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Very Hot Topic (More than 25 Replies) The Return to the Gold Standard (Read 1547 times)
Jeff
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Re: The Return to the Gold Standard
Reply #100 - Nov 2nd, 2018 at 8:41am
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SkyChief wrote on Nov 1st, 2018 at 10:21pm:
Yep.

That's inflation.

The promise that your dollar will be worth less tomorrow than it was today.

It's simply another [nearly invisible] Tax.

The crooks [Marxist progressives] who invented it were sneaky snakes.

Google Woodrow Wilson for further details!   Smiley     Smiley
Issuing scrip and making it legal tender insures inflation of the scrip. The U.S. did it during the Revolutionary War and also during the War of 1812 and the Civil War, but after the wars, they went back to real money.

The actual value of gold and silver don't change when you have legal tender scrip, it's just that as the supply of scrip is inflated, it takes more and more "Greenbacks" to by an ounce of gold or silver, or a bushel of wheat.
  
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BobK71
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Re: The Return to the Gold Standard
Reply #101 - Nov 2nd, 2018 at 5:38pm
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Jeff wrote on Nov 1st, 2018 at 5:05pm:
When gold and silver were money? Certainly wars caused the government to borrow lots of money and even to issue scrip, but outside of wartime, what are you talking about?

The government magically created more gold and silver in order to depress the value of gold and silver as money?


Yes, when gold and/or silver was money.  Simple money printing was enough to destabilize the world.  On the eve of World War I, still under the full, classical gold standard, Britain had only 3% of the gold that would have been required to redeem all the paper money.

The decades of instability and pain that followed was only to be expected as the gold standard became more and more unsustainable.  The point of the gold standard was never to stabilize paper money -- it was really to suppress gold and allow the elites to print.
  
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Jeff
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Re: The Return to the Gold Standard
Reply #102 - Nov 2nd, 2018 at 6:26pm
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BobK71 wrote on Nov 2nd, 2018 at 5:38pm:
Yes, when gold and/or silver was money.  Simple money printing was enough to destabilize the world.
You can't print gold and silver. Money can't be printed.

What they did was issue more notes than they could cover with their reserves of gold and silver, and people caught on to what they were doing.

When you issue more paper than you can possibly ever redeem, the paper turns into scrip rather than redeemable notes.

There is no way to prevent that happening if you grant your government the power to issue scrip that they can't possibly ever redeem and don't intend to.
  
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Jeff
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Re: The Return to the Gold Standard
Reply #103 - Nov 2nd, 2018 at 6:33pm
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BobK71 wrote on Nov 2nd, 2018 at 5:38pm:
The decades of instability and pain that followed was only to be expected as the gold standard became more and more unsustainable.  The point of the gold standard was never to stabilize paper money -- it was really to suppress gold and allow the elites to print.
The gold standard will no longer work if the government  decides to start printing scrip and make it legal tender.

Paper notes will only ever be stable in value when they are redeemable for money and people are confident that they can redeem the notes they hold for their money.

Print too many notes, and people realize that you are stealing their money, so they will rush to redeem their notes for their money.

The usual reaction of governments to the havoc they create by issuing scrip is to stop giving people back their money... Confiscating gold or silver, and making scrip "legal tender".
  
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Jeff
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Re: The Return to the Gold Standard
Reply #104 - Nov 3rd, 2018 at 6:54am
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Gold buying by Central banks continues-

https://www.cnbc.com/2018/11/01/gold-buying-by-central-banks-hits-its-highest-le...

They might not let gold be used as money, but they sure want to have lots of gold. Smiley
  
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SkyChief
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Re: The Return to the Gold Standard
Reply #105 - Nov 3rd, 2018 at 12:26pm
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Jeff wrote on Nov 3rd, 2018 at 6:54am:
Gold buying by Central banks continues-

They might not let gold be used as money, but they sure want to have lots of gold. Smiley

Central Banks are sending an ominous message:

They expect the US Dollar to collapse.

I like silver as a hedge because the gold-to-silver ratio (83:1) strongly favors silver.



This is what real money looks like.
  
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Jeff
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Re: The Return to the Gold Standard
Reply #106 - Nov 3rd, 2018 at 12:35pm
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SkyChief wrote on Nov 3rd, 2018 at 12:26pm:
Central Banks are sending an ominous message:

They expect the US Dollar to collapse.

I like silver as a hedge because the gold-to-silver ratio (83:1) strongly favors silver.

https://www.coincommunity.com/forum/uploaded/bobby131313/20140610_2014-Silver-Ea...

This is what real money looks like.
Our Central Bank isn't taking it laying down, they are fighting back by creating more FRNS!
  
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SkyChief
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Re: The Return to the Gold Standard
Reply #107 - Nov 3rd, 2018 at 12:37pm
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Jeff wrote on Nov 3rd, 2018 at 12:35pm:
Our Central Bank isn't taking it laying down, they are fighting back by creating more FRNS!

yep. and hastening the collapse by doing so.

Sad, really.   Sad
  
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Jeff
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Re: The Return to the Gold Standard
Reply #108 - Nov 3rd, 2018 at 4:39pm
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SkyChief wrote on Nov 3rd, 2018 at 12:37pm:
yep. and hastening the collapse by doing so.

Sad, really.   Sad
It's criminal actually, but I don't have standing to take a case to court because I can't show that I've been harmed by having the value of my money cut in half every 20 years or less since 1971.


Non-resident illegal immigrant wannabees have standing to take a claim to court that they are harmed by being denied due process by being denied illegal entry without a hearing! That has been considered standing by a claim of harm, the courts accepted it and it will run quickly up to the Supreme Court.

But citizens who have had a private bank steal half of their money every twenty years or less for decades have no legitimate claim of harm.

We're in Wonderland! Cheesy


  
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BobK71
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Re: The Return to the Gold Standard
Reply #109 - Nov 5th, 2018 at 9:10am
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Jeff wrote on Nov 2nd, 2018 at 6:26pm:
You can't print gold and silver. Money can't be printed.

What they did was issue more notes than they could cover with their reserves of gold and silver, and people caught on to what they were doing.

When you issue more paper than you can possibly ever redeem, the paper turns into scrip rather than redeemable notes.

There is no way to prevent that happening if you grant your government the power to issue scrip that they can't possibly ever redeem and don't intend to.


But if the gold/silver standard in every country in history has collapsed from too much printing, you have to start wondering if the intent of the gold standard was as advertised.

This became especially obvious around 1971, when the anti-inflationary function of the gold standard had become a combination of distant memory and joke, and the elites still tried to hold gold to $35/ounce.

When the elites repeatedly designed a system that failed always and in the same way, you have to start questioning if their intent was as stated in the first place.

By the time a few of us realized the truth, the elites had become fabulously rich over the centuries.  And the majority of us are still in the dark!
  
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