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Old 08-15-2019, 07:31 AM
 
2,217 posts, read 649,762 times
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Quote:
Originally Posted by luv4horses View Post
It can't since there is not enough gold to support the entire monetary system. A good part of the value of the dollar is based on the MILITARY MIGHTof the US government.
Fixed
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Old 08-18-2019, 05:42 PM
 
Location: Myrtle Creek, Oregon
12,493 posts, read 12,681,459 times
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Monetizing gold would also make a wreck out of the industrial uses of the metal. Say goodbye to computers and all other applications that require corrosion resistant contacts.
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Old 08-19-2019, 07:54 AM
 
12,769 posts, read 10,098,932 times
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Quote:
Originally Posted by PilgrimsProgress View Post
How would it affect the price of gold?

How would it affect the stock market?

How would it affect our economy in other ways?
Since our economy has become highly addicted to easy credit and associated securities and derivatives, we have forgotten how to make do when liquidity is constrained by a limited physical natural resource such as gold. Implementing a gold standard would be like taking morphine away from an addict. A massive recession would ensue and last for a while until the system re-adjusted itself. Quite possibly the US would default on a portion of its debt, and other "risk free" assets like bank deposits would prove themselves to be anything but risk-free. A sufficient number of bank runs would bankrupt the FDIC because they would not be able to come up with the gold to meet depositor demands for withdrawal.
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Old 08-19-2019, 08:11 AM
 
2,801 posts, read 1,810,038 times
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Why would the U.S do that?

I guess we’d try declaring war on ourselves for undermining the U.S hegemony.
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Old 08-19-2019, 09:14 AM
 
8,998 posts, read 4,005,499 times
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Massive infrastructure, future HC, major War, forget about it!
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Old 08-20-2019, 05:16 PM
 
732 posts, read 625,573 times
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I think the gold standard is less important than the golden rule.

If we went back to the gold standard, the rich would get less rich. Most of their wealth is based upon phony fake inflated asset prices due to monetary class warfare. Real estate prices would crash. Healthcare might collapse due to it's cost inflation foundations. Gold mining companies would become the new tech companies. It would be a lot harder to become rich. The current military system would probably collapse. It would become a lot harder to borrow money, and less fake stuff would get funded. Basically our society would have to live monetarily more in line with the scarcity of the earth's resources under the gold standard, instead of completely out of line.
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Old 08-20-2019, 05:59 PM
 
8,998 posts, read 4,005,499 times
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Quote:
Originally Posted by concept_fusion View Post
I think the gold standard is less important than the golden rule.

If we went back to the gold standard, the rich would get less rich. Most of their wealth is based upon phony fake inflated asset prices due to monetary class warfare. Real estate prices would crash. Healthcare might collapse due to it's cost inflation foundations. Gold mining companies would become the new tech companies. It would be a lot harder to become rich. The current military system would probably collapse. It would become a lot harder to borrow money, and less fake stuff would get funded. Basically our society would have to live monetarily more in line with the scarcity of the earth's resources under the gold standard, instead of completely out of line.
Do we do this to improve our lot, or someone's (or classes) lot? Or do we do this to spite ourselves, or because it feels more natural?

Why do I want to be less rich? Why would I want the poor to suffer more? Austerity for the middle class isn't my cup of tea!
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Old Today, 09:42 PM
 
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Arent we kind of on a petroleum standard?
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