Posted on 11/06/2018 8:20:22 AM PST by bitt
When owns the notes ?
Debt is always To somebody
IMF is ready for a world wide finanical collapse reset and have a global currency waiting.
On your Mark
Get ready
Go
https://www.imf.org/en/Publications/WP/Issues/2017/03/27/The-Macroeconomics-of-De-Cashing-44768
IMF WORKING PAPERS
The Macroeconomics of De-Cashing
Author/Editor:
Alexei P Kireyev
Publication Date:
March 27, 2017
Electronic Access:
Free Full Text. Use the free Adobe Acrobat Reader to view this PDF
Summary:
The paper presents a simple framework for the analysis of the macroeconomic implications of de-cashing. Defined as replacing paper currency with convertible deposits, de-cashing would affect all key macroeconomic sectors. The overall macreconomic impact of de-cashing would depend on the balance of growth-enhancing and growth-constraining factors. Starting from a traditional saving-investment balance, the paper develops a four-sector macroeconomic framework. It is purely illustrative and is designed to provide a roadmap for a systematic evaluation of de-cashing. The framework is disaggregated into the real, fiscal, monetary, and external sectors and potential implications of de-cashing are then identified in each sector. Finally, the paper draws a balance on possible positive and negative macroeconomic implications of de-cashing, and proposes policies capable of augmenting its economic and social benefits, while reducing potential costs.
Series:
Working Paper No. 17/71
Financial Reset coming...
Text - H.R.5404 - 115th Congress (2017-2018): To define the dollar as a fixed weight of gold. | Congress.gov | Library of Congress
https://www.congress.gov/bill/115th-congress/house-bill/5404/text
Introduced in House (03/22/2018)
115th CONGRESS
2d Session
H. R. 5404
To define the dollar as a fixed weight of gold.
IN THE HOUSE OF REPRESENTATIVES
March 22, 2018
Mr. Mooney of West Virginia introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To define the dollar as a fixed weight of gold.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. FINDINGS.
Congress finds the following:
(1) The United States dollar has lost 30 percent of its purchasing power since 2000, and 96 percent of its purchasing power since the end of the gold standard in 1913.
(2) Under the Federal Reserve’s 2 percent inflation objective, the dollar loses half of its purchasing power every generation, or 35 years.
(3) American families need long-term price stability to meet their household spending needs, save money, and plan for retirement.
(4) The Federal Reserve policy of long-term inflation has made American manufacturing uncompetitive, raising the cost of United States manufactured goods by more than 40 percent since 2000, compared to less than 20 percent in Germany and France.
(5) Between 2000 and 2010, United States manufacturing employment shrunk by one-third after holding steady for 30 years at nearly 20,000,000 jobs.
(6) The American economy needs a stable dollar, fixed exchange rates, and money supply controlled by the market not the government.
(7) The gold standard puts control of the money supply with the market instead of the Federal Reserve.
(8) The gold standard means legal tender defined by and convertible into a certain quantity of gold.
(9) Under the gold standard through 1913 the United States economy grew at an annual average of four percent, one-third larger than the growth rate since then and twice the level since 2000.
(10) The international gold exchange standard from 1914 to 1971 did not provide for a United States dollar convertible into gold, and therefore helped cause the Great Depression and stagflation.
(11) The Federal Reserve’s trickle down policy of expanding the money supply with no demand for it has enriched the owners of financial assets but endangered the jobs, wages, and savings of blue collar workers.
(12) Restoring American middle-class prosperity requires change in monetary policy authorized to Congress in Article I, Section 8, Clause 5 of the Constitution.
SEC. 2. DEFINE THE DOLLAR IN TERMS OF GOLD.
Effective 30 months after the date of enactment of this Act—
(1) the Secretary of the Treasury (in this Act referred to as the “Secretary”) shall define the dollar in terms of a fixed weight of gold, based on that day’s closing market price of gold; and
(2) Federal Reserve Banks shall make Federal Reserve notes exchangeable with gold at the statutory gold definition of the dollar.
SEC. 3. DISCLOSURE OF HOLDING.
During the 30-month period following the date of enactment of this Act, the United States Government shall take timely and reasonable steps to disclose all of its holdings of gold, together with a contemporaneous report of any United States governmental purchases or sales, thus enhancing the ability of the market and of market participants to arrive at the fixed dollar-gold parity in an orderly fashion.
Apr 6, 2018,10:39 am
After 34 Years, We Again Have A Bill To Relink The Dollar To Gold
Nathan Lewis Forbes Contributor
I write about monetary and tax policy for the 21st century.
The value of the dollar was linked to gold — that is, the U.S. used a “gold standard” — for most of the time between 1789 and 1971, a stretch of 182 years. From 1789 to 1933 (ignoring for now a minor adjustment within the bimetallic system in 1834), the “parity value” was $20.67/oz. From 1934 to 1971, the parity value was $35/oz. In other words, the dollar’s value was to remain stable at 1/35th of an ounce of gold. Other major currencies — the British pound, French franc, German mark, Japanese yen, and many others — followed a similar policy, with the result that exchange rates were also fixed and unchanging.
For much of the past five centuries throughout the Western world, this was “normal.” The floating currency environment we have today, which academic economists like to suggest is some kind of natural economic phenomenon, is actually an aberration. The dollar’s value has declined to about one-thirtieth of what it was in 1970, compared to gold, with predictable consequences. If the next fifty years are no better than the last, the dollar will be worth no more than a thousandth of its value during the Kennedy administration.
Is this what a great nation does? The historical record is clear: this sort of thing has been done by many great nations, in their “decline and fall” phase.
Value of the U.S. dollar vs. gold, 1790-2017NEWWORLDECONOMICS.COM
In 1984, the remarkable Congressman Jack Kemp introduced the Gold Standard Act of 1984, which was cosponsored by seven others including Newt Gingrich and Connie Mack. It didn’t pass. In March of this year, 34 years later, Congressman Alexander Mooney (R-WV) introduced H.R. 5404, “a Bill to define the dollar as a fixed weight of gold.” Mooney also wrote an op-ed about it for the Wall Street Journal.
A dollar relinked to gold was always part of Jack Kemp’s “supply side” vision. In those days, I think most people couldn’t make much sense of what he was talking about. That seems to be changing today. I am seeing more interest in the topic among younger people; and not only more interest, but also more sophistication. This item from FTAlphaville’s Matthew Klein, asks a question that I like to ask too: if it’s OK to link over fifty countries’ currencies to the euro, why not to gold? Well, obviously it is not only “OK,” the results can be quite fabulous, as the wonderful Classical Gold Standard era of 1880-1914 demonstrated so well. The euro is on the “PhD standard,” which, in all of known history, has never been able to outperform the gold standard.
For the 1980 presidential election, Ronald Reagan recorded a television commercial promising to return the dollar to its golden anchor. The ad didn’t run, and for a long time it remained little more than an urban legend. In 2016, the Lone Star Committee managed to find the original, and used it as part of a television commercial in support of Ted Cruz.
Monetary issues are not front-and-center at this time, in no small part because we haven’t had any big problems. The “Yellen gold standard” kept things tolerably stable — perhaps in small part due to the group of gold standard advocates who, in a private meeting with Yellen in 2015, explained why Alan Greenspan says he considers gold to be a primary monetary indicator.
I think we are building a foundation of expertise — expertise that we didn’t have in 1980 — that will allow us to restore the United States’ long tradition of gold-based money, when the political time is right. My own book Gold: the Final Standard came out last year, completing the “gold trilogy” that includes Gold: the Once and Future Money (2007) and Gold: the Monetary Polaris (2013).
Eventually, someone like Alexander Mooney will introduce a bill like HR 5404, and it will pass. It will pass because it is the right thing at the right time; and also, because we have the confidence that we actually know how to do it.
I write about economic topics in the Classical or “supply side” tradition. My website is: newworldeconomics.com.
or a cashless society?
Or a society wherein 60% has a net worth of ‘0 dollars’..
.
That is what the adversary has planned anyway.
Yehova will see it dirrerently.
I have posted on this phenomenon before - pinged you I think. This {pdf} has to do with a cashless society, and some countries are currently moving in that direction by first eliminating large denomination bills.
This practice would put the global billionaires and bankers [IMF] in charge of all sovereign economies AND in charge of individual spending. Your wealth would be digital and under their control.
I interpret this as moving to set up the kingdom of the antichrist: none can buy or sell without the mark...
Do you have any gold? A fixed weight would seem to me to lock up any economic growth, tied only to whatever amount of gold a country - or an individual - possesses. Then our economy would become a 'pie', wherein if one entity gained a larger piece of that pie then some other entity would have to lose part of their piece of that pie. Tying the dollar once again to gold sounds like good policy, but perhaps a changing value - as opposed to fixed - depending upon growth, production and GNP.
Beyond that, read my #27 above.
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