.

The Gold Standard is never coming back.

Sure there is enough gold to back the money supply. 'X' amount of gold measured by "Y" amount of money. The totals of each are irrelevant. Just some fancy math is required.....

Exactly correct. In order to back the currency with gold you just have to fix the price of gold. With every issue of new currency the fixed price of gold goes up to the point where $1 of currency equals $1 in gold. If we don't have enough gold because the bankers have shorted it perpetually, we simply take that amount from any wealth the bankers or those who agreed to sell the gold as part of government retain after the conversion.

originally posted by: mekhanics
a reply to: nwtrucker

Not gonna happen. All noise, no action.

Yep. The same words uttered when he ran for President.

a reply to: AugustusMasonicus

I have no problem with using anything that has a finite supply to back the currency.

originally posted by: TexasTruth
I don't know if a few of these people on this thread are really dumb or paid shills.
Gold standard is what made America what it is or was. Now, we print fake money backed by nothing and when the banks run low they just print more paper crap money. So, when a bank on the gold standard wanted to put out more loans than they could back with gold, they couldn't. They would have to wait and grow revenue or gold. But when it's backed by nothing, they loan freely and collect all the nations wealth through loan revenue. And then you have yourself a 1% untouchable class that we have today.
As a matter of fact we have bitcoin now which is a new way to rob even more. Bit mining is rediculous.

very well said.

originally posted by: sligtlyskeptical

originally posted by: nwtrucker

originally posted by: neo96
There is not enough gold to back the current money supply.

It will not work.

The Gold Standard is never coming back.

Sure there is enough gold to back the money supply. 'X' amount of gold measured by "Y" amount of money. The totals of each are irrelevant. Just some fancy math is required.....

Exactly correct. In order to back the currency with gold you just have to fix the price of gold. With every issue of new currency the fixed price of gold goes up to the point where $1 of currency equals $1 in gold. If we don't have enough gold because the bankers have shorted it perpetually, we simply take that amount from any wealth the bankers or those who agreed to sell the gold as part of government retain after the conversion.

Gold confiscation.

Another Statist when it comes to money

Gold / Silver / Platinum / Diamonds / Copper? So many ways to use a precious metal or rare earth mineral to back currency with. It doesn't have to be only gold.

originally posted by: ScepticScot

originally posted by: nwtrucker
a reply to: JoshuaCox

Wrong. Really wrong. Couldn't be wronger. It contradicts your own post.

The value can be and would be arbitrarily set. An arbitrary value. Not using gold as currency. Using it as a 'standard'.

Set it. Maintain it. Make it law.

Price controls?

How very statist of you.

Statist or merely stability? I seem to recall when gold was fixed at 35 dollars an ounce. Things seemed fine then, IIRC.

originally posted by: JoshuaCox
If China asks to cash their debt in...

You cannot 'cash in' a Treasury Bond, it's paid at maturation so this is a strawman argument.

originally posted by: eNumbra
What happened to the last president who wanted to return to the Gold standard...

Exactly. Was just going to reply with the same.

originally posted by: WarPig1939
Gold / Silver / Platinum / Diamonds / Copper? So many ways to use a precious metal or rare earth mineral to back currency with. It doesn't have to be only gold.

And you are OK with the government hoarding vast supply's of these in order to do so?

originally posted by: sligtlyskeptical
Jubilee the debt, eliminate fractional reserve banking, back the currency with gold and fix the price of gold so that each $1 of currency equals $1 worth of gold. Eliminate taxes and fund the government with direct issuance of currency. Live happily ever after.

And 90% of the country lives in abject poverty since gold supplies aren't high enough to convert the current monetary supply into a $1-for-$1 conversion.