Return to Gold Standard and price per ounce

I appreciate the attempt to clarify this but is is an INDEPENDENT PUBLIC ENTITY and there is nothing private about it. Nobody affiliated with the Fed can make a profit on it. BTW - (sigh) - this is also true about the Mint which also is constantly confusing people. To make it worse, the stupid Mint is required to report "Profits" which only goes to show that our Lawmakers are often no better at understanding government than "Gold Standard" proponents on the list.

Ruben

Ruben

 

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Honestly, it doesnt really matter if you believe me or not. The facts are what they are. The fact that you misinterpret them or tell flat out lies are your personal problem. I've got nothing to prove to you, nor do I have any interest in trying to prove what I'm saying is right. I just know I fought for your right to ramble on. I don't know if you can say the same for yourself. Good Day

 

Yeah the facts are WHAT they are. One fact is that my name is Ruben Safir.

And I don't snowball anyone about the facts.

Ruben

 

Just another Sheep lost in the lies.

 

Yeah and the federal Reserve Bank is a private organization designed to keep the elite in power.

Now normally, if I was Doug, that statement would be enough to get an infraction. But in this case, I'm not making fun of you. YOU ACTUALLY SAID THAT.


and that is scary.

Ruben

 

It is scary, that scary truth. You should do a little research.

 

Sorry about that. There are enough real problems in the world without chasing paranoid delusions that the Fed is taking over the world and that only a Gold Standard can save us.

Ruben

 

Hey man, give it up. Weak minds such as his have to twist the truth to an extent that makes excuses for all of their failures. He throws out the facts that you propose to him for his analysis as unsupported or, perhaps, fraudulent, and interjects what is convenient for him.

 

I'll cheers to that, however, nobody said anything about only a gold standard can save us. It would make things more stable if it were never tampered with, but it would hurt us more than help us if it were implemented today.

 

And you also believe the Fed is a private organization?

Ruben

 

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i would suggest doing the same. why you might cry for the gold standard at this point it is not possible. the US hold over 13 trillion dollars in debt.​

at 1,215 an ounce the US would have to buy. buy over 10 billion ounzes of gold. there is only about 10 billion ounzes of gold mined to day (this is an approximation).​

we do not have that kind of money nor is there enough gold to even come close.​

sorry if the math is a little off it has been a long day and it keeps on going.

 

yeah - except that it helped cause the Depression and if implemented in and around 1970 we would have had another life and death depression...

Ruben

 

You are so right

 

How can one expect them to do math if they can't figure out if the Federal Reserve is a private enterprise or a government organization.

I'd hate to think what these guys would think of the MTA or the Port Authority of NY-NJ

Ruben

 

Sometimes USENET has its advantages...

Ruben

 

By the way, it's perfectly viable to consider reinstating the gold standard.

Step 1. Default on all debt.
Step 2. Abolish the Fed.
Step 3. Force an exchange of the USD to some new form of national currency. Call it the NUSD (New USD) or something, connecting the transfer rate to the amount of available gold in US reserves.
Step 4. Back the NUSD at, say, $100/oz. Do NOT issue any more currency than our reserves can sustain.
Step 5. Slash the budgets. No more welfare state, no more super-large military. Slash spending on everything and put the power back where it belongs, in the hands of the states.
Step 6. Make gold available to any individual willing to tender a minimum, let's say $1k, at any US mint location.

The major problem is step one. Defaulting on our debt would be catastrophic to so many different countries, people, everything. Instantaneously backing our new currency with gold after defaulting on the national debt would restabilize it, but not enough, imho.

Even if you manage to get past that, you run into a slew of problems elsewhere... it certainly couldn't be done overnight, no matter how carefully it was planned. Minimum time would take 3-5 days, and our entire economy would practically be shut down for those 3-5 days.

Then, down the road, corrupt politicians will undoubtedly lead this country down the same road we've been down the past century and take us to the brink of bankruptcy again... it's a futile experiment.

 

Yeah - that will cause mass economic displacement. But that doesn't seem to matter to you.

Ruben

 

I second that. You must be a Ron Paul supporter too? If not, that's cool, you were just reading his mind then.
This is off the topic, but what do you think of fractional silver? I found a website that sells 1/10, 1/4, and 1/2 oz silver rounds from the Golden State Mint. Do you think that silver will go so high that smaller silver coins will trade or sell easily?

 

Actually, giving this a moments thought, It just occurred to me that you just suggested destroying 17 TRILLION dollars of world wide wealth...in order to do what? To put us on the "Gold Standard"?

Hmmm, well I'll be darn.

Normal I'd amuse that someone would propose something like this because they suffer from some variation of what Jerome from Manhattan suffers.

I think it is deeper than that though. Are you really Adrian Wok?

Ruben

 

Did you not see that I noted the impact of what would happen? I'm aware that defaulting on our massive debt will pretty much destroy the world economy, but it's time we stopped worrying about the world, and started worrying about ourselves. Our country is crumbling from within, strained by excessive spending, especially on the military, lack of good debt management, and horrible, horrible leadership.

It's gonna hurt, but there really isn't much of any other choice if we want to save ourselves from a fate that creeps closer to inevitability every day. It's pretty clear at this point that the US will never have a real, production-driven economy again under the FIAT system, unless some future major power makes the same mistakes we did, and we become the ones being paid pennies on the dollar to make their cheap goods. Highly unlikely, to say the least... unless hyper-inflation sets in.