Beware of Calls to Return to a Gold Standard
The "Money Masters" is perhaps the most recognized and lauded video on the history of money. Millions have seen the video and the views just keep increasing. One of the most important but ignored quotes of the video occurs close to the end when Mr. Still suggests the following:
Our country needs a solid group who really understand how our money is manipulated and what the solutions are, because if a depression comes, there will be those who will come forward advancing solutions framed by the international bankers.
Beware of calls to return to a gold standard. Why? Simple. Because never before has so much gold been so concentrated outside of American hands. And never before has so much gold been in the hands of international governmental bodies such as the World Bank and International Monetary Fund. In fact, the IMF now holds more gold then any central bank.
The Swiss are under intense pressure from the Money Changers to dispose of their gold. This is most likely either a prelude to the complete demonetization of gold (like silver before it), or to its monopoliation and remonetization by the Money Changers.
Therefore, to return to a gold standard would almost certainly be a false solution in our case. As was repeated in the Great Depression: "In gold we trusted; by gold we're busted."
Likewise, beware of any plans advanced for a regional or world currency - this is another international banker's Trojan Horse - a deception to open the national gates to more international control.
This is a stunning warning that should be shared with all who are calling for a return to the gold standard - through central and/or private banks. Let me add some facts that further support the allegation.
I gleaned the following information from the "World Gold Council" http://www.research.gold.org/ Gold Investment Research and Statistics:
- There are approximately 30,000 tonnes of gold reserves held globally
- Central banks hold the most reserves, combined at over 13,000 tonnes
- The IMF holds over 3,300 tonnes that we know of (many suggest they hold more)
- The United States holds more gold than any other country - 8,100 tonnes (at least half this amount may actually belong to the private Federal Reserve)
Things get a bit more interesting as these numbers alone don't tell the story. According to the US Gold Commission, the United States held just over 8,000 tonnes of gold in 1982. The report includes both gold held by the US government and by the separate and private Federal Reserve vaults. This is misleading as the gold held by the private Fed should not be included as US gold.
There seems to be some mystery and confusion as to how much gold the US actually has. Some have suggested that virtually all of the US gold reserves are held as collateral on our national debt by the Federal Reserve banks. More recent numbers seem to indicate that at best, the US government owns around 4,000 tonnes.
Regardless, it should suffice to tell us that moving to a gold standard is both impossible and undesirable as we simply do not have near enough gold to accomplish such a thing. Would proponents suggest that the United States entangle itself with the central bankers and the IMF in order to "borrow" enough?
The entire "gold standard" debate is a waste of time and only serves as a distraction - or worse.
Why does it matter how much gold we have?
"we simply do not have near enough gold to accomplish such a thing."
Why not?
We have SOME gold...if the US Treasury were to implement the Coinage Act of 1792 where 1 ounce of gold = 15 US Dollars, then gold dollars would start to circulate. Along with FRN's, there should be more than enough circulating medium. Over time the Treasury's gold holdings will increase as people begin to prefer the gold dollars to the federal reserve notes and exchange their gold for US Dollars.
roughly speaking, $800 buys an ounce of gold and would buy 15 US (gold) dollars
A nice men's suit will cost 800 federal reserve notes this year and (let's guess) 900 frn's next year
That same suit will cost 15 US dollars both years.
I use 800 frn's to buy an ounce of gold. Then I take it to Treasury and instead of Treasury giving me 800 frn's for it, they give me 15 US Dollars. In this way, US Dollars slowly replace Federal Reserve Notes, a gradual process as trust is re-established.
Are you saying that because other nations and institutions have lots of gold, they would be able to sabotage this process of returning to a gold standard?
How about when this comes to a head...
we use our armies and take back all the gold which was stolen from us?
Vote for Liberty...Buy Silver Eagles.
HOLD UP GUYS
This post is a very legitimate point. I am a firm proponent of the Gold standard. I cannot think of one thing I disagree with Ron Paul on. However, we must be vigilant should a mainstream push for the gold standard arise. We should fight for some sort of countermeasure to solve this problem. For example, we should be allowed to turn in our Fed notes in exchange for a certain amount of gold in order to ensure that this gold hoarded by the big guys is equlized to a degree.
You are already free to do that
You may take your FRNs and trade them for gold now - just buy some. You are already free to store your wealth in gold if that is your preference.
I'm talking about something entirely different. The central banks and the IMF hold most of the world's gold reserves - by pushing for a gold backed currency, you are pushing for their exploitation and helping the NWO.
The problem isn't the currency, that's just a symptom, the problem is the federal reserve and their owners, the international bankers, have destroyed the system. They steal and exploit and manipulate our markets - get rid of them and most of our troubles would be over.
END the FED before it ENDS US
END the FED before it ENDS US
"Beware Ron Paul and his looney calls for a gold standard"
Revised the title for context.
Ron Paul SUPPORTS the Gold Standard.
This site is called "The Daily Paul".
This site is here to promote Ron Paul's positions - not trash them. The US constitution also says that only gold and silver shall be considered legal tender.
http://brits4ronpaul.blogspot.com/
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Not exactly correct
The 'Gold Standard' attempts to peg the currency to the price of gold. It is a link between paper money and gold that The State tries to maintain. I think it would be more correct to say that Dr. Paul wants gold as money, as stipulated in the constitution. A subtle but important distinction.
Against free speech?
Brit4RonPaul said: "This site is here to promote Ron Paul's positions." Are you suggesting that Ron Paul would condone the elimination of free speech here or anywhere else?
You may not be aware but the constitution states that ONLY CONGRESS shall have the right to issue and control our currency. The central banks and their satellites have usurped our constitution in taking this power with the help of complicit politicians.
As far as gold and silver, we simply don't have enough to support a national currency. There are around 32,150 Troy Ounces in every Tonne of gold. And, figure that our interest alone on our national debt was over $400 billion dollars last year. At $1,000 / Troy Ounce, we would need over 12,700 Tonnes of gold just to pay our interest -every year, and that number is rising.
Our trade deficit has been over $700 billion a year for the last few years. Again, at $1,000 / Troy Ounce, we would need over 22,000 Tonnes of gold - which would leave our shores, every year.
Over $2 trillion US dollars are currently held by foreign countries in their reserves (China alone holds over $1 trillion). At $1,000 / Troy Ounce; this is equal to around 65,000 Tonnes of gold.
Annually, there are ONLY around 4,000 tonnes of global gold supply, including mining, scrap sales and central banks. See the problem?
Let's add the totals:
12,700 Tonnes for national debt interest - no principle included
22,000 Tonnes for trade deficit
65,000 Tonnes foreign held dollars
_______
99,700 Tonnes total - without backing a penny of any new currency
Even if you add the Private federal reserve's gold to that of the US total, we still would only combine for around 8,000 tonnes. Do some math, figure it out.
You are free to blindly walk boot-step with any politician - many do every day which is why we have Obama - but please don't attempt to censor the free thinkers who frequent this forum.
END the FED before it ENDS US
END the FED before it ENDS US
saying we dont have enough
saying we dont have enough gold is wrong. techincally you can have a gold standard with barely any gold at all.
Simple solution: "Allow competing currencies."
Ron Paul said that. I don't claim credit for it.
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What about our national currency?
You are free to buy gold and silver right now. And you are free to conduct trade with gold and silver conveniently through companies like GoldMoney. You already have this ability.
What I am suggesting is that we need a national currency that is dependable and practical. Gold and silver are not practical.
END the FED before it ENDS US
END the FED before it ENDS US
Let me answer your question.
"Are you suggesting that Ron Paul would condone the elimination of free speech here or anywhere else?"
No, I'm not suggesting that. I'd just like to know why you keep posting the opposite of Ron Paul opinions on here?
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Agreed. Gold means being in the club . . .
. . . . and we're not in it!
We need stewardship and love in our lives too, and the principles of network marketing reward this activity. It is actually in action everywhere you look, and the "commission" part can be appllied to daily activites, even spontaneously.
The honesty is checked every step of the way, because each person profits, person by person . . . help them reach their dream, and yours shall be reached as well (because you're paid a commission).
I guess anything can be corrupted, but network marketing has many natural checks and balances.
I feel that the principles of Network Marketing can save the world, spread the wealth logically and respectfully by virtue of the principle of "networking" and become the economic model for an advanced world that respects all living things and creatures.
This begins at a most local level, the person standing within 3 feet of you.
I know of a company called Pre Paid Legal Services, Inc that is rated among Amazon and Dell for "strength and growth" over the last fifteen years. It's network marketing division has been growing astronomically. The money the associate gets for helping others is massive.
(net work marketing is helping others be successful, which entitles you to an override)
Let me repeat that, you get paid for helping others.
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.”
the best way to wreck the
the best way to wreck the "club" is buy yourself.. the more you have the less they have! you can still buy it! if it is that important to them then you need to look twice at your position! there are billions of us compared to just a few of them.. if everyone went and bought 1 once of gold or silver the manipulation is over!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
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Well said!
We need stewardship but don't look to business or government - look for fidelity to our constitution. The banks are international thieves and that is why our constitution was so explicit in not allowing them to control or issue our currency.
Government is not just people, it is a system that includes checks and balances and specific limitations. We the people, are complicit in allowing the constitution to be shredded.
END the FED before it ENDS US
END the FED before it ENDS US
US Constitution says: ONLY gold/silver can be legal tender.
http://brits4ronpaul.blogspot.com/
http://lpuk.blogspot.com/
http://northwestlibertarians.blogspot.com/
I am starting to
think the new currency will be a debit card. Everything will be done electronically. No cash. It will be backed by Goons that carry big guns.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
Agreed -
It is a distraction.
When I was buying Gold in the low $300's people use to tell me, "why would you want to buy gold, it is going to $100" ? Now, the same people tell me to buy more after it has gone to $1300.
I guess everybody has to learn the hard way, "buy low, sell high, who are those other guys kidding?"
Gold is a commodity like platinum, copper, zinc, tin, and oil.
no gold is money..always has
no gold is money..always has been always will be! until you understand that you are lost!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Yes. Its a commodity. Ron Paul supports COMMODITY MONEY.
Everybody clear on that? Good.
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http://lpuk.blogspot.com/
http://northwestlibertarians.blogspot.com/
When people speak of a gold
When people speak of a gold standard, it is important to differentiate between full convertibility, and mere attempts to keep the gold price stable in terms of some fiat currency.
The 'good' (or really, only real) 'gold standard' is full convertibility. In this system, you are essentially bartering with metal as one end of the barter. What the constitution opens for, is government making this easier by issuing coinage representing various gold weights, as giving change by cutting up gold pieces and weighing them can easily become a bit awkward.
A corollary to this, is that there can be no fractional reserve banking, or any other method to inflate the amount of coinage beyond that which the government / central bank has gold to convert the coinage into. Were this not so, the government would quickly be separated from it's physical gold, while there would still be coinage (i.e. claims against government gold) floating around.
Even with a government managed, independently audited, full convertibility gold standard, nothing prevents anyone from using physical gold as direct payment, if they don't trust the government. Nor anyone using silver. Nor even issuing coinage of any kind and sort, as long as they find willing takers.
The reason some form of officially 'sanctioned' currency is almost inevitable in anything but pure anarchies, is that government levies, like taxes and tariffs, have to be paid in something. Expecting a customs agent to accept as tariff for the importation of a cow a few percent of the meat on the cow's rib becomes rather unwieldy. Not to mention cruel to the cow.
Now, of course, the less of a role government plays in society, the less risky it becomes for people to transact in currencies not pegged to the official one. So, with a proper, constitutionally limited, government; transacting in something like silver, or even fiat scrip; either locally in a community, in an industry or whatnot; would not pose undue risk, as long as one could raise the minimal amount of officially sanctioned money come tax / tariff / fine time.
Hollow Standard
The reality is that the United States neither has near enough gold/silver nor the money to buy it. Would you suggest we borrow the money required to buy a commodity currency to make it sound? Wouldn't that really be the same hollow debt based currency that you object to, but now more expensive?
END the FED before it ENDS US
END the FED before it ENDS US
How much or little gold the
How much or little gold the United States, by which I'm assuming you mean the current US federal government / federal reserve, happen to have, isn't really of any importance as pertains to gold/silver's utility as money. If the government mint is trustworthy, people will exchange their bullion for coinage to the extent this makes it easier to conduct trade, otherwise they will simply conduct trade directly in bullion. Or in coinage issued by non US government actors, if these enjoy more trust.
As a practical matter, if all exchanges with the US government at one end suddenly requires gold, gold demand will likely rise a lot, hence causing a one time wealth redistribution favoring those who happen to own a lot of gold. These may be Ron Paul supporters, Peter Schiff clients, or for that matter, some Rothschild. But again, this has no real bearing on gold's suitability as money, per se.
If you insist on viewing the world through a lens of who 'deserves' what, perhaps consider this windfall a result of gold owners having the foresight to realize the inevitable collapse of any possible fiat coin. Combined with their realization gold is the most universally suitable of hard currencies. Or simply chalk it up to luck.
Should the government confiscate gold?
Why would anyone want to sell their gold to the government to make coins? Personally, I own gold and want to keep it as it is, separate from a government that I do not trust.
END the FED before it ENDS US
END the FED before it ENDS US
They don't have to confiscate anything!
If you are sincerely interested in the transition to a gold standard you should read the last chapter of "The Mystery of Banking".
http://mises.org/Books/mysteryofbanking.pdf
Actually, I strongly suggest that you read the whole book. I know you don't like books that are short on mathematics, but consider the following:
1. Geology is a science that involves very little mathematics. That doesn't invalidate geology.
2. Mathematical content does not guarantee freedom from bullshit. There are many false mathematical "proofs" that 1=0. They all involve "non sequiturs".
3. Ron Paul supports Austrian economics.
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http://northwestlibertarians.blogspot.com/
Thanks for the suggested reading
I took your advice and read the last chapter as you suggested. I certainly agree with Rothbard that the fed should be eliminated!
There were many other things that I agree with but the one truly bizarre notion is that the dollar may be "fractionally' backed. As Rothbard says:
This is really some bizarre stuff - he is working backwards - first see how much money and gold we have then set the rate - which is essentially "fractional backing."
And, M-1 is only a small portion of the circulation. There is between $4-7 trillion dollars in circulation, depending on who you believe.
So, let's look at Rothbard's backward, fractional, gold backing formula an see what it yields:
8,000 tonnes of gold x 32,150 ounces/tonne = 257,200,000 ounces
$4 trillion circulation / 257,200,000 ounces = $15,500 ounce artificial gold price
Or fractionally, at $1,000 ounce, each dollar in circulation would be backed by around 6 cents of gold.
And this amount does not include the trillions held as foreign debt.
Rothbard and others may say as they wish but the reality is that any plan that calls for a gold and silver backed national currency, may only be accomplished with the full exploitation of the criminal central bankers.
END the FED before it ENDS US
END the FED before it ENDS US
So your saying to deregulate the monetary system, but how can it
be done without causing the social chaos these same group of people need to thrive.
17 sec. video link:
http://www.youtube.com/watch?v=pArsvOfAARc&eurl=http://video...
Silver?
Does anybody have the stats on silver?
Basically all that is
Basically all that is required to make things just is don't make the paper currency a legal tender.
Just make it payable to the Federal Govt for taxes at its face value
And take the capital gains taxes off gold/silver so people are free to use them if they want
this gives people the freedom to use what they want, and it forces the govt to keep its paper currency honest, otherwise people will gravitate to gold
The Banksters would be in control of a gold standard
Government should not be in the business of defining money.
The often repeated statement that there is "not enough gold" makes no sense whatsoever. A gold standard could easily carry all the world's transactions. Gold would simply be very, very valuable under such an arrangement.