Back to the gold standard?

American Thinker ^ | 5-15-19 | Nathan Williamson

[marktwain]

Lots of things wrong with the article.

The U.S. did not have “nearly two centuries” of the gold standard.

The U.S. only established a gold currency when the Constitution was ratified, in 1788.

That standard, of $20 per ounce of gold, lasted until 1934, when Franklin Roosevelt outlawed the private ownership of gold, and changed the “standard” from $20 per ounce to $35 per ounce, providing a one time inflation of the currency of 75%!

So the gold standard was only in effect from 1788 to 1934. 156 years.

Gold worked well, but fiat currency has worked better for the United States.

Why? Because the gold standard resulted in the destruction of the British Empire. They could not monetize the costs of empire, and they were forced to give it up.

On the other hand, Pax Americana, (an extension of Pax Britannica), has monetized much of the cost of maintaining a world order (freedom of the seas, international trade, communications, and general lack of boundary erasing conquests).

We would have a hard time with the Chinese owning a significant part of our debt, with the gold standard. As it is, when they ask for payment, we write them an electronic check. The electrons are virtually free. We do not even have to print paper.

Could a gold standard work again? Hard to say. People have grown unaccustomed to dealing in gold.

[varon]

Invest in brass and lead, aka ammo.

Excellent investment advice.....

[wattsgnu]

I’m college educated, but I never understood monetary policy with respect to the gold standard. I seem to have a mental block in understanding it. I didn’t understand how the printing of money (quantitative easing) didn’t cause runaway inflation or at least wreck the value of the dollar. I wonder if that is true for most of the population?

[TheRightGuy]

Invest in brass and lead, aka ammo.

NOW you're talking precious metals!

[DannyTN]

When prices decline, people hold their money. Why invest if you can just hold cash and wait for purchasing power to increase?

That is one of the driving forces behind deflationary depressions.

[PGR88]

No way 40 straight years of trade imbalances would’ve happened under the international gold standard.

Yes. In fact, it was exactly this, which was the impetus to go off the gold standard. US balance of payments and trade deficits became steadily worse in the 1960s, as LBJ ran bigger debts, created social welfare programs, and waged war all at once. All were very inflationary.

French finance minister Jaques Rueff, and his boss, Charles De Gaulle, saw the USA's increasing debt and more dollars flowing abroad. They worried about a flood of dollars, and instead demanded their dollars be exchanged for gold. Instead of cutting government spending, reigning in deficits, raising interest rates, or limiting the welfare state - Nixon rather decided to shut down gold convertibility in 1971.

With that control gone, it was off to the races for US government debt, and especially for Federal Reserve manipulation of the economy via monetary policy.

[PGR88]

as it is, when they ask for payment, we write them an electronic check. The electrons are virtually free. We do not even have to print paper.

Its nice we are "screwing" the Chinese and that they will take electronic representations of pieces of paper with George Washington's face on them in exchange for TVs and shoes - but unfortunately, I am getting screwed at the same time with a higher cost of living, destruction of my wages and particularly, my savings.

[marktwain]

I wish the gold standard would solve all problems, but it won't. President Trump is doing a decent job at correcting the problems with the Chinese. A gold standard might have prevented them from occurring, but I doubt it. Without a relatively stable world, savings become meaningless. The U.S. is the sole world superpower. We became that because our capitalist system, tempered by Christianity, has been incredibly productive and successful.

Now that we are at the top, we cannot abdicate our power without having a decrease in our purchasing power, it seems.

I wish I had an easy solution.

[walkingdead]

What we need to do is put a stop to fractional banking.

Be it gold, or notched sticks, if you allow fractional banking to continue, nothing will be fixed. It is the root of all the manipulation we see.

[Garth Tater]

"reality is that current system needs a global collapse before sound money can return."

Order out of chaos. All part of the plan - and unfortunately the plan does not include the  general population  serfs using sound money.

[A strike]

Exactly why Stephen Moore and Herman Cain were shot down.

[A strike]

Wrong.

[A strike]

” Invest in brass and lead, AKA ammo. “

zxactly !

[PGR88]

When prices decline, people hold their money. Why invest if you can just hold cash and wait for purchasing power to increase? That is one of the driving forces behind deflationary depressions.

No. People will buy what they need and want, when they want it. I did not hold off buying an Intel Pentium computer in 1995 for $3000 even though I could buy an iMac 20 years later for half the price and 100x the power.

Deflationary depressions are caused by the collapse of debt bubbles. Yes, that will cause great dislocation and pain - but those bubbles should have never been blown-up in the first place. And that's solely due to manipulated interest rates in a printed, unbacked currency. A perfect example - US housing market of the 2000s. How was the housing bubble supported in the first place? US Fed.government subsidies and interest rates pushed low by the Fed (in response to the tech bubble collapse).

[Pajamajan]

Bookmark

[TruthFactor]

If I’m not mistaken, the beginning of long downward spiral of middle-class wages coincides with going off of the Gold Standard.

[samtheman]

Still wonder what the he11 Nixon was thinking.
—
I think this does a decent job of explaining Nixon’s thinking:

https://en.wikipedia.org/wiki/Nixon_shock

[EasySt]

Some ammo for battle in this space...

http://www.themoneymasters.com/

The Money Masters (full. 3.5 hours)

2017 Mises Institute Annual Report

The Mises Report

mises.org/wire/why-social-democracy-failing-europe?

The problems with fiat money become even more dangerous
in the world of International Economics:
https://mises.org/wire/what-mises-teaches-us-about-international-economics?

The Federal Reserve, Central banks, World Banks, Creating money from thin air.
The Fed needs to be audited, restructured back into
congress' control as per the Constitution.

For those that need a refresher on our money system.
Learn it, because it needs to go ASAP.

Greenbacks and notes, like Lincoln did before the Civil War.
Payed off the debt and the cost of the war.
Told the bankers to pack sand.
(see Money Masters link below)
How long do we work per year just to pay taxes? 4-5 months?
What could you do for your family if you could actually
save/spend this money how you see fit?

Videos:

Who Controls the Money Controls the WorldHookTube - 13mins
https://www.hooktube.com/watch?v=YDYfyAQ8lUI&list=PLPn41ub1tBJJFnl7L-tUJ4x8v6wgExjgi

Collapse of the American Dream AnimationHookTube - 30mins
https://www.hooktube.com/watch?v=mII9NZ8MMVM

Money Masters 1800 - Bill Still - This starts at a part about Lincoln/Civil War funding, but the entire vid is worth watching.
https://youtu.be/HBk5XV1ExoQ?t=4503

Can Trump end the FED?HookTube - 10mins
https://www.hooktube.com/watch?v=FH5IxkTFM4Y&feature=youtu.be

97% Owned ~ Economic TruthHookTube - From a EU prospective, 2hrs
https://www.hooktube.com/watch?v=XcGh1Dex4Yo

Princes of the Yen Central Bank Truth DocumentaryHookTube – Asian prospective, - 90min
https://www.hooktube.com/watch?v=p5Ac7ap_MAY

Hidden Secrets of MoneyHookTube - episode 4. - 30mins. The rest of the series is good to.
https://www.hooktube.com/watch?v=iFDe5kUUyT0&feature=youtu.be

Money as DebtHookTube - Good Series of Vids
https://www.hooktube.com/watch?v=0taBYaB_Zh4&list=PLdMxiaZGboJSgU2raUksCFGSUfWS8eHR8

You have NO choiceHookTube - George Carlin - 3min
https://www.hooktube.com/watch?v=_7U5JVk_y7U&feature=youtu.be

America: Freedom to FascisimHookTube - Aaron Rousso - 2hrs30mins
https://www.hooktube.com/watch?v=O6ayb02bwp0&feature=youtu.be

How Central Bankers reshaped the world economy following the 2008 economic crisisHookTube - 25mins
https://www.hooktube.com/watch?v=5DpuhSeVzn0&feature=youtu.be

#Qanon, Dollar Collapse, Trump Ending the Fed - with Wayne Jett, Pt. 1 HookTube - 41mins
https://www.hooktube.com/watch?v=cH-iHWuJJow

#Qanon, Dollar Collapse, Trump Ending the Fed - with Wayne Jett, Pt. 2 HookTube - 40mins
https://www.hooktube.com/watch?v=PAM1J6uDc6c

Web:

The Value of the Dollar over time.GIF

How much is A Trillion dollars?
https://ihtd.org/festivalguide/resources/how-much-is-a-trillion-dollars/

The Federal Reserve - History of Lies, Thievery & Deceit
http://www.scionofzion.com/federalreserve.htm

The Creature of Jekyll Island - full PDF
http://www.jrclifford.com/TM-Creature_for_Jeckyll_Island.pdf

Andrew Jackson shuts down Second Bank of the U.S. 9-10-1833
https://www.history.com/this-day-in-history/andrew-jackson-shuts-down-second-bank-of-the-u-s

Neilkeenan.com/history-events-timeline/ - long but worthwhile read.
http://neilkeenan.com/history-events-timeline/

The Federal Reserve Act of 1913
https://www.armstrongeconomics.com/library-research/federal-reserve-act-of-december-23-1913/

The Federal Reserve - All the things
http://www.pearltrees.com/predrax/the-fed-federal-reserve/id3438606

BANKS, SHAREHOLDERS, AND OWNERS OF THE FEDERAL RESERVE SYSTEM
https://zirpqe.wordpress.com/2016/02/08/here-are-the-member-banks-shareholders-and-owners-of-the-federal-reserve-system/#more-15462

12 Federal Reserve Banks
https://i.redditmedia.com/JFtZQ2wQjixrumiy3kcJclKiSuet-awlLER8Z8nXvJ0.jpg?w=1024&s=1a59fb163bef776ce7b4c8328e7c7b7f

US Fed Wiki
https://en.wikipedia.org/wiki/Federal_Reserve_Bank

Federal Reserve Research Tool - Create graphs comparing many categories. Great visualizations!
https://research.stlouisfed.org/useraccount/login/secure/

Read this one too.
https://web.archive.org/web/20040717041959/http://nesara.org:80/files/nesara.pdf

The National Economic Security and Recovery Act - NESARA by Harvey Francis Barnard.
https://web.archive.org/web/20141011064622/http://nesara.org:80/articles/the_real_nesara.htm

The actual bill, not the 'Shaini Candace Goodwin' scam......
This bill was never brought to the floor. Few other than Rand Paul even considered it.
I feel it is something we should look at very hard.

The now defunct NESARA sight on WayBackMachine.
https://web.archive.org/web/20070501112646/http://nesara.org:80/main/welcome.htm

NESARA Wikipedia
https://en.wikipedia.org/wiki/NESARA

What does NESARA actually do if passed?
https://imgur.com/cz3OeSe

CTRL-FED-DELJPG - Meme

And for fun. We MAGA! A Bugs Life HookTube - 1min
https://hooktube.com/watch?v=VLbWnJGlyMU

[PGR88]

I wish I had an easy solution.

At least you admit there is no easy solution. It seems politicians and policy-makers have to fixate on one direction/slogan/narrative and go to the extreme in that direction.

China and a US/world gold standard would be a fascinating thing. China is the quintessential mercantilist country. It has what is basically a fascist economic structure - top down control, central-planning and everything ultimately coming back to the state. It has organized its population as productive units to serve the purpose of building the country per Party plans, and exports. It attempts to squash all economic and social trends which run counter to its policies. As central planners of course, many of their policies back-fire or create problems within China.

No doubt their policy would be - let's collect all the world's gold - and we win!

Even 20th century economists never considered such a country as China.

[algore]

I disagree, yes it is likely that the USD will lose reserve status, there are “evil” countries and complicit parisites (bankers,politicians) who are trying to make that happen, however this will not be a global collapse It will have an epicenter here.

There are many countries that will survive very well

They will stand far off, in fear of her torment, and say, “Alas! Alas! You great city, you mighty city, Babylon! For in a single hour your judgment has come.”

... And the meek shall inherit the earth

while I think you should possibly have some of the shiny stuff, who besides a few know what it is worth ?
yeah probably some preppy people, but overall not a high percentage at least in the US.