Posted on 11/07/2010 7:19:06 PM PST by Fred
On the even of the G20 Summit, World Bank Chief Robert Zoellick has what will be a much-talked-about op-ed in the FT regarding the topic du jour: the currency war.
In it he lays out multiple ideas including a specific plan for yuan appreciation, an end to unilateral currency interventions, a focus on growth via "supply-side-bottlenecks (i.e. structural adjustment), and perhaps most surprisingly: gold.
He writes:
The system should also consider employing gold as an international reference point of market expectations about inflation,
(Excerpt) Read more at businessinsider.com ...
Op-Ed in ft.com
The G20 must look beyond Bretton Woods
By Robert Zoellick
http://www.ft.com/cms/s/0/5bb39488-ea99-11df-b28d-00144feab49a.html#axzz14djE7mIW
Someone is finally listening to Wanniski, Mundell and Reagan after all these years.
Ping
But as a general statement, with the right implementation, I think a gold standard would be very good. Gold would have to be about $5000 an ounce, but I'm fine with that.
Not so fast, Slick.
Lets us talk about who gets to walk up the gallows first.
/johnny
More like $50,000 an ounce; pile in while you can...
Interesting. Friday November 5 2010...secretofoz.com posted this...
“Finally a German-led coalition within the IMF will offer the solution — gold backed international money to stop the inflationary spiral. The desperate once-sovereign nations will have no choice but capitulation.”
Goldman is long on Gold, Zoellick prior to being the World Bank President was a managing director for Goldman.
Global Economy Control. Be careful folks, especially if the price of gold is in their hands.
Wouldn't they have to confiscate all gold?
But wait, there’s more...
And as ABC notes today, the bill contains a stealth provision requiring tracking - and thus tax reporting - of physical gold transactions:
[The health care legislation contains] a scarcely noticed tack-on provision to the law that puts gold coin buyers and sellers under closer government scrutiny.
***
Section 9006 of the Patient Protection and Affordable Care Act will amend the Internal Revenue Code to expand the scope of Form 1099. Currently, 1099 forms are used to track and report the miscellaneous income associated with services rendered by independent contractors or self-employed individuals.
Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change.
This provision, intended to mine what the IRS deems a vast reservoir of uncollected income tax, was included in the health care legislation ostensibly as a way to pay for it.
***
So every time a member of the public sells more than $600 worth of gold to a dealer, [Diane Piret, industry affairs director for the Industry Council for Tangible Assets, a trade association representing an estimated 5,000 coin and bullion dealers in the U.S.] said, the transaction will have to be reported to the government by the buyer.
http://georgewashington2.blogspot.com/2010/07/government-admits-health-care-bill-is.html
Now we know why the 16,000+ IRS agents need to be hired?
Repeal this totalitarian POS now.
Life, liberty and the pursuit and destruction of totalitarians.
Soooo.... for about a century, they want us on fiat paper, and NOW want to go back to real money before they get screwed out of everything?
Not so fast, Slick.
Lets us talk about who gets to walk up the gallows first.
Global Economy Control. Be careful folks, especially if the price of gold is in their hands.
BUMP! BUMP! BUMP!
Links BUMP! Thanks.
Not only Gold what about Guns? Just think how this can be used to track people who buy/sell Guns. This legislation actually is for EVERYONE who does any business over $600 a year.
Everyone will have to report all outlays over $600 — not just wage payments.
That legislation is going to add costs to all business’s even non profits, it will cause more small business’s to go out of business since larger firms will start to limit who they do business with to avoid all the extra paperwork and small business’s that are barely making it would have to hire someone just to do all the paperwork it creates.
I’d be happy with $1400 dollars an ounce, which is what gold just flirted with.
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