I would like a good explanation of how we could return to the gold standard for our dollars.
It would seem to me that, since the "big money boys" now hold most of our gold, they would be the big profiteers in a return to the gold standard.
It would only be beneficial to Americans if the gold were returned to the national treasury at the original value. Granted, $35 per ounce could be updated to current inflation standards setting a value of $350 per ounce, but with gold currently selling at three times that amount, it might be difficult to get it back.
Ideas please?
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Hey is me neo NeoDaCon vote for the top teer
i can help you paulies about gold and stuff like that go to the linc below and read it
http://www.breakthematrix.com/node/4858
your best friend
me
NeoDaCon
reember the alaomo
You come on right at 35 minutes. Great speech/presentation by the way. I loved your idea of getting out of the IMF and getting all contributions repaid.
I had expected to give the presentation off of a PowerPoint, but there were technical difficulties so I ended up having nothing printed and gave it extemporaneously!
I spoke at the Mises Institute's Austrian Scholars Conference this year explaining how to transition to sound money. The video of the panel is available here:
http://www.ustream.tv/recorded/AfycBeR,mnEYaL2pa,BtD5.VBYK3cgTY
I think I come on at about the 30 minute mark.
The Money Masters is riddled with inaccuracies, taking things out of context, and the goals are incompatible with the sound money ideas of Dr. Paul and us.
I for one love the gold and silver idea. I save silver, I would gold but I can not afford it. But at least once a month I buy a silver coin and put it in my safe.
Some of Ron Paul's favorite economists have written on this issue.
The conclusion of Murray Rothbard's "Case for a 100% Gold Dollar" includes a discussion of "how we'll get there." Note that this was written before the advent of digital gold, which makes the transition easier:
http://mises.org/books/goldstandard.pdf
Here is Rothbard's article "Taking Money Back" from 1995: http://mises.org/rothbard/moneyback.asp
The last chapter of Gary North's "Honest Money" talks about transition; it was written in the 1980s: http://www.freebooks.com/
Chapter 6 of RP's own "The Case for Gold" is about the transition from fiat currency to a gold standard:
http://mises.org/books/caseforgold.pdf
At the Austrian Scholars Conference in March there was an entire panel on the transition to gold. Unfortunately, I don't think any of the papers have been published.
You make an excellent point. As it is now, there isn't any "standard", which is why the dollar has lost 96% of its value since 1913. At this time, there are serious problems using only gold, but something of universal value needs to be used. Perhaps silver would work better at this time. The use of multiple competing currencies, along with goods for goods bartering, would be the ideal in a completely free society.
I like the way you guys think. My dad has panned for gold for years; he brought me the latest issue of his gold panning magazine, which he said contained an excellent article regarding the Federal Reserve and the monetary system of America. Guess who the author was? RON PAUL!
Anyhow, there is still gold in them there hills, if anybody has the will to go get it. It's back-breaking work. If you read these prospector magazines, you will find all kinds of tools and equipment that can make it easier and more lucrative.
As for the barter system, it has worked for centuries, if not longer. Go for it. My dad got haircuts from Rick the Barber in exchange for Volkswagon tune-ups for years. If you have a skill, or something growing on your land, it's a little easier to barter. If you have nothing, and have no skills, well, it isn't going to work that well.
Or, you can start investing in gold on a small scale, by using a portion of your paycheck each month. Gold comes in increments of 1/10th of an ounce, 1/4, 1/2 and 1 ounce. If you can buy $100 a month worth of gold, that's better than nothing. Just my thoughts. Peace out.
While gold and silver hold their value better than fiat currencies, the barter system is also a great competing currency--just a thought.
Free market money means just that-- free market money. As many different forms of currency; credit; deposit; and payment as the market will support-- which of course is as broad as the human imagination can devise. Money is a commodity; there is nothing special about it. Our problem with money (as with so many things) is that we have allowed government and "wise leaders" to control it through a mandatory monopoly system. The money monopoly must be broken, just as the mainstream media monopoly must be broken. There can be no freedom until we break the matrix. R
I like the idea of competing currencies, exactly like NORFED was doing before the state sponsored grand larceny incident. This issue is of great interest to me, however I don't see a complete solution to the monetary issue. Unintended consequences have to be accounted for like the restriction of economic growth as a result of a fixed money supply with a bimetallic standard (gold and silver), but I don't see an issue as long as some asset is backing the currency, be it metals or oil, land, whatever. But there is an issue with fiat currency backed with nothing but future tax dollars paid by citizens of the issuing government (or corporation), it has without fail in all of history always turned to trash.
this is a good video of Robert Kiyosaki, author of, Rich Dad Poor Dad giving his thoughts on gold and silver. Mentions Ron Paul, I was somewhat surprised when I saw it.
http://www.youtube.com/watch?v=FOKn7tiUMyc
You need to watch 'The Money Masters' : http://www.google.com/url?sa=t&ct=res&cd=1&url=http%3A%2F%2Fvideo.google...
for a full understanding of this subject.
Then Google the 'Totnes Pound' and the 'Guernsey Pound' to find out how this works today.
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http://www.irdial.com/blogdial
From what I understand, herbertebrownii, we would have a dual currency system for a time with people being allowed to opt into an e-gold system for direct deposits of their payroll and to make electronic payments/transfers and so forth while actual coinage and paper gold "certificates" would be naturally phased in for those people who had opted into the e-gold system first. I wouldn't look for the banks to have a lot of actual gold coins available on demand. Businesses would be compelled to accept the new currency. Other than that, I'm not sure what you're asking. An e-gold dollar would only be worth a dollars worth of real gold...same as today. The coins and certificates would represent variable units (dictated by the market) of gold.
Now the question of whether or not we actually have the reserves to back it up is, as my dear old grandpa use to say, "a whole nuther can-o-worms"
I hope I got this somewhere close to the ballpark of correct...Rick?
God bless,
Nick
Quotable quote:
"Sell your cleverness and purchase bewilderment"~?
Free market money. R