Posted on 11/02/2022 9:29:54 AM PDT by SeekAndFind
If I gave you all of my money for the month, it would already be a pittance. Wait until you all have to retire. When you are no longer a valuable cog in the financial wheel it is easier to see reality.
The reality is the financial system is built upon the bodies of billions of people, and it only truly enriches the top people. To steal an idea from a movie, we are just batteries. When we become “worth less”, we are scrapped and they erase the space between those two words and call us worthless. There is no jar in the back yard you can fill with gold coins for your retirement. You can though put away paper money, and throw away 10% a year to inflation, and of course the taxes. IOW, you are only valuable as long as you are able. The very bodies of working men and women is the power source of paper fiat currency.
You send them rice and oil in exchange for gold.
It is not a side effect “eroding US base” it is a feature.
I know it's not really what your post was about, but I have to add that hiding gold coins in a jar is actually a pretty good idea.
At the height of the Weimar Hyperinflation in 1923, five 1oz gold coins would have brought a six-room apartment in a nice area of Berlin.
This is because hyperinflation has strange effects on property prices. It's hard to be a landlord when rental incomes inflate to nothing, while hiring a plumber costs a million dollars (or marks, whatever). So a lot of property will plummet in value relative to real money.
Yes, being a store of value is one of the prerequisits of money.
If the electricity quit we would be in serious trouble wouldn’t we? :)
Maybe not, but then again you don't back currencies with yellow metals found principally in China and Russia.
Biden is about to lose control over fiscal policy when the GOP takes over Congress next week. And no, I don't think Xi Xinping has any interest in imposing a better monetary policy on the US than we have currently.
And then we had a balance of payments crisis and Nixon moved us off the gold standard and everything got better.
“but then again you don’t back currencies with yellow metals found principally in China and Russia.”
We have plenty of Gold just waiting to be mined ourselves. A lot of it...
“Worth is subjective and is relative to other things of value. Lets say gold is worth 100k
Per ounce. So how many bushels of grain would that ounce be worth?
About 3000 tons of known gold reserves. That's a lot! But it's only worth about $150 billion and the US GDP is around $25 trillion.
What I do know is the USA bailed out the UK in 1929 as their gold was dwindling to nothing. The measures the USA put in place put the USA into a depression while the UK only suffered a mild recession.
But I still think we need an honest money system to replace fiat.
We better us Gold that’s what our foes are going to do—The Ruble and Yuan will be gold backed.
Exactly and Nixon did the ultimate and decided to back the US dollar with receipts!!!
“and the US GDP is around $25 trillion. “
If you value it with worthless dollars.
At $100,000/ oz is there enough gold?
And it works terribly by destroying buying power for the citizen. Works great for central bankers, governments and investment bankers.
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