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Why do people like the gold standard? It's a sham

Money should be left to the market. Trusting politicians to adhere to a gold backed currency is insane. Politicians throughout history have only defaulted on the gold standard, oh 100% of the time!

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$ilver bump

$ilver

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That's like saying, why have

That's like saying, why have laws against murder. People commit murder anyway.

The Gold Standard will give us honest, stable money. The fact that criminal politicians might try to default on redeeming certificates, or steal the gold as they did in 1933 is not a good reason for speaking against the Gold Standard.

What an inane question.

What an inane question. People "like"(wtf?!?!?) the gold standard because its historical record provides us with ammunition in support of competing currencies.

Ventura 2012

Because Gold is Far Better Than Nothing

And it's already the law.

uh

because the market, not the politician or legislature, continually picks gold (and silver) throughout recorded civilization (about 100% of the time) as the premiere universal medium of exchange.

See Radford's Economic organization of a POW camp for an illustration in what difficulties a subpar market-chosen money can lead to. http://www.albany.edu/~mirer/eco110/pow.html

The real question is why is the politician still in the picture?

Statism is the ism.

Here Is Something I Was Taught Long Ago!

A persons time on planet earth is the "Most Important" thing a person has.

So, how does this relate to Gold and money?

Well, if I'm trading some of my limited time on earth for pay, wouldn't I ///shouldn't I trade it for the most value I can get for myself?

Should I trade for a paper I.O.U. note that's historically lost value, or should I trade for something that has proven to withstand all weather conditions worldwide, has universal value, and been accepted in many forms as a trade able item for something like 6,000 years?

Gold used as money is not a sham,,,using paper that changes in appearance every few years and constantly loses value is the real sham.

Take the control of Gold out of the bankers and governments hands, by buying and storing it till the time when governments of the world bankrupt themselves through greed !

beesting

Nice one!

Nice one!

Cha Ching!

...

I agree.

Guys...

I suggest YouTubing "money as debt" and watching all 5 parts. Turned me off to the gold standard after seeing that.

I want gold, not a gold standard

a gold standard implies continued use of paper money. No thanks. Give me the real thing-gold. There is a reason it is in our constitution. To keep things like what we have now from happening.

there is nothing wrong with

there is nothing wrong with paper money as long at is backed. when it is backed by gold they can print so many more paper notes when they have enough gold to back those paper notes. The problem is the evil bastards in CONgress.. they are the ones who debase the money.

“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul

Anyone with the power to issue "promises to pay" or "warehouse

receipts" or "bank notes" alegedly "backed" by anything will ALWAYS issue more paper than commodity. ALWAYS. This has NEVER failed to happen.

The only solution is the one the Constitution lays out in Article 1 § 10 where it prohibits anything but Gold and Silver coin being declared a tender in the payment of debt. Sure there are arguments for a market based solution, but the whole reason that prohibition exists is because the market had long ago settled on Gold and Silver coin as proper money. We could probably amend that today to maybe include platinum and possibly palladium.

as long as the paper is

as long as the paper is backed by gold or silver, and you could walk into a bank and exchange those paper dollars for gold or silver coins there is no problem.
but as someone said above. the evil bastards in CONgress make it so this sytem won't work. When they realize they can print paper to pay for their campaign promises or wars they pring(counterfeit) at will. We the people did not hold them accountable.

“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul

Huh? There is nothing good about paper money

first is it not money at all. It is a promise to pay. and we know how that works.

No, there is nothing good about paper notes. I want the real thing.

not if you can walk into a

not if you can walk into a bank and exchange that paper for gold or silver.

“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul

Yep..and there was to BE no

Yep..and there was to BE no other country LIKE the US in the World. So we were supposed to stick to REAL money, as part of the way to keep a federal government in check.

a better question

I asked the same question in a more detailed way... and got a few "eye-opening" answers... hope it helps you on your path:
http://www.dailypaul.com/node/119097

There are

two gold standards. One where gold backs the currency and the one of the Constitution that says only gold and silver coin are money.

You're right. Money should be left to the market and that's why Ron Paul is trying....again...to get the competing currency act passed.

Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!

A gold standard is far better

A gold standard is far better than the print at will printing press they use now. A gold standard, at least in theory, stops the "don't worry we can print more" mentality.

However, even better than the gold standard... Would be doing exactly as the Constitution says and that is to use coins. Even better if those coins are actual gold and silver. If we only use gold and silver coins valued based upon the exact amount of gold and silver in those coins...Well it would hard for that to be sham.

Of course I am dreaming. That will never happen. *SIGH*

Which takes us back to gold standard. Guess that's why we are for it. Far better than what we currently have.

Ron Paul 2012 - It's Almost Here!

It was the Gold Standard which brought us to the point of

paper currency as de facto money.

It isn't better than what we have now - it LEADS to what we have now.

Bimetallism is much better, and not as a standard, but as you noted in actual circulating coins.

Using gold ans silver coins is not a "gold standard"

Gold standard is the term to refer to the backing of a nation-State's currency by gold.

You might be arguing

semantics here... People will have different opinions on this.

I know what our Constitution states what money is, and combined with past monetary acts, what a dollar is, but sure...it doesn't specifically say gold and silver coins were a gold standard, however gold and silver coins were the standard at that time and other times since, intermixed with some Continentals and other scrip.

The Rise of the Gold Standard, 1660-1819

Covering the period from the mid-17th century through to the British Government's decision to allow the free exchange of gold, and presenting documents, primarily from the UK, that relate to the establishment of gold coinage as the centrepiece of the British financial system. The documents contained here address four themes: the legal position of gold coinage; popular views of gold; technologies of gold coinage; and early theoretical evaluations of the gold standard.

http://www.reserveasset.gold.org/monetary_history/key_docume...

The Heyday of the Gold Standard, 1820-1930

Covering the period from the establishment of the UK gold standard in the early 19th century until the re-establishment of the gold standard after the First World War. Three themes are dealt with: the legal position of gold in the currency systems of the major western nations; political debates over the role of gold; and international agreements relating to gold. Continental European monetary arrangements are covered in this section, as are several major international agreements from the late 19th and early 20th centuries.

http://www.reserveasset.gold.org/monetary_history/key_docume...
After the Gold Standard, 1931-1999

Covering the period commencing with the breakdown of the post-WW1 gold standard in the 1930s and concluding with the Central Banks' Gold Agreement (Washington Agreement on Gold) of 1999. The documents follow four themes: the collapse of the gold standard; legislation, primarily from the US, relating to gold; the international gold market; and international agreements relating to gold. An account of some of the activities of the London gold market is included. The ultimate collapse of the Bretton Woods system is covered in great detail with numerous documents from various official sources.

http://www.reserveasset.gold.org/monetary_history/key_docume...

Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!

arguing semantics is the GOAL

arguing semantics is the GOAL here, unfortunately.

Ventura 2012

I gotta say...

it's better than pure fiat or fractional money. It will outlast them.

Government will always eventually mess it up though.

Because its

a trick, pay(atrickpay) up, preferrably in gold or silver!

Actually its not a sham the govt is!

Maybe because Ron Paul likes it because its in the Original organic Constitution!?

Why should you worry we are not currently on a Gold Standard are we?

reply

Why should you worry we are not currently on a Gold Standard are we?

Duh, because people advocate that we return to it.

people like who? Ron Paul and

people like who? Ron Paul and the Misesians all advocate competing currencies.

Ventura 2012

Even grassroots money needs a little faith behind it.

“There can be only one permanent revolution – a moral one: The regeneration of the inner man.” - Tolstoy

"The truth is that the State is a conspiracy designed not only to exploit, but above all to corrupt its citizens ... Henceforth, I shall never serve any government anywhere." - Tolstoy

And never forget, “Humans, despite our artistic pretensions, our sophistication and many accomplishments, owe the fact of our existence to a six-inch layer of topsoil and the fact that it rains.”

Everything

Should be left to the market. When has government EVER limited itself to its supposed "proper function" of protecting our lives, liberty and property? And has it EVER failed to immediately become the greatest threat extant to the lives, liberty and property of its slaves -- er, citizens?

Gold makes good money. Government makes good . . . uh, good . . . I'm thinking, don't rush me . . . thinking . . .

Recommended reading: The Most Dangerous Superstition, http://www.amazon.com/Most-Dangerous-Superstition-Larken-Ros...

That's right, we just want freedom.