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Why Did Ronald Reagan Kill off The Gold Standard reform?

In the debates last night, Ron Paul mentioned that Ronald Reagan had said that "no great Nation ever went off the gold standard".

But what happened once Ronald Reagan actually became President in 1980?

He did indeed appoint a special "Gold Commission" to study the issue of monetary reform. But his commission was overwhelmingly packed with lifelong opponents of Gold.

Nothing ever came from this commission as they essentially killed the idea of any change in monetary policy.

So the question is why did Ronald Reagan allow this to happen?
Did he really want to carry out monetary reform or did he just want to swat away any movement to actually do something?

There were two fundamental reforms the Reagan Administration could have proposed to end our Age of Inflation. First, either the abolition, or the brutal checking of the Fed. But Nothing was done with Fed policy. Second, the Administration could have followed Reagan’s campaign pledge and reinstituted the gold standard. But the Friedmanite monetarists appointed by Reagan hate gold with a purple passion and wish all power to government fiat money.

The Reagan Administration briefly flirted with the supply-side notion of instituting some form of phony gold standard, where the dollar would not really be convertible into gold but would cloak its decaying corpus in gold’s well-earned prestige. For a while, it looked as if a phony gold standard would be the Reaganite diversion from the realities of grinding recession, zero economic growth, high interest rates, almost double-digit inflation, and huge $100 billion deficits. But this was not to be, and Reagan has clearly given the green light to the packed Friedmanite majority and staff on the U.S. Gold Commission to reject the gold standard out of hand and to continue the same old monetary status quo.

Had Ronald Reagan been sincere about monetary reform, he would have appointed monetary experts like Ron Paul on the commission.

Ronald Regan betrayed his own words as well as his supporters like Ron Paul.

But why?
Does anyone know the answer?

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I thought Ron Paul

served on the Gold Commission did he not?

They did manage to start minting Gold and Silver coins again, but only for investment purposes. Sure, they are legal tender, but try to get the average clerk to understand that a FRN is worth 2 cents and that you should be allowed to pay say $1 in silver for 17 'dollars' worth of goods. Fat chance. While there are significant tax and regulatory benefits to using these coins as their face value is very different from paper and token coins, doing such for that reason alone will get you a visit by the G boys. Sure, one guy and his company did get off on such charges, but don't think the government will make the same mistakes twice.

We need REAL competing coinage. Either Congress needs to restore the silver and gold coinage we had in 1965 and 1933 respectively (along with a real silver dollar) or base everything off the current 'eagles' program based on troy ounces. If we do the latter, we need fractional ounce silver coins and a return of the copper cent. That, and people will have to learn to set two prices - one for FRNs and the other for REAL Dollars. But I doubt that will happen other than by necessity during economic collapse.

Why? Because reagan was a

Why? Because reagan was a sell out that's why. That's also why RP did NOT applaud reagan last night.

Reagan did more for the cause of socialism than most other democrats. The debt that reagan laid on this country will continue to be felt for a long long time.

Ron Paul ain't no ronald reagan, thank G-d.

The world is my country, all mankind are my brethren, and to do good things is my religion. Thomas Paine Godfather of the American Revolution)


kill IT.... or be KILLED! Oh, they did try that didn't they?

Does my burka make my butt look fatwa?

Honest banking!

Actually Nixon was a genius for finally taking us completely off the gold standard from one point of view. We have literally exchanged paper for all the products which have been imported into the States from China and the rest of the world for the past 36 or so years. The problem is that we have to maintain an army around the world to force countries to accept the paper.
The bad news is that in exchange most of our big companies and technologies have gone abroad as well. So in the current situation changing to a gold standard will require that American start buying American. Otherwise American gold would start leaving the country instead of paper. This is one arguement for having a duel system to slowly adjust back to the gold standard, the paper Federal dollar to exchange abroad and real money to exchange within the united "States" of america. Of course companies in this case would want to come back to the States to produce, since they certainly wouldn't want paper, and other countries would have to come up with gold to purchase items from businesses in the States. I can't imagine anyone wanting to accept Federal dollars in the States instead of gold or silver, since it would be Un-constitutional and against the law. One way I would suggest for the reintroduction of gold into the system would be for the government to pay all internal debt to Americans in gold (from Fort Knox of course, which was stolen from Americans to beginwith). This of course would primarily include Senior Citizen Social Securtity checks. Of course the Federal dollar in a short time would essentially become worthless, which it is already, and lead to the financial callapse of a corrupt banker's system and return us to an honest banking system and honest bankers, if any can be found!

It makes sense if you realize Reagan was a stooge.

He was a puppet, and the people pulling his strings was his wife, Nancy and George H.W. (Big Daddy) Bush. Guess who they worked for?

I agree

read the last of JFK's executive orders before his assasination, you can find it online. Then watch his assisnation video...you'll get the idea.

G. Edward Griffin has debunked that...

but I still see it being referenced a lot.
Read up here for Griffin's take
Let's get Badnarik, Lawson, Paul, Santoro, and Terbolizard elected to office in '08!

I agree

read the last of JFK's executive orders before his assasination, you can find it online. Then watch his assisnation video...you'll get the idea.

I agree

read the last of JFK's executive orders before his assasination, you can find it online. Then watch his assisnation video...you'll get the idea.

One Assassination Atempt Was Enough

He wanted to live. That's my guess.

He could not and defeat the soviets

gata (www.gata.org) had and excellent essay are few years ago about what Canada needed to do to sure up the Canadian dollar. It was full of interesting historical facts about gold and the Regan era. Regan (with the help of Canada and Countries) by manipulating gold and other natural resources bankrupted the USSR. Regan also sent a few missiles as presents for leaders who where demanding Gold as payment.

Though inflation and force Regan made other countries keep excepting dollars as the worlds reserve currency. This is how we bankrupted the soviets.

I believe it works something like this.

Gold price rising = dump a bunch of Canadian gold on the market.

Gold sinks to a new designated low = print more money and buy back Canadian gold a cut rate prices.

Repeat above steps.

Back in Russia: Comrades the good new is gold production is up 10%, the bad news is that is costing us more in equipment and worker compensation that we can get for it on the market. There just seems to be an excess of world gold production right now.

Every PRESIDENT Since 1963 has had to deal with the

CFR,,,,,,,,,,,,,,Reagan No EXCEPTION

According to Bob Novak

From page 421 of Robert Novak's autobiography The Prince of Darkness (on gold): He states;

I asked Reagan: "What ever happened to the gold standard? I thought you supported it."

"Well," the president began and then paused (a ploy he frequently used to collect his thoughts), "I still do support the gold standard, but--"At that point, Reagan was interrupted by his chief of staff. "Now, Mr. President," said Don Regan, "we don't want to get bogged down talking about the gold standard."

"You see?" the president said to me, with palms uplifted in mock futility. "They just won't let me have my way."

Don Regan former CEO of Merrill Lynch

Yes, I know the answer.

Yes, I know the answer. Ronald Reagan was as phoney as a fifteen cent piece. Oh sure, he made all the right noises and made a whole bunch of promises, but he was all about politics as usual. He was never about anything else. Ever. That should have been obvious just from looking at the proposed cabinet members. He was never about doing anything to change how the USA does business, and we see the results today.

The "Gipper" was never anything more than a B actor, and a senile old fool. His only accomplishment was in proving Lincoln wrong: you really can fool all the people all the time. I didn't trust him then, I don't like him now, and he is no sort of hero to me.

I'm fresh out of witty sigs

I have AT&T internet...

...so they censor out information like this for me:


You don't have permission to access /whorulesamerica/power/bg_photos/reagan_nixon_1967.jpg on this server.

Wierd - the link is now blocked

Looked at it 10 minutes ago.

Try this link - works ok now, the picture is embedded near the end of the article

May just be a directory traversal issue?

probably not

that's most likely not your isp doing that. it's the website you are trying to visit. they probably have hotlinking disabled or some kind of htaccess rule on that image to prevent you from seeing it.

American Eagles came from the gold commission

I think the gold commission did result in the authorization for the US mint to coin 1 troy oz. gold and silver coins to be sold to the public. This was a small attempt to get gold and silver (real money) into the hands of the public, but unfortunately the IRS saw fit to tax any change in the value of these coins relative to fiat money whenever they were converted back to fiat (sold) mitigating the value somewhat.

When you consider the power of the banking industry, I am surprised that even the American Eagles were permitted.

Ron Paul is only touching the surface of the Federal Reserve / Banking Industry scam. I suppose that is because you need to be a CPA to really understand how the system works, and it would be extremely difficult to communicate much more than the idea that printing up new money by the Federal Reserve diminishes the value of the money, resulting in a constantly increasing cost of living.

If he could explain how your local bank creates money out of thin air and then loans it to you at interest, maybe there would be a greater reaction from the public which directly or indirectly pays huge interest to these banks each year. Granting the privilege to these banks is equivalent to granting them immunity to the crime of counterfeiting.

Ever notice that you can drive through a poor rural town and the bank building consistently looks to be the best in town. That is because they are extracting the wealth of the local residents through this fractional reserve / debt issued money scam. It just goes to show that the best scams are those right out there in the open that are so complicated that very few can figure it out, and where the government and scam artist are in collusion.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

Re: Reagan and the gold standard

Reagan did not take us off the gold standard; Nixon did. As to your assumption that Reagan did not restore the gold standard; he did. Please read the 1985 gold coin act (especially the comments from the House floor) which Reagan signed into law. Congressman Phillip Crane expains in detail that the U.S. government has now restored the ability of people to use gold and silver coin. It is now the responsibility of We the People to use the legal and lawful money that the Constitution guarantees us. I've been doing it for over ten years now. Back in 1997 a fifty dollar gold coin was worth @ 270.00. Now it is worth well over 900.00. I'm not an expert on economics but the Federal Reserve Notes are worth #@&*. Please use the gold and silver coin in all transactions.

Nixon is the 1 who took us

Nixon is the 1 who took us off the gold standard in August of 1971.. the reason was because they could not print money fast enough to pay for the Viet Nam war. with having to have a certain amount of gold in the vault to cover every single dollar printed, it restricted how much money they could spend.. this is why inflation roared in the mid to late 70's..

nixon took us off it because the arabs were cashing in

for gold .the problem was the printed more money than they had

"All tyranny needs to gain a foothold is for people of good conscience to remain silent" Thomas Jefferson

"All tyranny needs to gain a foothold is for people of good conscience to remain silent" Thomas Jefferson

who was VP ?? yeah that´s

who was VP ?? yeah that´s right

Well, it could be that

a chunk of lead inbedded in the chest could have some kind of biological affect on brain function. Maybe if the bullet would have been gold instead of lead it might of had a different affect?

"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence

Don't forget a back room

Don't forget a back room deal was struck when Ronald Reagan won the primaries over Geo. Bush Sr. They had a meeting and emerged announcing, surprise, Geo. Sr was to be his running mate. Everything RR promised ended then and there. He had promised to get us out of the UN, but we didn't. Etc, etc, etc. The fix was in and still is.

Why didn't Reagan replace Bush Sr. in 1984?

Was Reagan a willing captive to GHW Bush?

If he was not, then why didn't he later replace GHW Bush (who knew the Hinkley family very well) with a real VP of his own choosing in 1984?

After all, Reagan was poised to win re-election in a landslide in 1984. At that moment, he no longer needed GHW Bush or the backroom GOP deals to succeed in maintaining his power ... and by doing so, he would have actually strengthened it (and possibly avoided Iran-Contra as well).

This is more easily explained, only if Reagan was himself a sell-out and willingly cast his lot with the Bush-Rockefeller crime syndicate.

look up CFR!

look up CFR!

That is what I think too.

I suspect Ron Paul knows the answer to this, but I suspect Bush Sr. was at the helm of all those CIA adventures and the other scandals that marked the Reagan era. I still think Reagan was for the right things but his overlords prevented him from effecting his true agendas.

Because he was told to

The bankers that run the Fed are in charge. They call the shots and tell every President what to do. The only one who has come out against them in a campaign is Ron Paul. I campaigned for Reagan way back when. He was a good man with good intentions for limited government, but imo once he became president he was manipulated. Ron Paul is more libertarian than Reagan, so I really think it would not happen to him.

Oh, yeah I forgot. He got shot, but survived. After that, he did what he was told.

“The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion.”
― Albert Camus

Very Sad..

I think you are correct, but it is very sad to think that even a strong figure once taking the reigns of power - cannot use his power to at least educate and warn Americans about the resistence that they face.

That way, if he is ever assassinated, everyone will know the truth, and no "Oswald/lone-gunman" lies can fool the public.

The public would rebel in a huge way at that point.

Andrew Jackson also survived assassination and he kept on fighting.
Jackson lived to proudly declare "I killed the Bank".

I want to see another U.S. President who will also do this.
They can protect themselves by educating the American public (most of whom no absolutely zilch about the Central Bank & Oil/War/Bank-complex takeover of our Nation)