Return to Gold Standard and price per ounce

Your economic analysis is incomplete. When the Treasury issues a bond and it is purchased by an individual, it is not deflationary. Every dollar that is surrendered by the individual becomes proceeds to the Treasury and is spent. This part of the transaction is clearly neutral.

I'll leave it to the audience to decide whether your theory that increases in Treasury debt levels strengthen the dollar is true. I can't teach you economics in this forum. You are too far gone. I suppose that if we tripled the national debt, in your model the dollar would be three times as strong.

If that is the best you can come up with, then clearly everything I said is factual, and I stand by what I said. I don't defend or stand by any post by any other person, so you'll have to go after them about what they say. I speak only for myself. I have never "peddled" the gold standard. It is also incorrect to say that gold is not a monetary asset and cannot be money. It already has been money. My primary interest has always been in how the gold standard worked -- not how uninformed people think it worked. My secondary interest is in how it might work today with the vast improvements in bank regulation and electronic banking that didn't exist prior to World War I. Gold circulated as money until the 1930s. It was used as money in settling international trade balances until 1971. It is still used as a monetary asset by central banks and the IMF today. Gold is money. These are irrefutable facts regardless of whether or not you like them. I am not paranoid and spread no paranoia. I am not resentful. I have no expectations for a restoration of the gold system. I do well enough under the present situation. So you can smash away if it makes you happy. Just don't expect me to be pleasant when you call me a liar.

 

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No - Don't bother. Just read the news about Chinese purchases of US T-Bills and the impact it has on supporting a strong Dolllar, which is exactly what China wants....

Helloooo!!!! Are you with the rest of us?

Ruben

 

No - it is NOT NOT NOT money.

Let me see you pay your taxes with Gold....

Subway tokens are closer to money than Gold is.

Ruben

 

or maybe you can get the IRS to accept "Liberty Dollars" for your tax bill.

Ruben

 

Wrong. The Treasury prints money AS NEEDED and absorbs money AS NEEDED. WHen you buy a savings bond, those dollars goes POOF. They are OUT of circulation and OFF the market. Treasury spending and treasury proceeds do not WORK like your checking account. They don't BOUNCE checks. When they spend, they directly expand the money supply and when they accept funds they DIRECTLY reduce the money supply.

If they increased the Tbonds to 30% tomorrow, the result will be a huge reduction in circulating dollars, and the price of Dollars would skyrocket on the international markets. Foreign goods would drop like a rock in price, and private investment in the US would be sucked dry, causing a huge amount of unemployment...

all of which is about exactly what would happen in you attempted to use a Gold Standard...BTW...and for the same reason...NOT ENOUGH DOLLARS for commerce.

Ruben

Ruben

 

Ever wonder why Chase did so well gulping up competition during the economic collapse? Well, JP Morgan dynasty was one of the founders of the Federal Reserve. He is in fact correct.

 

The Fed is a private bank. That is why Congress passed a bill called HR 1207 to audit the Fed because it has no authorization over it. Too bad the bill got blocked by the Senate.

 

If anyone would know what your refering to they might be able to refute you. But frankly, your worse than Cloud with the facts. What you posted as facts are so far off the wall that they don't even require responses. So it shouldn't really matter what your refering to. Next you'll insist that the Fed is a private bank (owned by the Rothchilds, no doubt..)

Ruben

 

ROFL! :hail::hail:



:goofer::goofer:

 

BTW - Congress doesn't need permission to investigate ANYTHING, public o private...or to audit....geez. It can supena and audit anyone it darn well wants, as a matter of LAW...which is why it acts like a runaway grand jury so often...

Which Country do you live in? The Old Soviet Union or the US?

Ruben

 

Sorry you don't understand little man. If you're still in doubt, I suggest you do a little research. Besides talking to people who have worked for the FBI, IRS etc., I have done countless hours researching and reading to get my facts.

 

Well obviously it did need a bill to Audit the Fed or else one wouldn't have gone through congress, now would it. I live in the U.S. and fought for it too. Not sure if you can say the same for yourself, besides the point, what I'm trying to say is that the Fed plays under its own rules bc the elite of this world run it. The Fed essentially has the power to tax the whole world through its stealth tax called "INFLATION". So it will never be touched and will only face problems once the rest of the world stops accepting it.

 

No - it DOESN'T. If they wanted to audit the Fed, which BTW they actually do from time to time, they can just subpoena the records and the officials.

Ruben

 

I don't believe that you invested any serious time in this. And if you did, it didn't help you any because you didn't learn even the basics of American Government or the American Financial system. In order to understand why that would be the case, you need to do some soul searching. Needless to say, your writings would NEVER stand up to peer review.

Ruben

 

When the public starts cashing in their Notes, bonds and Bills for gold, which is EXACTLY what happened in the depression...that will snowball right into run on the entire banking systems when the gold runs out....if it is on a Gold Standard...

Try to bail out the banks then...

Historically this is EXACTLY what happens, but we can run the experiment again if you wish... who cares if the masses end up starving as a direct result of such recklessness.

Ruben

 

You do realize that bank runs are NOT rational behavior on the mob (no more so that a Gold Standard). And Jimmy Sewart won't be there to save the day.

Ruben

 

This seriously reads like the Protocols of Zion....and I'm not joking or making light of that.

Ruben

 

ummm Because the President was TWISTING their arm to take on failing institutions that they really didn't want to? You do realize, BTW, that Chase is really Chemical Bank?

Ruben

 

http://www.cointalk.com/t113402-4/#post928808

No matter how many times that is posted your going to refuse to read it? Is that correct?

Ruben

 

Some things need to get cleared up here.

The fed is a government private entity. This means that it is part of the government but operates on it's own. Every year however the Head the Fed has to present his report to congress.

the reason that the fed was setup this way was so that government could not influence it's policy making decisions. the head of the federal reserve technically works on the behalf of the president.

although he can only be fired when his term is up which is on alternate 4 years of the president. this is to ensure that there is not a corruption of the federal reserve.

as for going on the gold standard at this point in time it is not possible.

there is not enough gold out there to hold all of the US debt, nor to back it all.