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The commodity-based monetary system was a hindrance to the economic goals the West was wanting to reach for in the middle of the Cold War. With all of the faults of the fiat system it is probably not feasible to be a reactionary now.
The reality is, it's never too late to stop being stupid, unless you die stupid.
But you are correct in one aspect ... a tangible asset based currency was a hindrance to economic goals of those who control the currencies. Unfortunately, you and most others don't recognize what that goal was.
And the goal was ... to convince you to trade your labor and productivity for worthless paper while the controllers gathered everything of tangible value into their possession. And they've pretty much accomplished that now.
All of us have only one choice left ... get smart, or die stupid.
The reality is, it's never too late to stop being stupid, unless you die stupid.
But you are correct in one aspect ... a tangible asset based currency was a hindrance to economic goals of those who control the currencies. Unfortunately, you and most others don't recognize what that goal was.
And the goal was ... to convince you to trade your labor and productivity for worthless paper while the controllers gathered everything of tangible value into their possession. And they've pretty mush accomplished that now.
All of us have only one choice left ... get smart, or die stupid.
Serious question here. I want to know why gold is the commodity of choice for backing the dollar. Is it because of tradition? Because it is more valuable than any other commodity?
Serious question here. I want to know why gold is the commodity of choice for backing the dollar. Is it because of tradition? Because it is more valuable than any other commodity?
Enlighten this fiat-washed brain, please.
I agree. Backing a currency with just gold isn't feasible anymore. There's not enough gold in the world to pay off our debt, for one, and two, the price of gold can still be manipulated so it's not foolproof either. I prefer the old English Tally Sticks. Just as good as gold, without the problems an only gold-backed currency represents. Hell, even the Roman Republic or Empire didn't use gold for their currency. They used bronze
Serious question here. I want to know why gold is the commodity of choice for backing the dollar. Is it because of tradition? Because it is more valuable than any other commodity?
Enlighten this fiat-washed brain, please.
First of all, you have to understand what money is. And it could be silver ... and in reality ... constitutionally speaking, that IS what a real dollar is .... 371.25 grains of silver. And, silver being an industrial metal which has other valuable uses, as well as having medicinal value, stands on it's own with regard to having intrinsic value. By comparison, the fake dollar we're using now is nothing more than paper and ink, which has no real value, and can have it's illusion of value erased quite easily. What else can you do with paper? Wipe your butt? Start a fire? This is the principle reason for using something with tangible value as money, rather than something that is valueless and only represents the appearance of value. An analogy might be ... if you were hungry, what would you rather have ... a picture of a can of beans, or a can of beans? Or ... if you were really thirsty, would you rather have a tall glass of ice water, or a gift certificate for one?
The next part of understanding this is to know how Fiat currency came into existence, which should give you all the knowledge you need to understand what a fraud it is and why it is undesirable for the receiver (it's a great deal for the issuer).
Paper money came into existence for the express purpose of "convenience", and noting else. It's much easier to carry a Thousand Dollars in paper money rather than one thousand silver dollars in your pocket, which would have weighed 60 lbs back when silver dollars were in circulation. Ten 100 dollar bills fold up and store in your pocket much nicer, but they were nothing more than a receipt for real silver dollars stored at the bank. And that receipt carried a guarantee that you could go to any bank, and redeem that receipt for real silver dollars, whenever you decided to.
Unfortunately, due to the ease at which vast numbers of the population can be hoodwinked, the gangsters that printed those receipts managed to convince the public that the paper receipts were in fact real money, allowing them to do away with the need to provide real money in exchange. (Read: the bankers get to keep the gold and silver for themselves, and give you fancy looking toilet paper in exchange for your labor, goods & services). A pretty sweet deal for the bankers, but not so much for the people getting fancy toilet paper. Viola! Fiat money was born!
At the same time, this also opened the door for the gangsters to create as much of those fake dollars as they wanted, at no expense other than paper, ink and printing, which is much cheaper than locating and mining metal out of the ground, and making coins out of it. And while creating as much paper money as they choose, this allows them to rob you further by diluting the value of every dollar you have saved for your entire life, as they dump more worthless paper into the operating economy ... AFTER they of course extract full value from the new money, being the first handlers of it! Once it gets to you, it's value has diminished, as has everything else you have which is denominated in those worthless paper dollars.
Now, if you don't understand this now .... try thinking of the matter from a banker gangster's point of view. Let's say YOU .. Geofra are given the special privilege of being above the law! Uncle Sam has given you a license allowing you and only you to print your own money .. right there in your room ... using your computer and your ink jet printer. And Uncle Sam passed a law saying that everyone had to accept your money. Would that be something you'd like? Do you see the advantages of being able to print up a few thousand dollars whenever you wanted or needed money for something? Of course you do. At the same time, from the other person's point of view, it seems extremely unfair that I (for example) had to plow my fields, grow my seedlings, plant them, let them grow, fertilize them and then hope and pray for enough rain so that I'll have something to harvest in the fall. Then I harvest my crops .... and here YOU come along with all that paper you printed with your computer ... you hand it to me, and take all of those crops I worked months to produce, while you sat on your arse doing nothing.
That is what the fiat money system actually does. It allows those that do nothing to force the rest of us to do everything for nothing. And you wonder why some people are complaining? That's your answer.
As for gold, it's been used as money for thousands of years, and there are many reasons for that ... it's chemical composition and the difficulty in creating a fake being just one ... the difficulty in locating it, mining it out of the ground being others ...
The better question is why do you seem to have such a problem with gold being used as money? Here we already have something that's served it's purpose for thousands of years ... why would you want to change that? It makes no sense.
Last edited by GuyNTexas; 11-19-2011 at 12:25 PM..
I agree. Backing a currency with just gold isn't feasible anymore. There's not enough gold in the world to pay off our debt, for one, and two, the price of gold can still be manipulated so it's not foolproof either. I prefer the old English Tally Sticks. Just as good as gold, without the problems an only gold-backed currency represents. Hell, even the Roman Republic or Empire didn't use gold for their currency. They used bronze
Why on earth do you keep proffering this nonsense you keep offering? Do you work for the Federal Reserve?
Rome most certainly did use precious metals as money ...early Rome used Aureus=Gold, Denarius=Silver, Sestertius=Brass or Copper, and Assarius=Bronze, which began before the age of Jesus Christ, and the Gold Solidus was used right up to the end of the Roman Empire.
As for English talley sticks, they were used as an accounting method like a receipt, due to shortages of coins, where the one one party had one half of the stick and the other party had the other half to be reconciled (paid) later.
Why on earth do you keep proffering this nonsense you keep offering? Do you work for the Federal Reserve?
Rome most certainly did use precious metals as money ...early Rome used Aureus=Gold, Denarius=Silver, Sestertius=Brass or Copper, and Assarius=Bronze, which began before the age of Jesus Christ, and the Gold Solidus was used right up to the end of the Roman Empire.
As for English talley sticks, they were used as an accounting method like a receipt, due to shortages of coins, where the one one party had one half of the stick and the other party had the other half to be reconciled (paid) later.
Can you stop the idiotic BS of, "if you don't believe in X, then you must be working for the other side!" Thanks.
Why on earth do you stick to something that can still be manipulated on the international market anyway? With gold being in such short supply, it can NEVER support any large economy, and countries will go to war to increase their reserves if there's not any left. The rich bankers can buy up gold on the international markets, and send the price crashing down, destroying the dollar. You can't monetize ONE metal, you have to monetize multiple metals. Putting it in perspective, there's not enough gold in the world to pay off the fraudulent national debt.
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Thanks.
