Fed up Americans have the Last Laugh!

The amount of gold we would need to buy to return to the gold standard would cripple our economy beyond repair.

Trump can arrange no such thing.

The AMOUNT of gold is not relevant, the PRICE is what matters. PRICE would need to be increased significantly.

Wow. Ok. That means you barely even know what the gold standard is: the amount of gold you own absolutely matters. Fractional reserve banking allows us to grow the cash supply beyond the limits of how much gold you have to an extent, but the entire point of pegging your currency to gold's price is that you would then have to back your currency's value with gold you own - and that would require the US to own a LOT of it because our economy is enormous.

That was the entire point behind Richard Nixon taking us off the Gold Standard when the French started screwing with us by having everyone take their gold deposits from U.S. reserves. That was the entire point behind the US dollar being the de facto universal currency after world war 2 - we were holding everyone's gold because everyone was buying supplies from us!

So get that right and you won't find yourself writing that kind of nonsense.

We are right in transition of moving away from a debt based fractional reserve ponzi scheme mikki, it's happening now internationally mikki.

I think it is mikki but in time we all shall see

It really isn't. It really actually isn't.

Your first paragraph would only make sense if the entire world was currently on a gold standard. As I'm sure you are aware, no country currently is. The amount of gold a country holds is only relative to other countries holdings. Oddly enough, the US has the "largest" economy and the "largest" holdings of gold. So the only adjustment would be relative the goods needing purchased (i.e. price adjustment). To comprehend, gain an understanding of purchasing power.

France started removing their gold because they saw the US printing money without increasing gold holdings to maintain backing. This was done to finance the Vietnam War. Remember the "gas wars" of the 70's? That was the prices adjusting from the removal of the gold standard. France was not screwing with the US, the US was attempting the screw over the world with backdoor inflation. Charles De Gaulle was correct in trying to protect his countries wealth.

...his *country's* wealth...

I don't really know what to tell you or what to say to make this discussion productive. This is one of those discussions where we're clearly talking about the same thing but we're obviously talking about it in a directly contradictory manner.

Somewhere in what you're saying, there is an idea that going back to the gold standard would set up a world where every country is out to protect themselves and a cooperative mentality to benefit the economy as a planet is not there, and you think this is a good thing while I think this is a terrible thing - but it's still all a bit pointless while we're looking at the same idea and saying it works in two completely different ways.

But going back to the gold standard would actually cripple our economy beyond repair; and more to the point, nobody in DC wants to, no matter what Q thinks is going on.

I do not believe we are going back to a gold standard. I was rebutting how you stated it is not possible. It is entirely possible with the current amount of gold, it would just need to be re-valued to a higher price to accommodate the devaluing the dollar has been subjected to since the creation of the Federal Reserve.
Example: In 1913 (year Fed Reserve created) one ounce of gold was valued at $22.67. FDR "reclaimed" the gold and then set the value at $35/ounce. Today it is valued at roughly $1400. It is the same ounce of gold, same PURCHASING POWER, yet it has a different price. Similar to when silver was in US coinage. In 1964, and before, a Quarter (25 cent piece) was worth 25 cent. Today that same quarter (from 1964) is worth $2.75 (melt value).

I do not believe the "community" can be successful unless the individual is successful first.

I do not follow/believe in the Q theories.

Though I do not believe it is likely we are going back to a gold standard, I do believe it would be beneficial for the people of the US (or the world for that matter) IF we had a gold standard. Fractional reserve banking, and the slow erosion of purchasing power would be eliminated. Both are wins in my book. Fiat money (what we currently have) leaves the power in the hands of the central bank. IMO central banks are the most evil entity know to man.

First off, fractional reserve banking would definitely still be around as that has been a thing for MUCH longer than the gold standard has.

Second, it DEFINITELY wouldn't end the central bank; the central bank is an important development in the implementation of any currency. To roll the clock back on that would be like asking everyone to stop using refrigeration - you could argue that it'd be better until you were blue in the face but the only reason we have the supply of food we have now is because of it and to roll it back would be a disaster.

No comment on purchasing power? The devaluing of currencies?

Fractional reserve banking has been around longer?! LOL. Please check into that claim. If fractional reserve banking started before the gold standard, what did they use as the reserve?

Now i understand where you are coming from/your state of mind. You are a Keynesian, I am an Austrian. I can't hold it against you for being Keynesian, public school indoctrinated you with that.

Have you ever tried looking into supply-side economics? or even the Chicago school of thought?

It would end the central banks, no question. You are correct in stating the central banks implement CURRENCY. If we had gold backing we wouldn't have currency, we would have MONEY. Two very different things.

Can't wait to see The Bank Of England and The FED etc All Fold and and The Fraudulent Markets be fully exposed in the LIGHT Those WOTSITS and Legalised Gangsters What A Bunch of Sociopaths they all must be, it's gonna be Great Great GREAT imo, down with the Scumbags and Villains and all of The Banksters running this sham, Lock'Em'All'Up I Say.

I'm hoping your lack of timely response is because you are fact checking my claims. At least you are learning something then. I'm leaving the office for the weekend, I'll leave you with this quote from someone I am assuming you despise, "Its not that you know so little, its that you know so much that isn't true". Learn something new everyday, hopefully you have completed today's lesson. Enjoy your weekend Mikki.

Sounds as bad as all the old gumph they taught me in banking exams. The worlds changing fast that old babylonian systems gone mikki watch.

I think you might like this Book Mikki and catch up. Its just paper and digits and not worth the plastic or paper its printed on Mikki and a big reset is imminent imo it will be HUGE I think and been coming for several years now in slow motion its been clear as to see as an oncoming juggernaut for at least 5 really obviously I feel mikki.

Have a good weekend all wishing all'a'yalla blessed one.

You have silver and copper too.

And Palladium and tin and zinc among many things.

Using silver for money directly led to the Opium Wars. That's when we had to switch to gold.

Commodity money does not work. It was an old idea that we had to abandon. Nobody wants to go back.

Yes my country was Awful during that simply Awful, but it wasn't my generation, peg it to crypto some way perhaps as one of a few ways. Anyway, imo this current systems going to hell in a hand cart as they say. It's done.

You don't understand. It wasn't the times. It wasn't the generation. It was the silver. All our silver was being traded to China because that was our money, and because we weren't digging silver out of the ground ourselves, we were running out because China wouldn't import anything from us.

We were running out of money just because one country decided to sell but not buy.

The only way we could protect our money was to get China addicted to opium so we could trade opium for silver.

When that didn't work, we went to war and captured Hong Kong.

When THAT didn't work, we switched to gold money and made everyone else do the same.

When THAT didn't work, we finally realized what we should have done in the first place: realized that gold and silver aren't even that important - they're just shiny things; what's important is the faith we put into them. And we can do that without gold or silver; we can do that with bank-backed paper; or even possibly with one's and zeros.

This is good and you might like it morning :)

https://www.youtube.com/watch?v=V7wTENaRFW0

Your links are trash.

Oh well each to their own MIKKI wishing you a blessed day now and Psalm 23 and all that on Funday.

Sincerely

Jc

Your friendly tone doesn't make up for the harm you are participating in.