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Trump thinks a return to the gold standard would be wonderful

CaptHenwayCaptHenway Posts: 32,144 ✭✭✭✭✭
in Precious Metals

http://www.coinworld.com/news/precious-metals/2017/02/trump-gold-standard-what-it-means-our-country-gold-market.html?utm_medium=Email&utm_source=Lyris&utm_campaign=PreciousMetals

Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

Comments

  • MeltdownMeltdown Posts: 8,792 ✭✭✭✭✭

    Make gold great again! :p

    Click on this link to see my ebay listings.

  • OPAOPA Posts: 17,121 ✭✭✭✭✭

    "Donald Trump thinks it would be very difficult to go back to the gold standard, but if we did it would be “wonderful.”

    In other words..."don't hold your breath waiting for it to happen."

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭

    I agree

  • derrybderryb Posts: 36,823 ✭✭✭✭✭

    "Spend no more than you collect" is much simpler than a gold standard.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    That will not happen.... economically speaking, it would be a disaster..... Unless, of course, a major world disaster occurred that drove the global economy to the bottom and a total restart was required.... Cheers, RickO

  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭

    Economically, anything can be made to "work". In any case, the success of the system depends on how the participants decide to participate within it. If the monetary authorities and spending authorities are corrupt, nothing works for very long.

    Keynesian economics has lasted much longer than I expected before it got debunked and it sorely needs to be canned forever. The difference between gold and a fiat regime' is that gold is self-regulating and fiat gives license to politicians to buy whatever the hell they want, whenever the hell they want. By and large, giving free license to politicians has never been a good thing.

    With gold, they (the political elitists) can still place impositions and restrictions in place, but at this juncture the nature of social media might make it a more difficult sales job to smear what gold represents. Being a student of precious metals has opened a wider door to understanding some of our past history, for me. The more things change, the more they remain the same.

    The thing about gold is that it's always been a universally-recognized asset, whether it has legal status or not.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭

    There are a lot of fluffers and money fiddlers that might have a problem. Low value industries to society will suffer. People that paint fingernails , PR flacks , bankers, vast numbers of middlemen , advertisers, those that drive the desire to consume worthless items endlessly , and a lot of useless eaters will feel the squeeze

  • EagleEyeEagleEye Posts: 7,677 ✭✭✭✭✭

    The Govmit is waging a war on cash. That last thing they would want is a cash-like instrument like gold bullion in the commercial channels.

    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
  • derrybderryb Posts: 36,823 ✭✭✭✭✭

    @EagleEye said:
    The Govmit is waging a war on cash. That last thing they would want is a cash-like instrument like gold bullion in the commercial channels.

    Then maybe they should try to control the price of gold. LOL.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

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