It's always good to look for alternatives, but I can't see what would work.
I don't claim to know everything, but it seems that gold could cover about 2% of the money in circulation (which happens to be the same as "paper money"):
Inflation is caused by money borrowed at an interest. The USD has been "borrowed" by the taxpayer from a private bank since the Federal Reserve Act of 1913 at an interest... The greatest heist in history... The Rockefellers own over 160 central banks, and the global investment firms own/control just about everything that matters... Who is the "we" who could do anything about it?
The DBDCs are being developed on schedule, and I can't see how anyone can do anything about it:
“gold could cover about 2% of the money in circulation “… yes, at the current dollar valuation. With a combination of unprecedented and epic levels of defaults and deflation, I think we could get the gold/dollar pair back in equilibrium. Yes it would hurt in the short term, but it would wipe out the parasitic banker class. Kind of like a strong anti-biotic, it kills all of the bacteria, good and bad, but with the right nutrition the good bacteria comes back.
Totally agree that we got to the bloated dollar valuation today by 101 years of debt-based monetary policy thanks to the 3rd Bank of the United States (Fed).
We certainly can’t vote our way out of this as the political class has been totally captured by the promise of wealth and power, and the erosion of moral virtue. As has been shown over the last 100 years, the government will continue to rack up the debt, fund war and misery, and ensuring the smooth transfer of wealth from the producers to the parasites.
Agreed all. EXCEPT it assumes that the Treasury actually owns any Gold now, rather than IOUs and paper swap receipts? This is also why the new BRICS+ trade unit of exchange, rumored to be backed 40% by Gold, should be quite interesting and should nicely stir the pot?
And surely, to establish an adequate money supply, using Gold at $2500 would not be adequate? Most experts believe that a revalued price of ~$30,000 would be required.
And either way, it would, of course be a 180 degree change in mentality for the Fed which, right now is the only Central Bank still suppressing the price of Gold via its Agent Banks in the paper futures "Markets" and BIS via Gold Swaps
This supposed reforms could lead to a significant upheavals in Global Financial Market, Affecting Currencies, Stock Markets and International trades. Contact Pascal Najadi he’s a God sent, for more confidential support on the EBS, Nesara- Gesara, QFS etc..
A gold standard will never work. You need floating currency values that adjust to the markets as well as supply and demand. According to Martin Armstrong, he is saying that the deficit will hit $100 trillion in 2029.
Gold is a hard currency… Bitcoin looks more like a volatile digital asset without any intrinsic value. IMO there is a risk that will vanish from whence it came.
Solid in theory, but how do you envision a path to get there? What would it take (legal mechanisms)to peg the dollar to gold? Would that also engender abolishing the Fed?
However, how is that any different than the previous attempt to have the USD backed by gold, or any other attempt prior to that in the entire history of currency since the Romans?
You say:
"mandate that if gold flows out the Treasury has to buy it back in before it does anything else"
You can mandate all you want but how do you ENFORCE that?
Putting legislation in is relatively easy but how do you guarantee compliance?
Keen to hear your thoughts on how you prevent with absolute certainty another "Nixon shock?
The economy is tied to our debt based monetary system and fractional reserve banking. In this system, credit (money) is fabricated by government-licensed banks and enters the global economy as debt with interest owed. In fact, the same money gets loaned out many times over thus amplifying the effect. In order to pay back the loan (with interest) the economy has to grow forever, or it “crashes”, deflates, resets, or whatever you want to call it.
Economic crashes are a bug inherent in the system’s design. So technically we always crash our own economy, however, we can at least facilitate a controlled demolition and create a plan for what happens after the crash to build a better system.
Where you going to find enough gold for this? The total value of all the gold in the world is like $17 trillion. That is approximately equal to the M1 money supply of the USA only.
Going to the gold standard means we would necessarily have to back track decades of money supply expansion and all the benefits that come with it.
Good thoughts. The problem is that if any politician told folks what short term pain "fixing" the situation would bring they would get no votes.
It's also hard to live in a world with no credit or debt creation. We put credit claims on everything because that's the way to grow quicker. Without that credit creation there is very slow or no growth. Kind of a catch 22 in a way.
I await an associated reversion of the Ag:Au ratio to a longer term historical norm. This will arguably constitute a more dramatic event than the official remonetization of gold.
Central bankers have been trying to de-monetize silver since The Coinage Act of 1873 (and gold since at least 1971). The BRICS+ (and some western central banks) seem to be moving towards remonitizing gold for trade settlement (the “Unit”) and de-dollarizing; it would seem that the bankster price suppression schemes for gold and silver are failing.
With gold as the new reference, true price discovery for silver in terms of gold should revert to longer term historical norms. Bix Weir has even mused about a possible spike in Ag:Au ratio to as low as 1:1 before a new equilibrium is established.
BANK COLLAPSE Reveals shocking links to tribunals and war crimes!
Prepare for the unthinkable: Trillions of dollars in US Treasury bonds are returning to Europe and 110 countries, revealing the alarming truth that American multinationals are on the brink of insolvency.
Prepare for the impending catastrophic COLLAPSE that will send shockwaves across Europe and beyond.
NESARA/GESARA is a beacon of hope, offering:
- Protection to our money and assets
This supposed reforms could lead to a significant upheavals in Global Financial Market, Affecting Currencies, Stock Markets and International trades. Contact Pascal Najadi he’s a God sent, for more confidential support on the EBS, Nesara- Gesara, QFS etc..
Freedom from tyranny is an intrinsic idea that will never die. Bitcoin is a homework test. I like the idea of a gold standard but it requires trust which is why it fails when war drums beat.
How would the change to being gold-backed begin, given that the reserves of USA are only a tiny fraction of all the dollars that have been created? The US government would need to literally buy the gold off the market and those dollars paid would still be in circulation but, in the case of buying one ounce, those 2600 dollars would be ‘gold backed’ by the ounce that is now in Fort Knox.
In this way it seems to me that every dollar in existence would have to pass through the hands of the government, and the government would have to use it only for gold purchase, until it completes the reserve. What does the government do for money to fund everything else it still wants to do?
Ok, no defence spending, no foreign aid, drastically reduce welfare, but they would still need some money even for a ‘night watchman’ state, for a police force for example (as well as the guards at Fort Knox) ?
That also doesn't begin to account for the Eurodollar system, which is totally beyond the control of the Fed? hence they gave up trying to measure the money supply.
I realise that this would only be a temporary period while transitioning to a fully reserved position, but surely this would take years and people would rebel the disappearance of their welfare, and stop paying taxes?
Would it make sense to just destroy dollars,to take them out of circulation. Deflating until only gold backed dollars remain?
Fast and hard is the only way out of this manufactured debacle. Either we hope that those running the show make a massive miscalculation and it collapses on its own, or the people will have to tear it down themselves.
There’s just no way the political and financial class (who completely run the system) will change a system which enriches them on their own volition.
It's always good to look for alternatives, but I can't see what would work.
I don't claim to know everything, but it seems that gold could cover about 2% of the money in circulation (which happens to be the same as "paper money"):
https://rayhorvaththesource.substack.com/p/where-is-americas-gold-and-why-does
Inflation is caused by money borrowed at an interest. The USD has been "borrowed" by the taxpayer from a private bank since the Federal Reserve Act of 1913 at an interest... The greatest heist in history... The Rockefellers own over 160 central banks, and the global investment firms own/control just about everything that matters... Who is the "we" who could do anything about it?
The DBDCs are being developed on schedule, and I can't see how anyone can do anything about it:
https://rayhorvaththesource.substack.com/p/the-final-stage-to-a-one-world-government
“gold could cover about 2% of the money in circulation “… yes, at the current dollar valuation. With a combination of unprecedented and epic levels of defaults and deflation, I think we could get the gold/dollar pair back in equilibrium. Yes it would hurt in the short term, but it would wipe out the parasitic banker class. Kind of like a strong anti-biotic, it kills all of the bacteria, good and bad, but with the right nutrition the good bacteria comes back.
Totally agree that we got to the bloated dollar valuation today by 101 years of debt-based monetary policy thanks to the 3rd Bank of the United States (Fed).
We certainly can’t vote our way out of this as the political class has been totally captured by the promise of wealth and power, and the erosion of moral virtue. As has been shown over the last 100 years, the government will continue to rack up the debt, fund war and misery, and ensuring the smooth transfer of wealth from the producers to the parasites.
You are saying we should crash our own economy on purpose…because not doing so would eventually crash our economy
Not very convincing imo
Agreed all. EXCEPT it assumes that the Treasury actually owns any Gold now, rather than IOUs and paper swap receipts? This is also why the new BRICS+ trade unit of exchange, rumored to be backed 40% by Gold, should be quite interesting and should nicely stir the pot?
And surely, to establish an adequate money supply, using Gold at $2500 would not be adequate? Most experts believe that a revalued price of ~$30,000 would be required.
And either way, it would, of course be a 180 degree change in mentality for the Fed which, right now is the only Central Bank still suppressing the price of Gold via its Agent Banks in the paper futures "Markets" and BIS via Gold Swaps
Hello philipat,
NESARA/GESARA is a beacon of hope, offering:
- Protection to our money and assets
This supposed reforms could lead to a significant upheavals in Global Financial Market, Affecting Currencies, Stock Markets and International trades. Contact Pascal Najadi he’s a God sent, for more confidential support on the EBS, Nesara- Gesara, QFS etc..
Drop a direct message for extensive information
A gold standard will never work. You need floating currency values that adjust to the markets as well as supply and demand. According to Martin Armstrong, he is saying that the deficit will hit $100 trillion in 2029.
Gold is a hard currency… Bitcoin looks more like a volatile digital asset without any intrinsic value. IMO there is a risk that will vanish from whence it came.
Solid in theory, but how do you envision a path to get there? What would it take (legal mechanisms)to peg the dollar to gold? Would that also engender abolishing the Fed?
I like the premise of this section:
https://www.profstonge.com/i/147669305/how-we-get-back-to-gold
However, how is that any different than the previous attempt to have the USD backed by gold, or any other attempt prior to that in the entire history of currency since the Romans?
You say:
"mandate that if gold flows out the Treasury has to buy it back in before it does anything else"
You can mandate all you want but how do you ENFORCE that?
Putting legislation in is relatively easy but how do you guarantee compliance?
Keen to hear your thoughts on how you prevent with absolute certainty another "Nixon shock?
Many thanks in advance.
The economy is tied to our debt based monetary system and fractional reserve banking. In this system, credit (money) is fabricated by government-licensed banks and enters the global economy as debt with interest owed. In fact, the same money gets loaned out many times over thus amplifying the effect. In order to pay back the loan (with interest) the economy has to grow forever, or it “crashes”, deflates, resets, or whatever you want to call it.
Economic crashes are a bug inherent in the system’s design. So technically we always crash our own economy, however, we can at least facilitate a controlled demolition and create a plan for what happens after the crash to build a better system.
On a personal level, you can quite easily keep your savings in terms of gold, physical or virtual.
If you are truly a believer that fiat currency is fatally flawed, you should do this and make lots of money doing it.
Where you going to find enough gold for this? The total value of all the gold in the world is like $17 trillion. That is approximately equal to the M1 money supply of the USA only.
Going to the gold standard means we would necessarily have to back track decades of money supply expansion and all the benefits that come with it.
Good thoughts. The problem is that if any politician told folks what short term pain "fixing" the situation would bring they would get no votes.
It's also hard to live in a world with no credit or debt creation. We put credit claims on everything because that's the way to grow quicker. Without that credit creation there is very slow or no growth. Kind of a catch 22 in a way.
The book “WHEN MONEY DIES,” is by Adam Fergusson. It’s an interesting read.
I await an associated reversion of the Ag:Au ratio to a longer term historical norm. This will arguably constitute a more dramatic event than the official remonetization of gold.
The crime of ‘73…
Genuinely curious: why do you think this is going to happen? Price of silver in gold has been falling for 150 years.
Central bankers have been trying to de-monetize silver since The Coinage Act of 1873 (and gold since at least 1971). The BRICS+ (and some western central banks) seem to be moving towards remonitizing gold for trade settlement (the “Unit”) and de-dollarizing; it would seem that the bankster price suppression schemes for gold and silver are failing.
With gold as the new reference, true price discovery for silver in terms of gold should revert to longer term historical norms. Bix Weir has even mused about a possible spike in Ag:Au ratio to as low as 1:1 before a new equilibrium is established.
BW1.0 - With all the world's support and the US by far the dominant military and economic power, failed, due to gold drain in 27 yrs. But now:
-the US has none of those advantages.
-a significant fraction of dollar creation occurs overseas in international banks outside Fed control.
-The body politic is fractured, politicians and central bankers appear more corrupt, dishonest, and short term oriented.
-the bureaucracy controls the reins of power.
-The massive trade surplus is a perpetual deficit.
-Unfunded liabilities are massive, and every voter thinks they are owed some
When BW1.0 failed in 27 years, and all those prior advantages are gone, how long would BW2.0 last before catastrophic failure? 10 years?
Can the nature of humans be changed enough to make BW2.0 last? Not a snowballs chance.
Freegold is a far better solution, it is organic and stable.
Hello handyman,
Benjamín Fulford
BANK COLLAPSE Reveals shocking links to tribunals and war crimes!
Prepare for the unthinkable: Trillions of dollars in US Treasury bonds are returning to Europe and 110 countries, revealing the alarming truth that American multinationals are on the brink of insolvency.
Prepare for the impending catastrophic COLLAPSE that will send shockwaves across Europe and beyond.
NESARA/GESARA is a beacon of hope, offering:
- Protection to our money and assets
This supposed reforms could lead to a significant upheavals in Global Financial Market, Affecting Currencies, Stock Markets and International trades. Contact Pascal Najadi he’s a God sent, for more confidential support on the EBS, Nesara- Gesara, QFS etc..
Drop a direct message for extensive information
Freedom from tyranny is an intrinsic idea that will never die. Bitcoin is a homework test. I like the idea of a gold standard but it requires trust which is why it fails when war drums beat.
How would the change to being gold-backed begin, given that the reserves of USA are only a tiny fraction of all the dollars that have been created? The US government would need to literally buy the gold off the market and those dollars paid would still be in circulation but, in the case of buying one ounce, those 2600 dollars would be ‘gold backed’ by the ounce that is now in Fort Knox.
In this way it seems to me that every dollar in existence would have to pass through the hands of the government, and the government would have to use it only for gold purchase, until it completes the reserve. What does the government do for money to fund everything else it still wants to do?
Ok, no defence spending, no foreign aid, drastically reduce welfare, but they would still need some money even for a ‘night watchman’ state, for a police force for example (as well as the guards at Fort Knox) ?
That also doesn't begin to account for the Eurodollar system, which is totally beyond the control of the Fed? hence they gave up trying to measure the money supply.
I realise that this would only be a temporary period while transitioning to a fully reserved position, but surely this would take years and people would rebel the disappearance of their welfare, and stop paying taxes?
Would it make sense to just destroy dollars,to take them out of circulation. Deflating until only gold backed dollars remain?
Fast and hard is the only way out of this manufactured debacle. Either we hope that those running the show make a massive miscalculation and it collapses on its own, or the people will have to tear it down themselves.
There’s just no way the political and financial class (who completely run the system) will change a system which enriches them on their own volition.