The Gold Standard

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What does it mean when the vampire squid says gold is basically at the bottom and it has nowhere to go but up, and will go up, and the story sounds like somebody stole it from an old post at GIM2?
 
gringott said:
What does it mean when the vampire squid says gold is basically at the bottom and it has nowhere to go but up, and will go up, and the story sounds like somebody stole it from an old post at GIM2?
Click to expand...
tenor.gif
 
The fact that they redecorated the $100 with gold gold gold all over it should be a clue.
 
The gold standard isn't Heaven on Earth nor is it the Road To Utopia or the Promised Land, not even the Clintonista's Dream of A Return to Eden.

None of those places are real, we can't get there from here.

However, like the US Constitution, it has flaws but I haven't seen anything better yet, and as we are flawed human beings, perhaps it is the only solution. Seemed to work when I was a kid with silver.

The main argument floating around the propaganda channels is there is not enough gold in the world.

I talked to older people some when I was a kid, they always talked about silver coins, gold was not a normal thing for them, folding certificates were.

There isn't enough silver and gold if done at today's valuation and expect to redeem digital currency and paper as well. There are not enough grains of sand in the world to equal that mess.Maybe universe.



Once they destroy everything then perhaps we can go back to the Constitution and make nothing but silver and gold money. There will be enough then anyway. I like a fist full of real dollars.
 
Never understood the ''There's not enough gold theory.'' If you needed more gold dollars couldn't you just revalue the price upwards? Find a new billion ounce hoard, price would go down?
 

tomwoods.com

Ep. 2016 The Truth About Inflation | Tom Woods

With price inflation now evident to everyone, I decided to revisit some fallacies (like Elizabeth Warren's claim that price increases are caused by "greed")
tomwoods.com tomwoods.com

Related Episodes​

Ep. 1180Inflation: Its Cultural and Political Consequences
Ep. 721The Moral and Material Disasters of Fiat Money
Ep. 529Leftist Site Attacks Gold Standard; Here’s Our Smackdown
Ep. 518Woods Speech: What Has Government Done to Our Money?
Ep. 394There Is Nothing to Fear About Deflation
Ep. 135Money, Sound and Unsound
Ep. 37The Deflation “Threat”



Read the original article at TomWoods.com. http://tomwoods.com/ep-2016-the-truth-about-inflation/
 
Chigg said:
Never understood the ''There's not enough gold theory.'' If you needed more gold dollars couldn't you just revalue the price upwards? Find a new billion ounce hoard, price would go down?
Click to expand...
Yes, the price would theorhetically go down. There were plenty of boom/busts. Likewise, the Comstock Load created a glut of silver and inflation. Then growth cooled again.
 
looks like we might be going back on a gold standard in the near future

......digital gold.....is what the kidz call it
 
gringott said:
The gold standard isn't Heaven on Earth nor is it the Road To Utopia or the Promised Land, not even the Clintonista's Dream of A Return to Eden.

None of those places are real, we can't get there from here.

However, like the US Constitution, it has flaws but I haven't seen anything better yet, and as we are flawed human beings, perhaps it is the only solution. Seemed to work when I was a kid with silver.

The main argument floating around the propaganda channels is there is not enough gold in the world.

I talked to older people some when I was a kid, they always talked about silver coins, gold was not a normal thing for them, folding certificates were.

There isn't enough silver and gold if done at today's valuation and expect to redeem digital currency and paper as well. There are not enough grains of sand in the world to equal that mess.Maybe universe.



Once they destroy everything then perhaps we can go back to the Constitution and make nothing but silver and gold money. There will be enough then anyway. I like a fist full of real dollars.
Click to expand...
Yeah, The Romans proved that via Coin shrinkage, then alloy mixing more and more.
Any NEW Gold Standard can not be static.
Scheduled meetings should take place and hash out differences and expectations every few years. All commodities should have a seat at the table and negotiate Weights,Purities, Measures in relation with one another.
It will not be a Pollyanna but should last close to 500 yrs, The length of the Roman Empire.
 

Return of the Gold Standard?​

The greatest problem with economics is the bridge from theory to reality. Nowhere is this proven with more clarity than in countries that are subjected to socialism: its economic theory is proven wrong time and time again with misery in place of prosperity, with chronic shortages, quality problems, and a depressing lack of economic and social progress.

Socialist economics, or Marxism, is not the only economic theory that fails in the face of reality. Keynesian economics, especially in its politicized contemporary format, is in large part responsible for the unending fiscal problems associated with the modern welfare state.

Austrian economics, embraced by conservatives and libertarians, also struggles when put to work. It is fundamentally a sound theory, which emphasizes the intertemporal nature of economic decisions and the role that uncertainty plays in shaping those decisions. This theoretical base is a good launch pad for explanations of how government negatively affects the economy.

Read the rest here:

europeanconservative.com

Return of the Gold Standard?

Any move in the gold-standard direction must be guided by pragmatism, not dogmatism.
europeanconservative.com europeanconservative.com
 
Here's Sal's take...................

The ONLY Way A Gold Standard Will Work​

SalivateMetal
Jan 20, 2023


18:46
 
People can be on their own gold standard if they want to. You have the right to contract your labor for whatever you want. If your self employed it is easy. You want me to build you a deck? No problem. have these materials delivered and you pay for them. Upon completion of the project you will give me 5 1 oz gold coins. My income on that job is now 250 dollars. More than likely you will never hit the threshold of needing to file an income tax because your income will be less than 14k which I believe is the new threshold for having to file an income tax. Used to be 12k.

Congress has the authority to regulate coinage. They have chose 1 dollar for silver coins and 50 dollar for 1 oz gold coins. If we went to a gold standard congress could regulate the value to whatever they want. If they want gold at 10k or 100k an oz that's their decision.

We could also have a dual system. Currency actually redeemable for gold and silver within the US and international trade settled in another currency. Make it illegal for gold and silver to leave the US and we have a dual currency. Of course that is all predicated on the fact that Fort Knox actually contains any gold.
 
Cigarlover said:
People can be on their own gold standard if they want to. You have the right to contract your labor for whatever you want. If your self employed it is easy. You want me to build you a deck? No problem. have these materials delivered and you pay for them. Upon completion of the project you will give me 5 1 oz gold coins. My income on that job is now 250 dollars. More than likely you will never hit the threshold of needing to file an income tax because your income will be less than 14k which I believe is the new threshold for having to file an income tax. Used to be 12k.

Congress has the authority to regulate coinage. They have chose 1 dollar for silver coins and 50 dollar for 1 oz gold coins. If we went to a gold standard congress could regulate the value to whatever they want. If they want gold at 10k or 100k an oz that's their decision.

We could also have a dual system. Currency actually redeemable for gold and silver within the US and international trade settled in another currency. Make it illegal for gold and silver to leave the US and we have a dual currency. Of course that is all predicated on the fact that Fort Knox actually contains any gold.
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And gallon of gas today actually only costs around $.18
 
Cigarlover said:
Of course that is all predicated on the fact that Fort Knox actually contains any gold.
Click to expand...

FWIW (dyodd)

The Gold In Fort Knox - US Mint Director's Perspective​

Dec 3, 2023

12:34

Fort Knox is a mystery to a lot of people for good reason. Many don't believe the gold is there. This video takes a look at Ft Knox and the gold inside from the perspective of former US Miint Director Philip N. Diehl.

For readers:

coinweek.com

An Unclassified Peek Inside Fort Knox Gold Depository

By Philip N. Diehl, exclusively for CoinWeek ..... The public image of the United States Bullion Depository at Fort Knox, Kentucky, was cemented in
coinweek.com coinweek.com
 
Does it even matter if the gold is there or not? If it isn't than the bankers stole it all. No biggie though we have a printing press with unlimited printing abilities. Way more valuable than that ancient relic.
 
I'll posit that the gold is actually there. The question in my mind is whether or not it is unencumbered.
 
The naysayers who insist a gold standard "cannot work" are the same types who insist that the borders "cannot meaningfully be secured" because "fences don't work."

And they assert these untruths for the same reasons - THEIR SELF-INTEREST. They have invested INTEREST in cheap labor, voter fraud, a dependent subpopulation...or, in the case of fiat money...they are in the gusher of seigniorage. There to soak up the Fake Money coming off the printing press or computer ledger, with its parasitic value sucked out of dollars EARNED.

They like that system; they profit from it...many of them are filthy-rich from it. From connections, not productivity. So...yeah, they'll try to obfuscate the issue and insist it cannot be done.
 

Bankers Are the Barbarous Relic, Not the Gold Standard.​

Mar 23, 2024


23:22
 
Long-run price stability could be a key feature of the gold standard, researchers with the Federal Reserve Bank of Philadelphia find.

In their working paper, published in February, Jesús Fernández-Villaverde and Daniel Sanches explore how the gold standard would operate as a monetary framework in a hypothetical small open economy ...
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www.centralbanking.com

Switch to gold standard could stabilise prices – Philadelphia Fed research - Central Banking

Hypothetical return to monetary system would only lead to short-term price movements, study finds
www.centralbanking.com www.centralbanking.com

Here's the paper:
We present a micro-founded monetary model of a small open economy to examine the behavior of money, prices, and output under the gold standard. In particular, we formally analyze Hume’s celebrated price-specie flow mechanism. Our framework incorporates the influence of international trade on the money supply in the Home country through gold flows. In the short run, a positive correlation exists between the quantity of money and the price level. Additionally, we demonstrate that money is non-neutral during the transition to the steady state, which has implications for welfare. While the gold standard exposes the Home country to short-term fluctuations in money, prices, and output caused by external shocks, it ensures long-term price stability as the quantity of money and prices only temporarily deviate from their steady-state levels. We discuss the importance of policy coordination for achieving efficiency under the gold standard and consider the role of fiat money in this environment. We also develop a version of the model with two large economies.
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papers.ssrn.com

Price-Level Determination Under the Gold Standard

We present a micro-founded monetary model of a small open economy to examine the behavior of money, prices, and output under the gold standard. In particular, w
papers.ssrn.com
 
Opinion piece, take it fwiw, dyodd.

Bring Back Gold!

We can return to a true gold standard, beating the inflationary monetary policy that gives the financial "elites" control over us.
goldseek.com goldseek.com
 
searcher said:
Opinion piece, take it fwiw, dyodd.

Bring Back Gold!

We can return to a true gold standard, beating the inflationary monetary policy that gives the financial "elites" control over us.
goldseek.com goldseek.com
Click to expand...
Sure, we can return to a Gold Standard.

All we lack is the will.

...oh, we have the will. We don't count. The MIC, the Pharma-Medical-Complex; the Social Engineers and their cronies who get filthy rich, supplying whatever panacea or crackpot government scheme, requires. Debit cards for 40 million alien invaders? Fund a proxy war with Russia, with a 10-percent rake-off for the Big Guy? It's as easy as CTRL+PRNT.

A Gold Standard kills it - deader than Elvis.

The only people who want a Gold Standard are MAGA Deplorables - and as has been shown, we don't count. We're racist-sexist-bigot-transphobe-Naht-zees, and voting for Literally-Hitler-Trump, PROVES it.

We won't get a gold standard until the dollar is reduced to toilet paper. The way things are going, that'll be in about, oh, 15 months.
 
There is a lot of ruin in a nation.

Even when the nation's elites decide it doesn't want to continue being a nation.

Dealing with Literally-Hitler HITLER, took over seven years. Even as they sapped morale in their own citizen ranks, fed six million into the furnaces, put their Grate Liter up on podiums to demonstrate just how insane he was.

We got a long, hard ride in front of us.
 
Casey Jones said:
Sure, we can return to a Gold Standard.

All we lack is the will.

...oh, we have the will. We don't count. The MIC, the Pharma-Medical-Complex; the Social Engineers and their cronies who get filthy rich, supplying whatever panacea or crackpot government scheme, requires. Debit cards for 40 million alien invaders? Fund a proxy war with Russia, with a 10-percent rake-off for the Big Guy? It's as easy as CTRL+PRNT.

A Gold Standard kills it - deader than Elvis.

The only people who want a Gold Standard are MAGA Deplorables - and as has been shown, we don't count. We're racist-sexist-bigot-transphobe-Naht-zees, and voting for Literally-Hitler-Trump, PROVES it.

We won't get a gold standard until the dollar is reduced to toilet paper. The way things are going, that'll be in about, oh, 15 months.
Click to expand...

Gold Standard means gold being used as everyday currency, either directly or through a gold backed currency.
Today you can do Gold Standard whenever you want, no need of waiting for some official declaration.



Don't ask what I think about cappuccino for dogs


We won't get a gold standard until the dollar is reduced to toilet paper.
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Not true
If your grocery store accept only $, just let part of your gold be converted in how much $ you need and pay with it at the checkout
 


For those that don't know, Judy Shelton was nominated by Trump for the Federal Reserve board but some Senators ended up blocking her confirmation.

en.wikipedia.org

Judy Shelton - Wikipedia

en.wikipedia.org en.wikipedia.org

Our chronicle of the saga:

www.pmbug.com

Trump To Reclaim Fed Reserve From Rothschild Family

If he does it, how long until he becomes the next president to be assassinated? Thing is, it doesn't sound like the long term plan is to end it, just wrest control out of some international oligarchy & put it under direct control of politicians. That might be fine when your party is in power...
www.pmbug.com www.pmbug.com
 

Believe It Or Not, The World Is Beginning To Lurch Forward To A New Gold Standard​

Apr 25, 2024

Steve Forbes explains that despite widespread and long-held contempt by economists, the gold standard is making a definite comeback—and this is stellar economic news for everyone.


4:03
 
Steve is always great on tv. He is best known as a former presidential candidate who advocated to replace our current system with a flst tax and the son of Malcom Forbes. The guy knows his stuff better than anybody. He would make a great Treadury Secretary.
 
nickndfl said:
en.m.wikipedia.org

Gold standard - Wikipedia

en.m.wikipedia.org en.m.wikipedia.org
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I think it's a misconception to think that the Gold Standard needs the monetary authorities - the managers of the national currency - to do something.
Gold Standard means using gold - i.e. a currency representing a fixed quantity of gold - as everyday currency.
When buyer and seller transact in gold, that's for me is Gold Standard.
E.g. using Kinesis' KAU is Gold Standard.
The Fed is not necessary in order to build and expand the Gold Standard. It's up to the people.
 
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