Comments on: A Modern Gold Standard?

By: Mark

Mark — Mon, 15 Sep 2008 12:24:43 +0000

Thank you for your comments. I can understand and picture how strong and sought after a gold backed national currency would be in the global marketplace…in a failing currency system it sure would be advisable to be moving in that direction, at least partially pegging the dollar to some gold again.

There has been a great book written about just such events as we are discussing, VeraVerba has “A
Lodging of Wayfaring Men” by Paul Rosenberg

By: Salman

Salman — Mon, 15 Sep 2008 05:36:11 +0000

And believe me, it will be an immense service to the whole of mankind! Salmans last blog post..How should Muslims respond to this ever-increasing oppression?

By: Salman

Salman — Mon, 15 Sep 2008 05:35:34 +0000

If somehow a dedicated, concerned group of men could establish a micro micro society and implement the Real Money in it, the results and blessings of returning to the True System would be so immense that it would entice the whole world to jump into it and abandon today's fraudulent economic order. PS: The beasts will come after us before we could publicize it, so it had to be done in secrecy; whenever we intend to do it. Salmans last blog post..How should Muslims respond to this ever-increasing oppression?

By: Salman

Salman — Mon, 15 Sep 2008 05:32:30 +0000

We cannot find a sustainable solution unless we take the religious/spiritual aspect into account. The principal is: “Since God is the Creator of everything”, this implies that He is also the creator of Wealth. Its only because we have ripped God off this function of Wealth creation and put it in some dirty hands (Central Banks and the like), the world is paying a heavy price for it. Mankind never faced so unprecedented a problem of Economic Slavery as we have after this new invention of “paper money”.

By: steve birkholz

steve birkholz — Fri, 12 Sep 2008 23:46:30 +0000

I doubt whether decree by lawmakers can fix the value of anything. Market as expressed by supply and demand determines that. If 500 dollars is less than an individual will part with his gold shortages will occur. If the asian nations see gold at 500 dollars as a deal they will quickly purchase our gold supplies creating a scarcity. Then, there will exist a black market for gold at its true price. The goofy politicians who dont understand ecoonomics will leave their offices thinking they have somehow acccomplished something.

By: Mark

Mark — Fri, 12 Sep 2008 13:53:47 +0000

It’s strange isn’t it? I keep reading it over and over again trying to make sense of it. Glad I’m not alone. It’s good to see that discussion, I”m just not sure how it could work.
Mark

By: Bill St. Clair

Bill St. Clair — Fri, 12 Sep 2008 11:58:55 +0000

Maybe I’m dumb, but I don’t see how this could possibly work. Let’s see, I’m going to declare that a 4.25×5.5 piece of paper with my signature on it is worth an ounce of silver. Now, I’ll go to work buying reams of copy paper, cutting them into fourths, and signing them. Do you suppose I’ll be able to affect the price of silver, even if I make a million of them? No, my paper will be as worthless as ever, unless I am willing to trade silver for it, and back up that promise with real metal.

By: Mark

Mark — Fri, 12 Sep 2008 03:07:35 +0000

James Turk: “The Treasury reports the US Gold Reserves monthly at this link: http://fms.treas.gov/gold/index.html These reserves include “gold held by U.S. Mint facilities”, which the report labels as “working stock” and describes it as “the portion of the U.S. government-owned Gold Bullion Reserve that the U.S. Mint uses as the raw material for minting congressionally authorized coins.” The August 29, 2008 report says the quantity of working stock is 2,783,218.656 ounces. Yet we are told by the Mint that none of that can be minted into gold eagles? Would Fat Tony say we are a “sucker” to believe that the Mint cannot produce gold eagles to meet demand?

Here’s something even more bizarre. One would assume that the size of the Mint’s working stock varies from month to month, just like inventory varies from month to month in any business as a result of changes in production and the ebbs and flows in sales. And indeed, the Mint’s inventory did vary monthly, up until March 2006. But according to the Treasury’s reports, the Mint’s working stock has remained exactly 2,783,218.656 ounces since April 2006. How is it possible that the Mint’s working stock has remained unchanged for 28 months? Have you ever seen any business anywhere in the world for which its working stock was unchanged for a day, let alone 28 months?…It’s really very simple. Fiat currency is a scheme perpetrated by central banks. To make their scheme work, they intervene in the gold market to manipulate the gold price. By doing so they try to make their fiat currency look better.

Thus, it’s not gold that is the barbarous relic. The barbarous relic is central banking.”