In response to:

James Bond -- 007 -- And How the Gold Standard Got Contaminated

duggy2 Wrote: Oct 10, 2012 7:46 AM
All talk of gold standard is bullflowers..a. There isn't enough gold to back the currency now in circulation..b. Gold backing is irrelevant...fiat currency works well as long as the govt issues it. ..it doesnt..a private bank counterfeits all us currency. .the federal reserve bank is not federal any more than fedex..it is privately held. .a criminal syndicate. .incorporated in delaware..the federal reserve bank association has fooled most of the people most of the time..it prints federal reserve notes and uses them to purchase american govt IOUs aka treasuries for which you and i pay endlessly with income taxbux
FletchforFreedom Wrote: Oct 10, 2012 11:05 AM
repeating nonsense here doesn't make it any less imbecilic than the first time. Only a complete fool believes that the ostensible private ownership of the Fed makes a central bank any less a government monopoly or that fiaty currency hasn't been a complete disaster in EVERY case including when issued by governments.

Join reality.
johnm h Wrote: Oct 10, 2012 8:46 AM
The initial amount of either gold or the total currency in circulation is irrelevant to all but the initial price of each currency in terms of gold. Those prices will be reached through market forces by simply announcing a date certain when a few key currencies will be convertible into gold, other currencies can choose to follow by allowing their currencies to be convertible as well. Are you joking to suggest that if governments issue the currency it will work? Presumably because governments are not political and don’t want to gather power to themselves?

In the iconic movie Goldfinger the villain, Auric Goldfinger, pursues a nefarious scheme, code-named “Operation Grand Slam,” to contaminate America’s gold horde at Fort Knox, thereby leveraging the value of his own, uncontaminated, holdings.

Bond: Yes, well, I’ve worked out a few statistics of my own. 15 billion dollars in gold bullion weighs 10,500 tons. Sixty men would take twelve days to load it onto 200 trucks. Now, at the most, you’re going to have two hours before the Army, Navy, Air Force, and Marines move in and make you put it back.
Goldfinger: Who mentioned...