Home› Precious Metals

The gold-backed dollar.

MesquiteMesquite Posts: 4,075 ✭✭✭
in Precious Metals
Interesting commentary. Dylan Grice
There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
–John Adams, 1826

Comments

  • BearBear Posts: 18,953 ✭✭✭
    Wouldn't such a plan require the the various Federal Reserve Institutions first

    get their hands on the outstanding supply of gold?
    There once was a place called
    Camelotimage
  • 1Mike11Mike1 Posts: 4,416 ✭✭✭✭✭
    So when Uncle wants to spend more than it brings in we just keep adjusting the value of gold again and again? I think there is no difference in this plan and the plan that's already being done by printing massive amounts of paper money. Uncle has to get real - we can only spend so much before the bill is due to be paid.
    "May the silver waves that bear you heavenward be filled with love’s whisperings"

    "A dog breaks your heart only one time and that is when they pass on". Unknown
  • BearBear Posts: 18,953 ✭✭✭
    The value of gold in great measure is based upon the cost of production as well

    as upon the depreciation in the dollar. To set an arbitrary value on a commodity

    can only lead to the destruction, of that commodities value in

    preservation of real value.
    There once was a place called
    Camelotimage
  • MesquiteMesquite Posts: 4,075 ✭✭✭
    Bear, I believe that the Fed (NY) already owns (or at least houses) about 2/3 of the US gold supply. Only 1/3 or a bit more is kept in Ft. Knox.
    There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
    –John Adams, 1826
  • BearBear Posts: 18,953 ✭✭✭
    The trouble with that assumption, is that we have to take the Feds word for it without

    verification that we have or own any gold we may have.image
    There once was a place called
    Camelotimage
Sign In or Register to comment.