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Thread: If The Reset is a Gold Standard

  1. #21

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    Quote Originally Posted by SilverPalm View Post
    Yea, I saw that story. It doesn't really make sense to me. If there is reduced coin flow into the banks, there should be reduced coin flow out of the banks to match. Modern circulation coins don't really wear out quickly, so a mint slowdown should not cause a gigantic difference. The story doesn't pass the sniff test in my opinion.
    it is highly possible that banks are secretly pulling coinage out of circulation.

  2. #22

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    Quote Originally Posted by maxwellsilverhammer View Post
    well the zinc cent does in fact wear out extremely rapidly. that was a bad choice from the mint on that one.
    The zinc cents corrode easily too.

  3. #23

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    Quote Originally Posted by GOLDnSILVERchips View Post
    Coins are like every-other-single-thing during this “Covid” time.
    Things are simply not circulating and supply chains are slowed to frozen.
    I’ve never thought of them as yet coins are part of the money velocity also sure … velocity’s an indication of economic activity and strength, the higher the better.
    Coins right now are showing / proving / another indicator of a stuck in the mud economy.

    As far as the supply chains .. They’re in the crapper also … shut this, shut that, suppliers, wholesalers, etc etc … Throw in a little trade war spats … The I can buy 600 air conditioners in 4 block radius days have paused (?? Or will they keep us rationed like a good foot on your throat Gov does)… Shelves are not stocked like they’d been previous in any (type) store and I’m in the robust economic and shipping hub of the NE to boot …… The supply-chains simply hampered right now and in turn economic activity.
    Plenty of Chinese made goods in Walmart & harbor Freight here. Plenty of Air Conditioners too. Paper products are a bit scant. I haven't seen rubbing alcohol in months.

  4. #24

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    Quote Originally Posted by GOLDnSILVERchips View Post

    As far as the supply chains .. They’re in the crapper also … shut this, shut that, suppliers, wholesalers, etc etc … Throw in a little trade war spats … The I can buy 600 air conditioners in 4 block radius days have paused (?? Or will they keep us rationed like a good foot on your throat Gov does)… Shelves are not stocked like they’d been previous in any (type) store and I’m in the robust economic and shipping hub of the NE to boot …… The supply-chains simply hampered right now and in turn economic activity.
    Here we do not have the slightest problem with the supply-chain, even if we certainly had one of the most stringent lockdowns of the world. I guess the chains over there are just trying to milk the customer...

    Golditiki2+++

  5. #25
    Join Date
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    Quote Originally Posted by SilverPalm View Post
    Plenty of Chinese made goods in Walmart & harbor Freight here. Plenty of Air Conditioners too. Paper products are a bit scant. I haven't seen rubbing alcohol in months.
    I've noticed the lack of overstock (What Americans do, consume in spades) comparatively speaking and have also heard it from my better half.
    Even online things are scarce ... Desks, work stations, kitchen "stuffs", seasonal outdoor / garden, the endless other stuff woman order online ...........
    Just an observation that I believed may be tied to overall supply chains ie; many producers / suppliers being shutdown for periods yet it could simply be Americans doing what they do best BUY stuff particularly with nothing else much better to do with the Corona Devil still threatening.

  6. #26

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    The petrodollar allowed the U.S. to come off the gold standard. Although what necessitated the need to do so was colossal spending on the Korean and then the Vietnam war.
    A gold standard works in times of stability and relative peace. The opposite is true in times of strife and upheaval.

    The petrodollar system is broken since the U.S. has a substantial amount of dollars overseas from which the dollar holders could purchase all the available oil in the world.
    If there is to be a gold standard then the petrodollar could no longer support the dollar.

  7. #27

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    Quote Originally Posted by hume1 View Post
    ...
    A gold standard works in times of stability and relative peace. The opposite is true in times of strife and upheaval.....
    Why do you say that a gold standard does not work in times of strife?

  8. #28

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    According to this piece, a central banker believes that we are heading towards a future with multiple reserve currencies, where gold is also at play.

    https://www.zerohedge.com/commoditie...orporates-gold

    I question if this is a prediction or simply an observation. The dollar index is already down in the 93 range. The Basil III banking standards have already declared gold to be a tier 1 asset, equivalent to sovereign debt. That leaves me to ask myself, are we already there? Will the future see gold taking a more prominent role, has it has in the past? Will the dollar/euro/yen/etc. remain in existence for the rest of my lifetime? If so, at what value?

    The Fed claims to target 2% inflation. Gold is mined at a yearly production rate of roughly 1.8% of existing above ground quantity. That would give you nearly 2% inflation right there if gold were once again the standard.

    …but will those who print the fiat give up their grip on the unlimited use of the press?

  9. #29
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    Quote Originally Posted by SilverPalm View Post
    According to this piece, a central banker believes that we are heading towards a future with multiple reserve currencies, where gold is also at play.

    https://www.zerohedge.com/commoditie...orporates-gold

    I question if this is a prediction or simply an observation. The dollar index is already down in the 93 range. The Basil III banking standards have already declared gold to be a tier 1 asset, equivalent to sovereign debt. That leaves me to ask myself, are we already there? Will the future see gold taking a more prominent role, has it has in the past? Will the dollar/euro/yen/etc. remain in existence for the rest of my lifetime? If so, at what value?

    The Fed claims to target 2% inflation. Gold is mined at a yearly production rate of roughly 1.8% of existing above ground quantity. That would give you nearly 2% inflation right there if gold were once again the standard.

    …but will those who print the fiat give up their grip on the unlimited use of the press?
    "Incorporates Gold" is the key from that article........
    I've always thought the day will come that yes these Fiat Currencies (Debt Notes) of course will once again need backing in order to maintain confidence.
    Gold will be a part of that backing amongst a basket of many other commodities and of actual value holdings ...
    Exactly why Gold is the Ultimate Collateral .. It collateralizes Debt (Currency) .....
    Collateral, get yourself some ... While you still can.

  10. #30

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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?
    one really owns that what others do not know one owns.

    Golditiki2+++

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