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Very Hot Topic (More than 25 Replies) The Gold Standard as Orthodox Faith A Century Ago (Read 563 times)
Jeff
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Re: The Gold Standard as Orthodox Faith A Century Ago
Reply #20 - Mar 9th, 2019 at 4:50pm
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SkyChief wrote on Mar 9th, 2019 at 12:42pm:
Then why do you suppose there is such a rush to repatriate gold bullion?
Because they'd rather have gold than piles of fiat currency.
  
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SkyChief
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Re: The Gold Standard as Orthodox Faith A Century Ago
Reply #21 - Mar 9th, 2019 at 5:05pm
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kaz wrote on Mar 9th, 2019 at 2:40pm:
I'm entirely in favor of that happening, but you're completely pulling it out of your ass.  None of those governments are going to agree to stop stealing from their people any more than ours is.  Dream on.  The gold standard is in the favor of the people.  It stops their government from stealing from them. No government is going to do that to themselves.

Again, buying gold in no way means that you're going to the gold standard.


Quote:
There have been efforts to replace the dollar as the reserve currency for some time – China even blamed the dollar’s international role as one of the causes of the financial crisis in 2008. The problem is that no other currency has stepped forward as a good replacement.

What’s changed? The weaponization of the dollar by Washington. When Trump re-imposed sanctions on Iran last week, he warned that any company doing deals with the Iranians in dollars would also be subject to sanctions. Several Russian companies are also under U.S. sanctions.


https://www.forbes.com/sites/charleswallace1/2018/08/14/are-russia-and-china-try...

Quote:
It is clear that many nations are redefining their sovereignty in terms of where the dollar sits in relation to their respective economies. In this manner, specific countries are asserting national sovereignty is to progressively abandon the dollar, which for decades has been the world’s main reserve currency and the medium of exchange for trade in oil, copper and other vital commodities.

http://www.arabnews.com/node/1386141

It's just a matter of time until a new International Reserve Currency emerges. 
  
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kaz
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Re: The Gold Standard as Orthodox Faith A Century Ago
Reply #22 - Mar 9th, 2019 at 5:09pm
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SkyChief wrote on Mar 9th, 2019 at 5:05pm:
It's just a matter of time until a new International Reserve Currency emerges. 


Your links didn't support that anyone is going to the gold standard.

And that could well be true the US is .  path to no longer being the international standard.  The problem is our deficit spending is so extreme it's going to catch up with us.  And the Democrats want to put deficit spending into warp drive.

But none of this supports that the rest  of the world is going to be responsible, they're not.  We're just rushing to destruction faster than they are right now.

skychief.  OMG, there was a line at the supermarket today.  How do you explain that other than a meteor is about to destroy the earth!
  

Contest winner:  I predicted Kaz' meltdown
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SkyChief
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Re: The Gold Standard as Orthodox Faith A Century Ago
Reply #23 - Mar 14th, 2019 at 1:54pm
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kaz wrote on Mar 9th, 2019 at 5:09pm:
  The problem is our deficit spending is so extreme it's going to catch up with us.  And the Democrats want to put deficit spending into warp drive.

As long as Congress can use tax money to pay the interest on the debt, there will be deficit spending.  The sky is the limit!!    Grin    Grin    Grin

In anticipation of a world reserve currency upset, some investors are now buying Yuans.

https://www.thebalance.com/yuan-reserve-currency-to-global-currency-3970465
  
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Jeff
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Re: The Gold Standard as Orthodox Faith A Century Ago
Reply #24 - Mar 14th, 2019 at 2:02pm
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SkyChief wrote on Mar 14th, 2019 at 1:54pm:
As long as Congress can use tax money to pay the interest on the debt, there will be deficit spending.  The sky is the limit!!    Grin    Grin    Grin

In anticipation of a world reserve currency upset, some investors are now buying Yuans.

https://www.thebalance.com/yuan-reserve-currency-to-global-currency-3970465
Currency speculators will buy anything, hoping to profit from exchange rate fluctuations.

If you trust the Chines Communist Party, you should buy their fiat currency and hold it long term. Smiley
  
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SkyChief
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Re: The Gold Standard as Orthodox Faith A Century Ago
Reply #25 - Mar 14th, 2019 at 2:05pm
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Jeff wrote on Mar 14th, 2019 at 2:02pm:
Currency speculators will buy anything, hoping to profit from exchange rate fluctuations.

If you trust the Chines Communist Party, you should buy their fiat currency and hold it long term. Smiley

I would never buy any foreign fiat currency.

I prefer physical gold & silver to store wealth.
  
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Jeff
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Re: The Gold Standard as Orthodox Faith A Century Ago
Reply #26 - Mar 14th, 2019 at 2:18pm
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SkyChief wrote on Mar 14th, 2019 at 2:05pm:
I would never buy any foreign fiat currency.

I prefer physical gold & silver to store wealth.
You could have a plan- First, get rich speculating in fiat currencies, then buy a lot of gold and silver... It could work. Smiley It helps if you have insider information from Central bankers...
  
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