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3 hours ago

More gold has been purchased by Central Banks in the past 3 quarters than in the past 50 years. They know what's coming. 3 hours ago

Really? Hadn’t noticed this gold price keeps falling 3 hours ago

True. That dichotomy requires some 'splaining by someone. Premium 2 hours ago

I'll give it go ---

With a question I have posted on this board since 2012:

If your monetary system is rigged to require ever-expanding debt to survive (and it is), and the survival of that monetary system is tethered to your floating currency/Treasury issuance, does it benefit that system to be reflected against sound money, or does a sound money system which became fully un-tethered in 1971 conversely, pose a threat to your system...? 2 hours ago

Yes you are. 2 hours ago

China/Russia/USA could do this, big question mark over Europe though. 2 hours ago

The fractional reserve gold money is the original banking scam - Money as Debt

In 1872 the Bank of England sent Ernest Seyd, with lots of money to bribe the American congress into demonetizing silver which was plentiful and hard for them to manipulate. Ernest drafted the legislation himself, which came into law with the passing of the Coinage Act "Crime of 1873", effectively stopping the minting of silver that year. Within three years, 30% of the workforce was unemployed. In 1877 riots broke out all over the country. William Jennings Bryan was the Democratic candidate for president in 1896, campaigning to bring “free silver” back as a money standard. "We will answer their demand for a gold standard by saying to them: You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold." 2 hours ago

the BETTER solution via gold standard

is to destroy massive amounts of M2 and reverse engineer price of benefits/costs

ie declaring govt debt null and void - see poof gone

declaring pensions will be paid at .10 cents on dollar or less

making current wages/income viable so masses won't suffer way massive inflation reset would do

3 hours ago More gold has been purchased by Central Banks in the past 3 quarters than in the past 50 years. They know what's coming. 3 hours ago Really? Hadn’t noticed this gold price keeps falling 3 hours ago True. That dichotomy requires some 'splaining by someone. Premium 2 hours ago I'll give it go --- With a question I have posted on this board since 2012: If your monetary system is rigged to require ever-expanding debt to survive (and it is), and the survival of that monetary system is tethered to your floating currency/Treasury issuance, does it benefit that system to be reflected against sound money, or does a sound money system which became fully un-tethered in 1971 conversely, pose a threat to your system...? 2 hours ago Yes you are. 2 hours ago China/Russia/USA could do this, big question mark over Europe though. 2 hours ago The fractional reserve gold money is the original banking scam - Money as Debt In 1872 the Bank of England sent Ernest Seyd, with lots of money to bribe the American congress into demonetizing silver which was plentiful and hard for them to manipulate. Ernest drafted the legislation himself, which came into law with the passing of the Coinage Act "Crime of 1873", effectively stopping the minting of silver that year. Within three years, 30% of the workforce was unemployed. In 1877 riots broke out all over the country. William Jennings Bryan was the Democratic candidate for president in 1896, campaigning to bring “free silver” back as a money standard. "We will answer their demand for a gold standard by saying to them: You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold." 2 hours ago the BETTER solution via gold standard is to destroy massive amounts of M2 and reverse engineer price of benefits/costs ie declaring govt debt null and void - see poof gone declaring pensions will be paid at .10 cents on dollar or less making current wages/income viable so masses won't suffer way massive inflation reset would do

(post is archived)

[–] • 2 pts

I did the math on this a few years ago. The dollar was worth 3 grains of gold. That was current strength of the dollar vs the price of an ounce of gold, and the debt was 20 Trillion.

I'd say tie the worth of the dollar to ammunition instead of oil or gold. That way if the dollar collapses, people are literally being shot.

[–] • 2 pts

This makes me realize that I don't know how the Fed worked prior to going off the gold standard.

What would be the function of the Federal Reserve be if they didn't have fiat currency to manipulate?

[–] • 1 pt

The US had to maintain a balanced budget and gold was transferred around the world. Then came silver right before the welfare state making the dollar weaker then finally it was their job to just print money and collect interest from the peasants on the money loaned to our overlords.

[–] • 2 pts

Plot twist: Gold owned by the US Treasury is lost and unaccounted for...

[–] • 2 pts

Does the US Treasury actually own any gold? The kikes stole all of it.

[–] • 1 pt

Yes this can be done.

Currently the Gov't holds about a third of a trillion in actual gold bullion, mostly in Fort Knox, as audited by the Gov't under Trump's order to count the gold when he came into office.

However, there are some 4+ quadrillion US dollars in circulation currently, globally, as a conservative estimate.

To back the US dollar with gold in US custody, each ounce will have to be repriced to about $27 million dollars per ounce.

It's not just the US economy. the US Dollar is the global reserve currency of choice, used as the primary international trading currency for most of the planet. Backing it with US gold only would over inflate the international price of gold.

If reserve currency status were dropped, gold would still have to be priced at roughly $3 million per ounce to back the US economy. The money was $30 per ounce in the 1960's.

We have to multiply the money by 100,000 to get to today's gold value, and part of that reflects a loss of purchasing power via half a century worth of inflation since leaving the gold standard, and another part of that reflects not stockpiling additional gold over the last fifty years while still expanding the amount of currency in circulation as used by the domestic economy. As a result, the static gold stockpile increases in value as measured in dollar terms.

But can it be done? Absolutely yes, it can be done.

[–] • 1 pt

Erase the debt and stop the welfare state and perpetual wars and we’d be good.

[–] • 1 pt

This could be very bad for all the people that have any amount of gold in their hands, since it could happen again, that the jewish bankst... cof, cof, "federal government" come to stea... cof, cof confiscate all of their gold and exchange it for worthless paper.

[–] • 1 pt

It should not be just gold. It should be a diverse backed currency that is more than just gold. Or else you will get the ups and downs related to gold that happened in the past which resulted in unpinning the currency to gold.

No one I have seen talks about a diversely backed dollar standard. It's always the gold standard.

For example, gold and silver are not always in the same ratio and it can vary greatly:

https://www.investopedia.com/articles/trading/09/gold-silver-ration.asp

Early US History, we had both (a bimetallic standard). But that fell out of favor and we ended up with a silver standard for a while.

Regardless, I would imagine multiple commodities being better as a backed standard than just gold. Perhaps 5. Gold and silver being 2 of those.