Back to the future/Gold Standard

Argentum

Argentum

Well-Known Member
Came accros a website advocating for gold standard they are hoping US will do it and here is their proposed plan on how it should be done:


American Monetary Restoration
Five Essential Steps Toward Resumption of the Gold Dollar: Dollar Convertibility to Gold and Multilateral Currency to Gold

1.America leads by announcing unilateral resumption of the gold monetary standard at a date certain, not more than four years in the future. Unilateral resumption means that the U.S. dollar will be defined by law as a certain weight unit of gold. The Treasury, the Federal Reserve, and the entire banking system will be obligated to maintain the gold value of the dollar.
2.On the date of congressionally authorized resumption -- that is, unrestricted dollar-gold convertibility* -- all Federal Reserve Bank notes and bank demand deposits will be redeemed in gold on demand at the statutory gold parity.
3.The Treasury and authorized private mints will provide for the minting and wide circulation of legal tender gold coin in appropriate denominations, free of any and all taxation.
4.Shortly after the announcement (step 1), the United States calls for an international monetary conference of interested nations to provide for the deliberate termination of the dollar-based official reserve currency system and the consolidation and refunding of foreign official dollar reserves. The international agreement to be negotiated will inaugurate the reformed international monetary systems, that is, multilateral currency convertibility to gold, without official reserve currencies.
5.The purpose of the conference would be to establish gold as the sole means by which nations would settle residual balance of payments deficits; and to designate gold, in place of reserve currencies, as the sole official monetary reserve asset. Official foreign currency reserves, to a specified extent, would be consolidated and refunded. By restoration of a multilateral international gold standard the convertibility agreement would effectively terminate floating and pegged undervalued exchange rates. The reformed international monetary system establishes stable exchange rates, and free and fair trade, based on mutual convertibility to gold of major currencies.


Dont think it will ever happen at least not from them, when i saw this on the website made me think of willy wonka choc factory, so many kids dreaming of it but will never happen to them
 
I think gold backed currencies are a shoe-in. Only a matter of time.
 
Argentum said:
Official foreign currency reserves, to a specified extent, would be consolidated and refunded.
Click to expand...

China says "Great, you can have your $3.2 trillion dollars back too then. We'll send a container ship over to pick up the metal that's now backing your dollars".
 
Well just a quick hiperinflation and then introduction of new currency backed by gold, let say Amero? We might do it in 4 years, if Bennie Boy will put his press on overdrive ;)

And china is on a lost position, for i doubt that they would catch up US and EU in matter of tons of gold stored in their sovereign vaults, thats perfect situation for silver to be remonetized.

IF in the futures there are prediction of bi-polar world wouldnt it stick to economy, currency and gold/silver competition as well?
 
It could not happen with out the creation of a new currency all together or a forced or natural rerating of gold.
 
It will never happen. There is a reason they took it off the standard years ago by the wall street thugs and gamblers - They won't allow a gold standard to ruin there profiteering!
 
There will be a Civil war in America before that happensLets hope the right side wins!
 
940palmtx said:
Redback said:
There will be a Civil war in America before that happensLets hope the right side wins!
Click to expand...
...this time round ;)
Click to expand...

No carpetbaggers this time around. :)

Redback, who are you predicting will the sides in this civil war (what an oxymoron)?
 
940palmtx said:
Redback said:
There will be a Civil war in America before that happensLets hope the right side wins!
Click to expand...
...this time round ;)
Click to expand...
actually i thought the good guys won the Civil war, by good i mean the banks at the time didnt like the president and refused him money, so he started printing his own "greenbacks" backed by nothing for alimited till the war was over. After the war they went back to gold standard, and I think he made quite a few comments about the bankers being the parasites of society that they are
 
I don't think there is any sense in an American plan over a 4 year time frame. The people are starting to wake up - its too late for the US to lead the way.

Who is going to legislate the transition? People are not going to let some suits behind closed doors decide how to implement the changes if they have any common sense left. Even within this revolutionary movement that is steadily growing there seems to only be real consensus on what is the problem. A lot of people are fed up but have very differing ideas on how to solve the situation.

Socialists/Libitarians etc with totally differing views on how the US should be but united in how it should not be.

IMO the way to re-introduce a Gold Standard would be for smaller populations to convert. e.g. New Zealand would be perfect, we could switch to gold tomorrow. We are net exporters of food, only rely on international trade for oil and entertainment in reality. I'm sure we could find a friendly oil producing country to trade oil for gold.

Put the US in an awkward position, now is a great time to provoke Obama. Whats he going to do bomb NZ? good luck selling that to his sheeple.

On their home front I have heard some states are already preparing the way for gold/silver money. I imagine initially this would be more of a barter style. However this would give the people an option to convert while leaving the corporations stranded.

The one piece of legislation I would like to see would be a bill making it illegal for corporations to own gold. Restrict ownership to real people, who are prepared to stake their reputation on their business dealings. No more hiding behind the protection of a corporation.

If you were willing to accept liability for your business dealings you may trade in gold, pay your employers in gold and have the security of sound money. Leave those who are not prepared to accept liability for their actions trading paper between themselves.
 
dccpa said:
940palmtx said:
Redback said:
There will be a Civil war in America before that happensLets hope the right side wins!
Click to expand...
...this time round ;)
Click to expand...

No carpetbaggers this time around. :)

Redback, who are you predicting will the sides in this civil war (what an oxymoron)?
Click to expand...

I was referring to the People against the Government,i wanted to use the word Revolution but i personally think that word has been hijacked and now has hysterical connotations associated with it.When we hear the word revolution in the Western media we almost link it with Anarchy.
So a Cival war between Americans in power +their non thinking serfs against the general common sense populace.

REDBACK

And for the record i'm Pro American(Not pro American policy,and share the same opinions for your country as Ron Paul) as I've mentioned before wether the World likes it or not You guys are Democracy's only chance for longevity.
I'm hoping you all get your Shiet together and prove me right.
 
I think a return to a gold standard would be a good thing to stabilise the world economy but I dont think it will happen soon in the USA, it would be too restrictive on economical expansion, it would not benefit Big Money and Wall Street and would not be adhered to for long.
Before anyone took it seriously there would have to be a massive depression lasting many years and I agree, it would have to start with smaller economies taking it up first.
I don't think even Ron Paul could introduce it to the USA as there would be too much opposition by Big Money.
If a smaller economy took it up and it ran smoothly and attracted a lot of investement to that country because of the stability, it might catch on but look at the Swiss - they devalued their currency when it started to get too strong and became a safe haven and I was thinking it would be the Swiss to first introduce a gold standard - ! :/
 
You must log in or register to reply here.
Back
Top