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Old 11-19-2011, 09:06 PM
 
8,810 posts, read 5,361,426 times
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Quote:
Originally Posted by gwynedd1 View Post
Assuming this is true, there is your gold standard, now a monopolist's hoard. Its no better than the Fed.
It's called corruption. And no system that has ever existed or will ever exist can be devised to eliminate corruption and stupidity.

Unfortunately, a group of corrupt bankers managed to get a corrupt group of congressmen and an idiot president to pass the Federal Reserve Act in 1913. And those same corrupt fraudsters dishonestly claimed that the 16th Amendment was ratified, which set the stage for the bankers to loot the country, and fleece the sheep.

And even today ... with all of the corrupt history laid out in front of them, the sheep are still as drooling stupid now as they have ever been, and perhaps even more so now than before.
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Old 11-19-2011, 10:23 PM
 
8,810 posts, read 5,361,426 times
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Quote:
Originally Posted by theunbrainwashed View Post
He's right. Where are you going to get the gold to support trillions? This was fine in the old days, when population was small. Here's another quote that would answer your post quite well. Emphasis mine
We have a different way of looking at problems it seems. You say there isn't enough gold in US possession to apply a gold standard. I say the reason we don't have that gold is because we abandoned the standard, and our gold was heisted.

You say the population is too large to have a gold standard ... I say the population has NOTHING TO DO WITH IT. We had a population of 200+ Million in 1970, and we had the gold standard, and it was $35 an ounce, now it's$1,700 per oz ... how'd we manage that?

We had a population of 170+ Million when dollars were made of silver, quarters and dimes too ... how was that possible?

The population hasn't quite doubled ... yet in 1960, that silver dollar was a dollar ... now it's $40 dollars. Seems to me something is out of whack in this "we don't have enough to go around" claim. If we could circulate silver dollars, half dollars, quarters, and dimes for a population of 170 Million, we should at least be able to circulate the same at either 1/2 of the old silver content (in order to double the supply to accommodate the population increase which has less than doubled) or double the value of that silver ..... yet it is now not double ... it is 40 times the old value. The math just doesn't add up.

The issue is, if we had never gone off the gold/silver standard, there would have been no inflation for the past 40 which would have kept a silver dollar worth one dollar. We wouldn't have 15 Trillion in debt to worry about.

All of these things we see today are because of fiat currency, allowing the FED gangsters to print and pass out US Dollars like confetti world wide in their criminal ponzi schemes.

Saying that the old ways won't work today are just excuses the criminals have devised to keep people believing in their ponzi system.
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Old 11-19-2011, 11:31 PM
 
Location: Texas
23,877 posts, read 10,085,470 times
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Quote:
Originally Posted by GuyNTexas View Post
Actually, not until 1971, when the US Dollar became fiat.

By having the Pound Sterling pegged to the US Dollar under Bretton Woods, by default, Britain remained on the gold standard from 1944-1971.
Yes but that's like saying the US was on it from 1933 and on when citizens couldn't have gold. The "squeeze" started in the 1930's.
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Old 11-20-2011, 12:47 AM
 
2,024 posts, read 4,483,823 times
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Gold linked money has proven to be a giant failure over and over again throughout history. Its all about who gets to control the production of money and not what backs it.

Nathan's Economic Edge: The Fallacy of Gold Backed Money…
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Old 11-20-2011, 06:26 AM
 
3,458 posts, read 3,002,331 times
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Quote:
Originally Posted by gwynedd1 View Post
A lot of these are what I would call a free-yacht money system. I can see why people would be confused by a gold standard when you are not using primarily gold. Then say Bimetallism. However if you believe in da guberment, why not have them issue a debt free currency? If you don't, then why do you want them to start making legal tender laws?


Now when its fractional reserve "lending" we are looking at free-yacht money.I am glad that perhaps one person in 30 might get a coin in a panic but for the other 29 it would be far worse.

If you had free banking than any one with fungible assets could monetize it , and competitive issuers would typically punish those who tried to create too many notes. We would also see much of it redeemed for its use-value.
wouldn't free value money, like the scottish banking system, take away the 'global reserve currency' status of the US Dollar?

another idea would be to scrap the concept of 'growing the money supply through lending', going to full reserve banking (as we've said), and simply writing american households an annual check to grow the money supply. You'd think the "Tea Party / low taxes" crowd would be all over this one, since they argue that individual Americans know better how to invest and spend their own money, than anyone else. You just need the people to reassert the idea that it is, in fact, their money... and not the Fed's.
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Old 11-21-2011, 12:14 AM
 
7,574 posts, read 4,050,420 times
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No matter what system of value is put in place, over borrowing from it is never a good idea. What I'm saying is, it wouldn't matter if it was gold standard or corn grain, the government is going to do what the government does and the people are the ones left to pay for it in the end.
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Old 11-21-2011, 07:08 AM
 
Location: San Diego California
6,797 posts, read 6,137,599 times
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Quote:
Originally Posted by knowledgeiskey View Post
Gold activist fail to understand history. The gold standard was part of the reason why the economy collapsed in the first place.
BULL Sh8t!
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Old 11-21-2011, 10:05 AM
 
8,810 posts, read 5,361,426 times
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Quote:
Originally Posted by Loveshiscountry View Post
Yes but that's like saying the US was on it from 1933 and on when citizens couldn't have gold. The "squeeze" started in the 1930's.
The prohibition on public ownership of gold, however draconian and illegal, had nothing to do with the currency being on a gold standard. The "Gold Standard" simply means that the dollar had a fixed value relative to gold. Prior to the gold confiscation, that value was $20 .... immediately after the confiscation, the currency was devalued, fixing the price at $35.

But even after that gold confiscation, the system still worked the same during that period insofar as a gold backed currency is concerned (the currency was simply devalued by 40%), while the currency "in circulation" continued to use silver as the monetary unit with intrinsic value. The cleansing of real money simply began with the confiscation of gold, and the removal of gold coinage .... but wasn't completed until silver was entirely removed from circulation, and replaced with base metal. That process began in 1964 .... eliminating silver entirely from US coin minting by 1970.
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Old 11-21-2011, 06:58 PM
 
Location: Texas
23,877 posts, read 10,085,470 times
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Quote:
Originally Posted by GuyNTexas View Post
The prohibition on public ownership of gold, however draconian and illegal, had nothing to do with the currency being on a gold standard. The "Gold Standard" simply means that the dollar had a fixed value relative to gold. Prior to the gold confiscation, that value was $20 .... immediately after the confiscation, the currency was devalued, fixing the price at $35.

But even after that gold confiscation, the system still worked the same during that period insofar as a gold backed currency is concerned (the currency was simply devalued by 40%), while the currency "in circulation" continued to use silver as the monetary unit with intrinsic value. The cleansing of real money simply began with the confiscation of gold, and the removal of gold coinage .... but wasn't completed until silver was entirely removed from circulation, and replaced with base metal. That process began in 1964 .... eliminating silver entirely from US coin minting by 1970.
Right but you do know FDR fixed the price of gold during that time too. It was backed at whatever level he set. So it wasn't the free market setting the price was my point about starting he slide.
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Old 11-21-2011, 07:30 PM
 
Location: Philadelphia
11,832 posts, read 9,881,032 times
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Quote:
Originally Posted by actonbell View Post
No matter what system of value is put in place, over borrowing from it is never a good idea. What I'm saying is, it wouldn't matter if it was gold standard or corn grain, the government is going to do what the government does and the people are the ones left to pay for it in the end.
Exactly, a nation without debt is a free and prosperous one, but don't tell the Federal Reserve that. They enjoy the stranglehold they have had on our country since 1913.




Thomas Edison on Government Created Debt-Free Money:

If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good. The difference between the bond and the bill is that the bond lets the money brokers collect twice the amount of the bond and an additional 20 per cent, whereas the currency pays nobody but those who directly contribute to Muscle Shoals in some useful way.
” … if the Government issues currency, it provides itself with enough money to increase the national wealth at Muscles Shoals without disturbing the business of the rest of the country. And in doing this it increases its income without adding a penny to its debt.
“It is absurd to say that our country can issue $30,000,000 in bonds and not $30,000,000 in currency. Both are promises to pay; but one promise fattens the usurer, and the other helps the people.

Thomas Edison on Government Created Debt-Free Money | Prosperity UK
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