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Very Hot Topic (More than 25 Replies) The Return to the Gold Standard (Read 3503 times)
SkyChief
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Re: The Return to the Gold Standard
Reply #170 - Dec 16th, 2018 at 1:12pm
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The Opposition wrote on Dec 15th, 2018 at 9:59pm:
404'd like that one article you linked that said inflation was way worse than anyone let on.

I kid you not. I read it, and like an hour after you posted it, it had poofed.

Hmmm....     That's a little disturbing.

The government must not want the people to know the truth about inflation.

Which is entirely understandable, because inflation is the only Federal tax they can increase without congressional approval.
  
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BobK71
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Re: The Return to the Gold Standard
Reply #171 - Dec 18th, 2018 at 12:45pm
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SkyChief wrote on Dec 14th, 2018 at 2:51pm:
Ron Paul (and co-host Chris Rossini) explains in very simple terms why the government and the Federal Reserve bank HATE gold.




"Let us control the money of a country, and we care not who makes its laws."

- Mayer Amschel Rothschild


Probably, most people don't understand that the gold standard becomes a problem for the elites only if they don't have enough gold to support their money printing any more, at the *current* price of gold.  If and when the price of gold goes higher, depending on the size of their holdings of gold, it can become beneficial to them.

Of course, there are several practical problems here.  The likely small size of their gold holdings and the large amount of printed money today would mean an embarrassingly big rise of gold.  And the embarrassment may be real trouble, since confidence is the corner stone of their con game.

That is why I think the most likely outcome is that gold, silver, as well as various cryptocurrencies will become the new hard money supporting their money printing.  Again, I'm talking about 'in effect' rather than necessarily 'by declaration.'  There is nothing that says the world must have single hard money (a la the international gold standard from the 1860s.)  Both gold and silver were used for a long time before that.
  
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SkyChief
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Re: The Return to the Gold Standard
Reply #172 - Dec 18th, 2018 at 1:24pm
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BobK71 wrote on Dec 18th, 2018 at 12:45pm:
The likely small size of their gold holdings and the large amount of printed money today would mean an embarrassingly big rise of gold.  And the embarrassment may be real trouble, since confidence is the corner stone of their con game.

Right.  Gold can never be re-valued. The value of gold has remained unchanged for literally thousands of years.

Only a currency can be re-valued against gold.

The US dollar would need to be revalued to be worth approx. 1/42,000 (or .01 grain) of an ounce of gold.

(Meaning the dollar becomes essentially worthless)

The US economy is extremely fragile.  A butterfly fart could send the whole thing into a tail-spin.

Banks and the smart elites are stockpiling gold as a means of storing wealth to ride out the collapse when it happens.
  
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Jeff
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Re: The Return to the Gold Standard
Reply #173 - Dec 18th, 2018 at 4:19pm
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BobK71 wrote on Dec 18th, 2018 at 12:45pm:
Probably, most people don't understand that the gold standard becomes a problem for the elites only if they don't have enough gold to support their money printing any more, at the *current* price of gold.  If and when the price of gold goes higher, depending on the size of their holdings of gold, it can become beneficial to them.

Sure. They stole people's gold and have been selling it for huge profits for a long time, and how much of people's stolen gold is actually left is a State Secret.
  
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Jeff
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Re: The Return to the Gold Standard
Reply #174 - Dec 18th, 2018 at 4:22pm
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SkyChief wrote on Dec 18th, 2018 at 1:24pm:
Right.  Gold can never be re-valued. The value of gold has remained unchanged for literally thousands of years.

Only a currency can be re-valued against gold.

The US dollar would need to be revalued to be worth approx. 1/42,000 (or .01 grain) of an ounce of gold.

(Meaning the dollar becomes essentially worthless)

Actually Chief, backing a U.S. Dollar with even a tiny amount of gold increases it's value.
  
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Jeff
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Re: The Return to the Gold Standard
Reply #175 - Dec 18th, 2018 at 4:24pm
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SkyChief wrote on Dec 18th, 2018 at 1:24pm:
Banks and the smart elites are stockpiling gold as a means of storing wealth to ride out the collapse when it happens.
Governments have been buying tons and tons of gold for several years now.

Governments aren't necessarily composed of smart elites, but they do have power and they are often greedy.
  
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Jeff
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Re: The Return to the Gold Standard
Reply #176 - Dec 20th, 2018 at 4:25pm
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This is what happens when central banks are empowered to create money-

https://reason.com/archives/2018/12/20/a-deficit-happy-government-may-lead-to-a
  
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SkyChief
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Re: The Return to the Gold Standard
Reply #177 - Dec 26th, 2018 at 3:02pm
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Jeff
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Re: The Return to the Gold Standard
Reply #178 - Dec 26th, 2018 at 3:30pm
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SkyChief
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Re: The Return to the Gold Standard
Reply #179 - Dec 26th, 2018 at 3:47pm
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Jeff wrote on Dec 26th, 2018 at 3:30pm:
Getting rid of minimum wage laws would help too.

Yes, I think that's basically what the meme is hinting at.

Progressive FDR introduced the 1st Minimum Wage law in 1938 as part of the Fair Labor Standards Act (FLSA).
  
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