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Gold-is it such a good idea really?

Hi there

I just watched an insightful documentary over 3hrs long called money masters (seems was made in the mid 90's). it said most of what ron paul has been saying, however in the last 5 mins warned that backing the dollar by gold was a bad idea. the reason was because they said all the gold is owned by the private banks, IMF and most of the gold is owned outside the US which means the gold wouldn't be owned by the treasury and therefore wouldn't be owned by the people but the banks. the narrator in documentary called it their 'trojan horse'.

has anyone seen this documentary and has ron paul thought about that prospect? has anyone questioned this issue? the guy in the documentary does give solutions tho.

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Ron Paul

has not advocated a pure gold standard be forcefully implemented, he has tried to pass legislation to allow competing currencies which would allow the people to transition to a gold or silver or whatever standard. If gold ends up being the best then so be it. The idea is to get the purchasing power back into the hands of the people and break the monopoly that the Fed has on the issue of currency. It's true that if someone is the "controller" of the standard, it will eventually decline into a fiat wealth transference scheme like we are suffering from now. Doesn't matter if it is international or domestic. Money should be free market just like the goods, the way it evolved over thousands of years, the way it was intended in a free society. The founders intended gold and silver to be the currency and they put it in the hands of the people through the Congress. They didn't think that we would lose control of the Congress like we have.

"Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other.", www.mises.org

"Endless money forms the sinews of war." - Cicero, www.freedomshift.blogspot.com

The federal govt owns land

They could back the money with land. This was done by the French revolution, and was very successful while it was done with integrity. It became unsuccessful after they began printing too much money for the land to back (sound familiar?).

I believe the US goverment is the largest land owner in the country.

What Makes You Think Treasury Owns the Gold

They are supposed to own it but do they? I think not. I think the FED owns all our gold. It should be on their balance sheet, which we can't see.

Sheldon Waxman

Gold may not be a good idea for other reasons, ...

most importantly, the Washington thieves barred private ownership of gold in 1933, so they could reap enormous profits by selling the turned-in gold.

A FED audit would reveal how much gold has been stolen by the international bankers, hopefully leading to the seizure of FED assets, by armed force if necessary.