BrotherJohnF discusses this week’s impressive rallies in gold and silver, and states silver needs to clear $32.50 to confirm a new bull run is in progress in his latest Silver Update:
Gold Standard
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Silver Update: Gold Standard
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Government, US or EU, makes no difference…they ALL want to manipulate our money to take financial advantage over our lives.
Money is the Root of Government Evil.
We need a Free Market money… standard of weight only, it makes no difference who Mints the coins.
Private is preferred, but Public is OK as long as its not “PEGGED” to some arbitrary fiat value.
Buy a car for 10 oz gold or a candel for 1 gr silver
both are material goods expressed in a common material standard
HR 1098 FTW!
There’s no way of going back to the gold standard cause by fixing the amount of dollars to gold, gold’s price will become 6000$-7000$ per ounce because there are too much dollar supply. I think that gold’s price will go even higher because there are more people than before and because of that they’ll create more demand.
YES WE CAN… return to a Gold Standard.
BUT
NO we don’t want to “fix” the value of a Dollar….
A Bi-Metal standard, gold and silver would float based on market forces determing WEIGHT of Exchange for other commodities.
One year may produce a bumper corn crop (surplus) and a bushel would sell for 1 oz Silver
The next year may be a drought and a meager crop (scarcity) and a bushel sells for 2 oz Silver
Bottom line, a FREE MARKET always finds its own exchange rate based on supply/demand…
Not what Government “FIXES”
With the glut of currency, both domestic and foreign, the price of gold would be more like $40,000 to $60,000 an oz. Just in America in 1980 we had a total printed currency in the USA of 1.8 trillion dollars. In 2011 that number had grown to 18 trillion dollars, plus in 1980 neither China or India were remotely influencing the PM price. With these major changes it would seem that going to a gold standard would at least be highly difficult, and at worst, near impossible because the central banks are not about to take a beating over remonetizing gold and silver. It still could be done, but at great duress to the public I fear.
I for one don’t believe in the “hard money thesis”. And exactly because then it’s pegged. It should be free floating against fiat moneys.
Nothing wrong with fiat moneys as long as they dont interfere with PMs (and other assets perhaps). Pegging == manipulation.
They might do it with gold, not with silver.
“Hard Money” is not Synonymous with “pegged” values.
Once all countries return to a Gold Standard, then how they define their unique currency doesn’t really matter.
A British pound sterling was “defined” as a amount of gold, and so was the Dbl America Eagle etc.
Therefore the exchange rate was FIXED based upon their respective weights in gold or silver.
Thus the “currency exchange rate” business goes away… there is NO speculation of future value
Weight is Weight.
Ron Paul is correct about “competing currencies”
The Banksters have have grossly abused the “good faith and credit of the US Government”
They will never redeem their notes for any value….
Our Government has BETRAYED us.
Our Politicians have sold the American dream to the Banksters back in 1913.
WE the People have to refuse to us the FIAT NOTES…
Divest ourselves of the Currency of Tyranny
I want to be able to buy things with gold and silver coins. That is what the constitution calls for, and in this instance the founders were dead on. We should have flat taxes, and wherever paper and plastic is accepted, gold and silver coinage with a u.s. mint mark must be accepted as well. That’s keepin’ it simple, and it would work. Not only would it work, but when paper’s intrinsic value(0.0) is discovered, we will already be working with an alternative to our p.o.s. dollar. The exchange rate in dollars would float, and the retailer would quote you the current spot price of the metal.
people always say “the u.s. can’t default on it’s debt.” yes we can! And we should. We could reaffirm the strength of our currency by being the first country to return to a gold standard.
@savessilver The politicians rarely mention this, and I find that very telling in itself, but there is a way to end the Federal Reserve Bank and pay back our phony fiat debt to those banksters. Congress has the power to coin money. Law regulates denominational value of these monetary coins(gold, silver, nickel, copper). All except platinum. Congress has the constitutional authority to mint a platinum coin, stamp $16 Trillion Dollars on it, hand it to Bernanke and now we are even. U.S. Treasury then resumes printing of United States Notes with no national debt.
The U.S. gold reserve is owned by the U.S. Treasury not the Fed. Back the United States Note with gold. Game, set, match. Sound money is restored.
Pres. Kennedy started the process in 1963. I have one of his $5.00 U.S. Notes. But, we know what happened to him.