Posted on 10/22/2010 5:14:13 PM PDT by citizenredstater9271
Gold is the only real money. Fiat is fake and a form of control.
Sigh....
Your hypothesis is easily proven wrong. The Massachusetts Bay colony used colonial script quite successfully until England undermined it.
Great Britain used wooden "tally sticks" very successfully for close to 700 years!
The problem is not fiat currency. The problem is that our fiat currency is based on debt, since it is issued by the Fed.
Our currency needs to be issued by the US Treasury, so that US Treasury debt (securities) does not need to be issued against it.
Gold is simply a commodity.
If gold were money then goldbugs like yourself would refer to dollars in terms of gold, instead of gold in terms of dollars.
Silver is money. Gold is a scam.
If the Fed bought something else with new money, that would be okay?
Our currency needs to be issued by the US Treasury, so that US Treasury debt (securities) does not need to be issued against it.
The Treasury debt exists before the Fed acts.
Currency is not MONEY... it is a promise of money... an I.O.U...
Gold is simply a commodity.
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I disagree. steel is a commodity. Gold is not a true commodity because there’s no real use for gold other than jewelry and coins. And jewelry is more of an artform than a legitimate product.
The Fed needs be dissolved. Easier said than done - but it needs to go.
The Treasury debt exists before the Fed acts.
'tis true. And the Fed couldn't act in creating currency if that debt didn't exist (unless it usurped the Federal Reserve Act and purchased some other form of debt).
Currency is money. It's a type of money that pays 0% nominal interest and has immediate maturity.
How about electronics? It's used all over the place in manufacturing.
Sure it could. They could buy oil or autos or fried chicken or anything.
Any purchase creates new money.
You are probably WRONG about other things also...
There is a third possible use for the stuff: half again denser than lead, soft, and totally inert, gold would be the absolute ideal metal for waterfowl shot. You could kill geese all day long with 2.75" shells, and %7 shot, or at most %6. But at today's prices, that would be around $2000 a shot.
But there is in fact hope. Plasma physicists are now fairly certain that all agglomeration of mass into solid form (99.999% of the material in the universe is in plasma form) in the universe is via the Z-pinch effect associated with Birklande currents, which is why we ever find any heavy metals near the planet's surface at all. That says it may shortly in fact become possibly to simply MAKE gold and other metals out of water, dirt, or whatever is to hand and the stuff might in fact become cheap enough to hunt geese with. You'd have to alloy it with something harder to make it withstand the acceleration without deforming of course or you'd never hit anything past 20 yards.
There is also as I noted the fact that we are in a deflationary spiral at present and that is not likely to change soon, while gold is normally thought of as a hedge against inflation. Caveat Emptor.
Ever heard of the Federal Reserve Act? Those purchases are off limits.
Besides, fried chicken would start smelling pretty funny after a little while.
I'm sure that I'm wrong about a lot of things...
But currency being money isn't one of them.
Show me.
Besides, fried chicken would start smelling pretty funny after a little while.
And yet, the money supply would still increase.
.......”The purpose of this financial crisis is to take down the U.S. dollar as the stable datum of planetary finance and, in the midst of the resulting confusion, put in its place a Global Monetary Authority [GMA - run directly by international bankers freed of any government control] -a planetary financial control organization”...... Bruise Wiseman”
This is just more ‘consolidation of our monetary system’ to set us up for the day they assume control of all systems in every nation and merge them into one block.
http://www.federalreserve.gov/aboutthefed/section14.htm
In particular:
2.To buy and sell in the open market, under the direction and regulations of the Federal Open Market Committee, any obligation which is a direct obligation of, or fully guaranteed as to principal and interest by, any agency of the United States.
And yet, the money supply would still increase.
Yes, the money supply would increase if the Fed was allowed to play Colonel Sanders...
Heading home...have a good weekend.
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