can i get your opinion on a gold backed international currency?
Submitted by ruckmanite on Wed, 01/21/2009 - 21:27
in
When Ron Paul was on Glen Beck he was asked if he had heard any talk on these lines (if i understook becks question correctly). Ron Paul answered that paulson and crew were not saying anything. What do you think would happen to the dollar if a international or european union/american union dollar was set up with gold backing? And do you think this would be possible?
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Impossible - unless fractional
Unfortunately neither we nor the Europeans have near enough gold to back national yet alone international currencies. Not even a half penny to the dollar.
So, would a fractionally backed currency work? No, it is still a debt based currency with little intrinsic value.
The solution? Eliminate all interest charges and allow the currency to take on the full value of the wealth it represents.
END the FED before it ENDS US
END the FED before it ENDS US
Actually, the control and ownership of most of the gold
while converting us to a fiat was the biggest conspiracy EVER. It assures that even if we try to go back, they'll still run the show. We should have a notch stick standard.
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walk softly and
carry a big tally stick!
might serve two purposes when they confiscate all the guns and gold!
:-)
I think this is what is going to happen
just my gut feeling. Folks will think "gee this is great!"...but I don't think that just because its BACKED by gold means anything. Introducing Paper or Pixel money backed by gold allows for the same sort of fractional reserve nonsense that we have been dealing with for centuries. That's why the Constitution called for only gold or silver coin...they had this figured out. (YES the redeemable part is key)
Only If
Redeemable for the physical gold. As in Gold Certificates. No re-demption , no gold standard.
As for me I'll take the physical species.
A gold standard would be a fantastic way to become full-fledged
slaves if the current ownership of gold is honored. You think the Rothschilds are in charge now? Bring back a gold standard and start practicing your bowing.
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interesting thanks.
interesting thanks.
"We must re-take the Republican Party"-Ron Paul. http://www.youtube.com/watch?v=NlqXq8YxQFQ