Beware of Gold Backed Currency and a huge mistake our movement could make
I thought this was real necessary to bring up.
I was watching the documentary "Money Masters" and toward the end they talk about this fact:
"The IMF (International Monetary Fund) owns approx 2/3rds the world's gold supply"
and
"Watch out for the trap of politicians coming forward and offering a gold backed currency as a solution to our problems"
Fact is, if it is true that the IMF aka the world bank owns 2/3rds the money supply and we back our money with gold. Manipulation of the currency value and a crash of our economy could be very easily manipulated.
Based on this, minding this is the actual reality. I am really bothered seeing these Pro-Gold websites or the pro-gold influence on this movement. Maybe we are being set up here.
Then I remember a saying:
"The best way to deal with opposition is to control it" which i believe stalin said
I'd definitely like to hear your take on this. Or if anyone dug up any research or facts on this.
If only 5% of the ron paul movement is aware of this the rest will buy the gold line hook line and sinker because gold is what is being pushed hard in this movement. Not pointing any fingers as to who is the heaviest influence but nevertheless a big theme here.
Gold ownership
My thoughts on this. Its a matter of who 'owns' the gold. The IMF is one of the hydra heads of the U.N. which is connected to the WTO and its agents at the Council on Foreign Relations, Bilderberg, Tri-laterals.
All of these organizations, including the Federal Reserve, is heavily influenced and controlled by the Rockefeller/Rothschilds ownership of private shares in the Federal Reserve.
So if the IMF 'owns' 2/3s of all the gold/silver outstanding, it is reasonable to assume there would be incredible manipulations just as with the dollar. This is the consequence of 100 years of allowing a private central bank to have complete control of our monetary system without oversight!
Though I purchased silver eagles this past year, I know I overpaid on them but I got them as barter in case of crisis. If the price drops significantly, I will simply purchase the same amount at the lower price effectively averaging down my total cost. The best one can do, I think. For me its a long term non-speculative reserve of my own.
I believe when Dr. Paul talks about gold-backed dollars, we have to assume he is suggesting this 'as though' the Fed is abolished along with IRS and the entire monetary system functioning within the U.S. Treasury department like it should be and be under complete oversight of Congress. If I am not mistaken, he is speaking from that perspective in his book, 'The manifesto'.
Otherwise, naturally we would not want any gold backed paper bills in circulation unless all these Federal Reserve tentacles were severed. Those involved in the 'ownership' of the Fed should be prosecuted under RICO and all assets confiscated to the U.S. Treasury.
I too have that 'sinking feeling' like we are being perhaps 'set up' to lose. Who knows. It could be possible. If there is strong demand and especially gold/silver stocks are low that's a no brainer for prices to rise significantly, unless someone or some country is dumping huge reserves on a daily basis because it takes time to 'absorb' into purchases. It just doesn't make sense otherwise.
I haven't read this anywhere, but I have a strong feeling Russia and even Iran may be selling their gold/silver reserves to buy raw materials to produce weapons???? Just a thought. It was right after Georgia invaded Russia, that the prices of gold/silver took a nosedive. I know in the 1980s Russia had the largest tonnage of gold at that time. I'd like to hear what others think on this.
The IMF owns less than 1% of
The IMF owns less than 1% of the worlds gold. Look down the thread.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
gold is a beginning-because there is a ceiling.....
right now, the federal reserve can print as much money as they can,
they can put out loans to everyone on the planet, from corporation bailouts to forced loans/aid for sovereign nations[who force these nations to politically compromise for the benefit of their corporations]; and to give wages to troops to continue more war,purchase more weapons for the governments, heighten the warmongering rhetoric.
if gold is set as standard again, these will be reigned in at the least---the wars they get to finance will be limited, limited to how much money is worth in the gold in their hands. if they have 2/3 of the gold, then, that is all the war they can afford to start, they will have to divide it,budget it between loans and aid to foreign governments,war expenditures,corporate bail outs,etc.
the situation now is totally different. whatever they come up short-they print, and the more they loan out, those who get it first,has the exact value of that money,but as it goes down the line, from the banks to the corporation, corporations to the people, between people-services and goods---the value is so low, that paying for them requires more of the same debased money.
the moneymasters video was my first out of the matrix video-and it is right to the letter. but gold as backing will undo a lot of the capabilities, cut off and limit the hydra heads of the bankers. lesser power, means a weaker enemy to fight
How about the current system without interest?
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
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I think it would be pretty good.
government of the people, by the people, for the people
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Actually, you must consider
Actually, you must consider several things, a non-interest weighted fiat currency would still be in the hands and under the complete control of banking and political elements. It would still be able to be inflated just as the FRNs that we have now. Additionally, there is no way for non-interest weighted fiat notes to be assets since there is no asset backing them, nor would the be property of the bearer.
The purpose of gold and silver is far more than a mere economic means of exchange, it is a fundamental support of not only private property rights, but it is a standard that supports the entrie Constitutional ideal of individual rights. It is an indespensible bulwark against government abuses. If we are simply looking at gold and silver money in an economic sphere then we are missing what is perhaps the most important role of sound money.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
This is an interesting point
It is entirely possible that we could have a fiat currency that simply doesn't inflate and maintains a steady supply. Then people would be able to perceive the true state of the economy more easily, without all the inflation manipulation. It would make them better citizens and voters. It would also circumvent the gold issue and prevent people from wasting their lives in the pursuit of gold mining. The problem is, who could we entrust such a currency too?
It is possible to have a
It is possible to have a fiat currency that does not bear the burden of interest upon its creation, but even at that, it would still be subject to inflationary abuses by the government. Additionally, since nothing would back or support the value of a non-interest weighted fiat currency, you would still have to have the same mechanism used in our current fiat system and that is DEBT creation.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
The constitution doesn't require a monopoly for currency.
Keep in mind, that while the government is prohibited from issuing anything other than coinage, the constitution says nothing at all about private organizations issuing currency backed by commodities, kilowatt-hours, or anything else. If there's not enough gold to go around to conduct routine, day-to-day financial transactions, we'll use alternatives.
-jcr
"The problem with trying to child-proof the world, is that it makes people neglect the far more important task of world-proofing the child." -- Hugh Daniel
Gold, Silver and the RNC
Gold, Silver and the RNC
A little thought experiment will help explain why bullion buyers are not having the influence they should on the spot price of metals. Think of Comex as the RNC national convention. The amount of bullion on deposit is like the amount of delegates on the floor of the convention. Every delegate or bullion owner within the system gets a vote per oz.owned. Would-be delegates outside the system, do not get a vote because their metal position is not in the system. Sort of like a non registered voter.
If you think the Comex system is corrupt, the only way to change it is from within by purchasing the bonded warehouse receipts of the underlying gold and silver within the Comex system. But here is where the problem lies.
Assume for a moment you have 100,000 ozs. of silver within the Comex system stored within bonded warehouses. You like silver long term and would like to add to your position without taking more money out of your pocket. What would you do? The only smart thing to do is sell short against your own position.Why? Because if you are long 100,000 ozs., and short at today's market price of $12.00 one of two things will happen:
1) The price goes higher and you keep the premium for the short contracts and your long position stays the same. ( eventually you have enough premium to add to your position).
or
2)The price goes down, you deliver your long position and you can buy back your position at a lower price ( plus add to your position the difference between where you sold and where the new lower price is).
eg: sold 100,000 ozs at $12.00 and bought back 120,000 ozs at $10.00
And this is the most basic trading strategy. The boys on Wall and LaSalle streets have come up with many more exotic ways to play this position with hedges, straddles, and the like. Not unlike the old guard playing with votes at the RNC. The bottom line is you can not change the system from the outside.
If gold and silver are
If gold and silver are monetized, there would no longer be the possibility of such manuvers. As long as they are commodities and commodities only, then yes, they will continue to play the market game, working its weaknesses, but once gold and silver are monetized the game is very different, with rules that don't bend to such manipulation. We are looking at a market that is governed by fiat, with fiat rules, twist and turns that can be as easily flexed as any other commodity. The difference would be the monetized circulation of gold and silver, once it is in circulation the market dynamics change drastically and is basically leveled out.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
So far the only one I have
So far the only one I have heard of is teh guy in Nevada and the IRS didn't get single conviction in something like 116 counts. But some of them the jury were hung on so I am sure the IRS will try again and try and get a different judge to railroad the guy.
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Is that the guy who was
Is that the guy who was paying his employees with gold and silver, using the face value as the accounting base for taxation?
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
Yeah, that's the one.
The one big hazard I see for him is that the government might be able to screw him with the minimum-wage laws.
-jcr
"The problem with trying to child-proof the world, is that it makes people neglect the far more important task of world-proofing the child." -- Hugh Daniel
The Federal Register is so
The Federal Register is so massive, a self-perpetuating monster, that there is a law, an act, a regulation for just about anything you or I could imagine. Even the regulators don't know everything that is in the Federal Regs, and one might translate one law one way, another one another way. Ambiguous law kills Liberty, defacto law is the enemy of Freedom and Prosperity.
The only good thing about the Federal Regs is that they can be used against THE STATE itself, there is so much in there, so much fog that if you are wise you can use it against the authorities themselves.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
This movement should stick to the
Constitution
Which stipulates that Congress has the power to COIN money, and that NO STATE shall make any thing except GOLD AND SILVER COIN a tender in the payment of debt.
The Congress does not have the power of legal tender laws, the states do, and they are limited to Gold and Silver COIN only.
The founders debated prohibiting Congress from issuing bills of credit (aka paper currency) but it was thought that even mentioning it would later be construed somehow to grant the power in some convoluted way so they left it out and specified the word COIN in both the money and the legal tender clauses.
We just need to get back to Gold and Silver COIN in circulation - not paper supposedly 'backed' by such coin. There is no provision for currency as opposed to coin in the Constitution.
As a side note, we should perhaps monetize platinum and palladium as well to ease the transition back to specie. (via a constitutional amendment of course)
controlled gold prices
affirmation: President Paul 2008
the problem these folks are going to run into is that they comprise less than 1 or 2% of the population... I think if we start eating them for breakfast this 'control' issue will not be an issue...
affirmation: President Paul 2008
combined standards
Firstly that would only manipulate the external exchange rate of dollars to gold and it would be artificial and market pressures would quickly devalue the other currency.
However, to protect against this it would be possible to institute polymetallic standars. Bimetallic standards have failed in the past because they have in legislation fixed the exchange ratio of gold to silver in the money. This is absurd because that exchange ratio will never be fixed.
A better hedge would be to have a polymetallic standard where the dollar constitutes fixed quantities of multiple metals, each floating at their own exchange rates relative to goods.
For example,
$1 bill can be exchanged for a tripartite piece that is 0.5 oz gold + 0.25 oz platinum + 0.25 oz silver. (Bulk buys would be exchangeable for multiple pieces of higher mass)
That way the standard is fixed but less prone to market manipulations in any given metal.
Even if the MF DID have gold
a gold backed currency means that gold would become circulating medium or would be exchangable for same. That would put gold back in the hands of the people. Once it was gone, their control would be gone. None of this applies to a Bullshit backed currency masquerading as a gold backed currency. Real gold backed currency would be redeemable in gold.
http://cgi.ebay.com/1928-50-GOLD-CERTIFICATE-FR-2404-C-G-A-5...
You will notice something
You will notice something extremely important on those $50 Gold Certificates:
"THIS CERTIFIES THAT THERE HAVE BEEN DEPOSITED IN THE TREASURY OF THE UNITED STATES OF AMERICA FIFTY DOLLARS IN GOLD COIN PAYABLE TO THE BEARER ON DEMAND"
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
Constitutional money is not
Constitutional money is not just economic, it is a very potent force against government intervention and excess. Like the Constitution itself, gold limits, makes it difficult for the government to govern without the consent of the People. The Constitution is ladened with layers, upon layers of checks and balances, not to make it easy, but very difficult to govern. The Founders sought to put up as many road-blocks as possible for the government, making it sluggish in its actions and reactions. The Founders sought to make government circumspect in its ability to govern, placing as many eyes on the pie as possible. Gold and silver are simply another layer of checks and balances placed in the path of government!
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
I know what you're saying
I know what you're saying here, and I'm cautiously supportive of bringing back our gold backed monetary system. It only seems to make sense and it would perhaps lead to greater currency competition for the "most sound" currency to win out. I have a feeling it would end up being something like digital money backed with gold. No one can carry their gold supply with them, so encrypted digital exchange of gold using "gold cards" could make sense.
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"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore
As far as my research shows, the IMF owns no gold.
I am more concerned about you writing a hit-piece on the money of the Constitution; pointing a cursory finger at members of this site, and offering no alternative as a discussion point.
___________
Lisa C.
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Money masters is
Money masters is informative, but has a good amount of misinformation. The central banks of the world have about 20% of the world's gold. The host of this documentary believes in the chicago school view that the govt should control money supply ala milton friedman. The best argument I have read concerning this film comes from Edward G. Griffin, the author of Creature from Jekyll Island. Here's the link http://www.freedom-force.org/printerfriendly.cfm?pffile=meet...
Gold and Silver Eagles
Have a face value as legal tender but can be traded at market price or a set value above market value and reported to the tax man as face value.
We Winn
Yes, you know that there
Yes, you know that there have been several business men who have paid their employees with gold and silver eagles and claimed their employees claimed the face value on their taxes, of course, the IRS went after both the employer and the employees.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
The IRS doesn't always win.
The IRS did go after them, and the latest news is that they lost on all but one count, which resulted in a hung jury.
-jcr
"The problem with trying to child-proof the world, is that it makes people neglect the far more important task of world-proofing the child." -- Hugh Daniel
I'M READY!!!!
END THE FEDERAL RESERVE!!!!!!!
We don't have to have a gold
We don't have to have a gold backed currency we just need competing currencies, a free marked instead of allowing a monopoly by the fed
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Of course, once gold is used
Of course, once gold is used and circulated through the economy, even in a compteting currency system, it will dominate the monetary system.
“Men do not willingly read unpalatable truths of themselves. The people like those best who fool them most by pandering to their vices and flattering their foibles”—Admiral Raphael Semmes.
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
Not necessarily... A
Not necessarily... A currency could be backed by silver, platinum, palladium etc...
We could even get creative and back a currency with other tangible things.
But yes, competing currencies is the best way to have a real free market, peace, prosperity, and personal freedom.
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