One thing we can do is cancel the discount on the notes and the idea they’ve been borrowed from the Federal Reserve Bank. They created them out of journal entry. . . after our printer printed them, and the the FEDERAL RESERVE LOANED THEM BACK TO US! Why do we need the damn middle man earning that damn discount? If we want fiat money, we are perfectly capable of issuing our own without them taking an unearned chunk.
A couple years back I ran the numbers on mintage of gold and silver eagles and we were well past the point where the number available to circulate had become proportional to that which circulated prior to 1933.
I fully believe that one of Ron Paul’s purposes in that legislation was to provide the core of an exchange system for eventual use for the demise of the FED or its fiat currency.
Even more interesting is that around the approach or time of the 08 crash the obverse of the coins were changed so the u in United States became lowercase which is the oft mentioned difference between the United States as a corporation and the united States as a union of associated states in a Republic.
> “Why do we need the damn middle man earning that damn discount?”
Now you’re talking! It’s a subject I’ve mentioned over the years that causes bankers to squeal. I love the sound of bankers squealing in the morning like pigs sliding down a snow-covered hill into an icy pond below.
There will not be a return to a gold-based system, not to one that will ever work, because .....
GOLD IS STUPID.
There are two events in history now unfolding that define the future, meaning the next few decades:
1. The USA emerging as the world’s high-quality oil supplier leader (http://www.breitbart.com/big-government/2018/03/05/international-energy-agency-says-america-will-dominate-energy-markets/?utm_source=newsletter&utm_medium=email&utm_term=daily&utm_content=links&utm_campaign=20180305)
2. Block Chain Technology leading to a decentralization of the world economy and importantly, to the obsolescence of the banking industry, especially to the fall of central banks which serve as the economic engines of the deep state stasi groups.
Gold ain’t where it’s at. I could write a series of papers arguing and rebutting all counterarguments as to the utility of gold as a measuring rod of value. But, ...
GOLD IS STUPID
is a title that encapsulates a book on the subject complete with all attendant mathematics and econometric analyses.
Gold is not rare and it is now synthesizable.
Collecting gold ions of all oceans and rivers yields a large mountain equivalent. Ultrasound technology, cavitation, extraction of a water body or stream yields a sludge from which gold can be extracted. It’s not a cheap process but if gold were to increase according to volatile Chinese emotional ups and downs, at some point gold could reach Bitcoin values (or alternatively crash), at which point gold seekers would be mining sea sludge. Don’t laugh.
But in competition with the gold rush sludge frenzy, gold would be synthesized from elements of abundance using nuclear transmutation. Again, not an inexpensive process.
But why do it?
Not many in an advanced society want to carry around heavy gold pieces juggling around in their pockets and purses.
Nor is it necessary to index a currency against a quantity of gold (which is not as rare as is popularly believed) when other ‘rare fixed’ things of society would do just as well if not better, such as the total quantity of arable land owned by the public minus that controlled by federal, state, and local governments.
But the real ‘gold’ of the future, is in the regulated risk pools for conversion exchange of BCT-based cryptocurrencies where each cryptocurrency has its own basket of assets for valuation trading at market and where exchange transactions themselves are BCT driven.
Gold is just a yellow metal. Originally a value was forced on it by stamping some rulers head outline on it. IOW, a forced value.
It is pretty, but heavy and cumbersome to transport.
It has a folklore following but is expensive to secure.
It tempts opponents to attack and take, or slither and steal. IOW it’s a war waiting to start.
Once stored and secured, the public is not allowed to see it unless via cameras which of course could be faked.
It was once preferred by dentists as it malleability was superior in filling teeth, but no modern dentist today will use it as it is unsightly in a modern setting. Besides, who would want grannies put at risk of mugging for their gold fillings?
It’s a pain in the butt to store and transport. It’s a pain in the butt to verify.
It’s primitive and sets advanced societies back to times that were cumbersome and crude.
A nation’s currency will be better served if it is formula based on intangibles that matter to its citizens such as health, freedom, wealth, education, environment, and other statistics such as low government tax and regulatory burden, low infant mortality rates, high public health levels, high percentage home ownership.