All talk of gold standard is bullflowers..
a. There isn't enough gold to back the currency now in circulation..we sold it all at 35 dollars an ounce until nixie took us off the gold standard just as we ran out of it
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
C, very few realize
A month ago, I presented the case for why Fed Chairman Bernanke would have strong motivation to launch another round of quantitative easing (QE) before the election. In short, it would save him his job. Now, I didn't predict with certainty that he would do so - only the few men at the FOMC knew that for sure - but it seemed likely. Shortly thereafter, Bernanke not only announced more stimulus, but promised to keep it flowing to the tune of an additional $40 billion a month until conditions improve. As I had written, this is essentially the election...
-- There isn't enough gold to back the currency now in circulation --
What you're really saying is that there are too many dollars to back up with gold on a ratio that can keep the pretense of a strong dollar. If one let the to the market the job to place the correct price of an ounce of gold compared to all the dollars in existence, the exchange would be closer to $10,000 per ounce of gold instead of the current $1,750.00 per ounce.
The idea that you can keep the dollar strong is foolish. The idea that there's not enough gold to keep the pretense of a strong dollar is pure sophystry.
Government debt should be an oxymoron...it is moronic for governments to borrow. They should simply print money free from debt that the taxpayers otherwise have to bear...bennie bankie and timmie treasurie cant belive the public puts up with their ponzi ripoff...oh, right. ..madoff is now said to have started in the 70's...i guess the simpler the scam. ......the longer it can last......wow...
Private bank cartel prints money. ..debt govt prints money. ...no debt
Die falscher lends. ...government spends
Makes irs extract. ...to pay the loanshark back
a. The amount of gold available is IRRELEVANT - all that is required is that currency be redeemable. The gov't still has gold and can obtain more to back currency (or private firms can issue currency that is NOT counterfeit)
b. fiat currency has been an unmitigated disaster - it is the SOLE source of inflation. The ostensible private ownership of the Fed is designed to convince fools to overlook the fact that the Fed is a GOVERNMENT monopoly. Central bank fiat money has been just as disastrous where no such ostensible private ownership exists (which is why "c" is astonishingly NON-factual)
Come to the real world!