[FreshPrince]

“In a truly free market, people will choose the good they want to use as money.”

aka bartering

[Alter Kaker]

There’s not enough gold to make this work. The total value of all the gold in the world is about $11 trillion, or less than half the annual gross domestic product in just the United States.

[MeganC]

Eh, the Fed seizing or trying to seize all of our gold and silver so they can use it to back their funny money won’t be far behind.

[algore]

We don’t have the gold, so we cannot make the rules.

[Openurmind]

Absolutely!

[DannyTN]

Really stupid idea. When the dollar was backed by gold...

• We had severe deflationary depressions every 20 years.
• We had severe year to year fluctuation in the value of the dollar, sometimes even 20% swings in year to year inflation/deflation.
• Congress devalued the dollar whenever there was a major crisis.
• Congress was still able to borrow and they have no hesitation about promising that your children will repay their debts with gold.

Other things to consider...

• China is the major producer of gold. Linking the dollar to gold gives China control over our monetary policy.
• Speculators like George Soros can manipulate commodities like gold much easier than they can the dollar.

[lula]

When was the last time anyone actually laid eyes on the gold in the Treasury?

[discostu]

No. The simple fact is most money isn’t physical anymore. It’s 1s and 0s flying around the world. We really don’t know how much of it is out there, we can’t control it, and therefore you can’t back it with anything.

[WKUHilltopper]

Eliminate the federal reserve.

[Gaffer]

Teturnin

IMO, returning to “the Gold Standard” would force this country that it doesn’t have gold on hand, OR that the ‘gold’ it does have is fake or concocted fantasy.

[Openurmind]

The horse/gold analogy.

In Roman times a good horse was equal exchange for one ounce of Gold.

In the 1800’s a good horse was equal exchange for one ounce of Gold.

Right now a good horse is equal exchange for one ounce of Gold.

The dollar “amounts” throughout time are irrelevant.

[Vermont Lt]

Only if the price of gold is somewhere in the $100k an ounce range. Which would be OK by me.

[dljordan]

I’d like to see an audit of the Fed and and audit of our gold supply.

[youngidiot]

This is a terrible idea. And the FED building 2% inflation per year into the system is also a terrible idea.

[muir_redwoods]

I had some fool tell there wasn’t enough physical gold in the whole world to back up authorized US currency.

I asked if it sold for $100,000/oz would there be enough physical gold?

One could almost see the light in his eyes.

[taxcontrol]

Needs a transition step - GEOs Gold Equivalent Oz

Basically convert all assets to an estimated dollar amount, then covert to gold oz (all on paper). Congress then sets the currency exchange rate for the next 10 years. X dollars in circulation vs Y GEOs. Then limit the production of dollars to maintain this ratio.

This then helps to disentangle the currency from the Federal Reserve. This also would enable a gradual alteration of that ratio to reflect a specific gold ratio.

[chuckles]

I thought we were heading towards Bitcoin? What happened to that? If gold was $100k and ounce, maybe it would work.

Instead of worrying about what gold and Bitcoin might be worth on any day, why not just stop spending?

[Boogieman]

“The bill highlights that the inflationary US dollar has been eroding the industrial base of the US economy, enriching the owners of financial assets, while endangering workers’ jobs, wages, and savings.”

Yeah, that’s called “working as intended”. This is what happens when you let the financial sector control you currency. They implement a currency that robs everyone else in society for their own benefit.

[Glad2bnuts]

Nearly every single American is addicted to credit purchases. The world system is addicted to and runs on a system of finances directly in opposition to the Creator of the Universe, God, Jehovah, Yehova, Christ, the great IAM. Until what is to come, this system of paying a tax to those who make the credit/money available is not going away.

Without the ability to pretend that digits on a computer are worth something, the paper dollars in your pocket, the crypto in the cloud are just so much junk. Business cannot operate, farmers cannot plant or sow, chinese builders of our power production cannot send us a few measly KWh producing things. It all grinds to a halt. In short, we are well and truly hosed.

I would love to get back to a value backed currency, but anyone that gets close to it will be killed or lose their power to be heard.

We are living in satans world. He designed the power structure to be this way through those who would bow.

He offered Christ the entire world, if he would just bow down to him. He couldn’t have done that without having the power to grant it. So we are stuck until a Messiah comes and sets things straight. Spiritually we are not under the control of Earthly things, but physically we still are.

Come quickly Lord Jesus and let it be so.

[catnipman]

works as long as gold price is ten million dollars per ounce ...