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Thread: If The Reset is a Gold Standard

  1. #1

    Default If The Reset is a Gold Standard

    What do you think will happen to the other PM's?

  2. #2

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    I have always wondered how a gold standard would work. Where does the growth come from if the metal is limited? In our system now currency is created which enables the growth but with a huge downside of perpetual inflation. If we reset I would think we keep our current system but with some tweaks. We lose a ton of wealth( on paper) but we start over.

  3. #3

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    Quote Originally Posted by Locke888 View Post
    I have always wondered how a gold standard would work.
    If it is like the old system gold would get fixed to whatever the new unit is and track its purchase power. I'm not sure how such a thing could be implemented but that is just gold. That's why i ask about the other PM's. We could end up with a different form of the old system. Just food for thought.

  4. #4

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    Quote Originally Posted by Locke888 View Post
    I have always wondered how a gold standard would work. Where does the growth come from if the metal is limited? In our system now currency is created which enables the growth but with a huge downside of perpetual inflation. If we reset I would think we keep our current system but with some tweaks. We lose a ton of wealth( on paper) but we start over.
    What is wealth?

    What is money?

    Does someone own a property if they owe on it? Does the bank? In a reset, do the people who saved get all the property? Or do all the banks own everything? Do the people with a mortgage keep their property?

    Is wealth a measure of work / ideas / smarts or something esle?

  5. #5

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    Our industrialized nation was born on a gold standard. And we did it in just less than 200 years and was the leader of the whole world.

    I muse the only reason we now have fiat currency is because of the safety nets first and then the ever increasing beaucracies and their long term liabilities. A nation has to have fiat to make such huge beaucracies! And armies of lawyers sueing for more and more mandated liabilities!

    You bugs know this, but I put it out here for newbies and lurkers.

    If we did go back to a real gold standard and silver monies, we would have to get government back to the size it was before 1913. And tar n feather millions of lawyers and bureaucrats out of town.
    Last edited by Westerner; 04-10-2020 at 11:39 AM.
    Small business is the incubator of employment. As it declines, so too do opportunities for first jobs, second chances and economic independence.

  6. #6

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    Quote Originally Posted by Atlas Shrugged View Post
    What is wealth?

    What is money?

    Does someone own a property if they owe on it? Does the bank? In a reset, do the people who saved get all the property? Or do all the banks own everything? Do the people with a mortgage keep their property?

    Is wealth a measure of work / ideas / smarts or something esle?
    All great questions and I wish I knew the answers. One thing for sure is if I own my house outright(5 more years) and we reset and they tell me I owe the bank I will be grabbing my gun and going to DC.

  7. #7

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    Gold didn't work, it did not circulate well, and was often hoarded, still is. Silver worked pretty well for a long time, but that was also very tumultuous, read the book "silver" to see how well that worked for us. Au/Ag became commodity instead.

  8. #8

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    Quote Originally Posted by Locke888 View Post
    All great questions and I wish I knew the answers. One thing for sure is if I own my house outright(5 more years) and we reset and they tell me I owe the bank I will be grabbing my gun and going to DC.
    I know if you don't pay those property taxes on your "owned" house, soon it will be auctioned off by the sheriff on the courthouse steps.....

    So You don't really own your house! Your house could just be a true Liability! ( if it pays you to live there that is how the liability is diminished)
    Thomas Jefferson is credited with writing, “When injustice becomes law, resistance becomes duty.” The seceding states in the Civil War period issued a similar declaration using the word “tyranny” as opposed to “injustice.”

  9. #9
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    Gold was, (underlyingly) is and will-be the only collateral for currency ...........
    Why you've always had to laugh at the Gold Bashers.
    I've got and continue to get my collateral + a constant cat that ate the canary grin no matter what happens

  10. #10

    Default

    Quote Originally Posted by Locke888 View Post
    I have always wondered how a gold standard would work. Where does the growth come from if the metal is limited? In our system now currency is created which enables the growth but with a huge downside of perpetual inflation. If we reset I would think we keep our current system but with some tweaks. We lose a ton of wealth( on paper) but we start over.
    there is a misunderstanding about the amount of moneyunits and the value of money units.

    When there is a goldstandard = restricted increase of moneyunits exists, then prosperity means that the purchasingvalue of the moneyunit increases, = your purchansing power increases holding a same amount of money units. It is a silly idea one gets richer because he obtains more money units when the purchasing value of the money unit dwindles towards zero.

    People just believe old anti-gold lullabees sung by the wealthrobbers.

    I am sure that we would have had a far better and serious economy if we had a gold-standard. Because it would force people to use their intelligence to produce better instead of cheating better.

    Golditiki2+++

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