Posted on 12/27/2018 4:20:29 PM PST by entropy12
We've been post-Bretton Woods for almost 5 decades. No one is holding a note from the U.S. government redeemable in gold.
What they do hold are notes redeemable in Federal Reserve Notes, and they will be paid.
Never forget: "We can guarantee cash payments from here on out, what we cannot guarantee is the purchasing power of that cash." -Alan Greenspan during remarks on Social Security, Feb 16, 2005
Plan accordingly.
OK then may be the fed’s need that revenue from gold mines and are hanging on to it.
Since it mostly BLM land and etc. How bout they mine it and put it into the treasury coffers and go back to the gold and silver standard?
BTW. I dont know if you know it because I did not either, Nevada produced just about 5.5 million ounces of gold in 2016-17.
Now 5.0 times 1200 bucks amount to a hell of a lot of revenue.
Take away the production costs and I would bet that total revenue would be around 500,000 ounces or more.
AND THATS JUST GOLD. Now consider Silver, Platinum, Copper, etc.
Letting those lands for mineral rights should be let at a right of first refusal by the US Treasury.
“In just a couple of decades, at this rate, the interest payments on national debt will be the biggest item.”
Yeah I’ve been harping on this for years. The debt has been running up for years but Obama REALLY ran it up but interest rates were near zero. Now they are rising and interest on the debt will consume the budget. Trump’s concerned because it’s his swamp now.
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