Trump proposes returning to the gold standard.

a reply to: olaru12

Let's face it current political motivations and/or socioeconomic circumstance notwithstanding we really should all be investing heavily in Petroleum jelly because without the safeties of a silver spoon lodged where the Sun don't shine 99% of our respective population is being bent over the proverbial barrel and getting the Deliverance treatment.

And it's not in the post, it's on the doorstep.

a reply to: nwtrucker


Well what are they going to do when the Yuan is gold backed, Russia will get paid for oil and gas in Yuan and then exchange it for gold at the Shanghei gold exchange.China will back trade with a gold backed rouble. The light crude that America gets out of the ground, has to be mixed with the thicker Arabian crude. Since they are dealing in gold backed curencies whats America going to trade with?

a reply to: nwtrucker

Well, where ever it is, apparently, it's not exactly kicking about Fort Knox in the quantities of days gone by.

I blame the Anunnaki.

a reply to: Krazysh0t

I think parts of the US, just like my own alleged first world nation, do indeed resemble a third world country.

Poverty, unfortunately, transcends borders.

originally posted by: andy06shake
a reply to: Krazysh0t

I think parts of the US, just like my own alleged first world nation, do indeed resemble a third world country.

Poverty, unfortunately, transcends borders.

That is a nuanced conversation for a completely different thread.

a reply to: AugustusMasonicus

Unless people rarely traded in the physical anymore with the majority of bullion trading being done through paper certificates. When they can't complete a trade by providing the actual metal that the trade is based on, they simply say delivery is not possible and pay out the claim in fiat. Convenient no? Then with high frequency trading, the sky is the limit. Haven't there be cases involving large banks manipulating the price of silver within the last 2 years? Are you suggesting that couldn't and hasn't happened to other precious metals?

a reply to: WarPig1939

Maybe he will push for digital currencies?

originally posted by: anonentity
a reply to: nwtrucker


Well what are they going to do when the Yuan is gold backed, Russia will get paid for oil and gas in Yuan and then exchange it for gold at the Shanghei gold exchange.China will back trade with a gold backed rouble. The light crude that America gets out of the ground, has to be mixed with the thicker Arabian crude. Since they are dealing in gold backed curencies whats America going to trade with?

I live just south of Vancouver, B.C. in Washington St..

I haven't followed it too closely but Vancouver is the most expensive city in N.A. to live. The reason is housing prices are out the roof. The reason for that Is Chinese buyers. Private Chinese citizens. Not the gov't. Over 5% of the homes in Vancouver are vacant. People, working couples, are literally living in the street with these homes vacant.

That's Canada's problem, though.

The reason i point this out is those vacancies are 'vacant' is the Chinese owners couldn't care less. They just wanted out of the Chinese 'wealth', the Yuan. Basically, money laundering. Bailing from the yuan. Exactly what the Chinese gov't has been doing for a while now. Money laundering out of their own over-leveraged economy.

'Could' they go on the gold standard? I highly doubt it. The gold purchases they've made is no more than another form of money laundering that the Chinese power brokers can use for themselves if it all goes down. Getting out of the Yuan has been their purpose, not a gold standard.

a reply to: Krazysh0t

"That is a nuanced conversation for a completely different thread."

True.

None the less if the cap fits, and it looks like a duck and quacks like one...........Well it's probably going to go rather well with Orange sauce.

Wonder if we will ever link our respective Foodbanks to the gold standard?

originally posted by: olaru12

Trump proposes returning to the gold standard.

Never happen and Trump knows it. Typical transparent pandering to the far right isolationist. Trump proposes BS all the time that will never happen but it keeps his base happy, pissing on their leg and telling them it's raining.


It will be the Chinese that adopt the gold standard. Hide and watch....

I'm impressed how you always take the 'high road' on these things. Shows your objectivity....

Could be rhetoric on Trump's part as a negotiation point by shaking up TPTB. He could be after something else entirely.

Just speculation though.

originally posted by: dragonridr
Trump is just throwing it out there he knows the US can't go on to gold standard. He said this during his presidential campaign.

“In some ways, I like the gold standard and there is something very nice about it but you have to go back at the right time… We used to have a very solid country because it was based on a gold standard for it.

We do not have that anymore. There is something very nice about the concept of that. It would be very hard to do at this point and one of the problems is we do not have the gold. Other places have the gold.“

That was during the campaign and likely how he saw it. I 'suspect' he has far more information these days and there's been a huge increase in gold production as the price went up. It is possible there is more gold in the U.S. than he previously thought. Just a guess, though.

originally posted by: nwtrucker
a reply to: enlightenedservant

So based on that, you prefer the system stay as it is?

Compared to the gold standard? Hell yeah! Like I already pointed out, it became illegal for US citizens to possess and trade gold after 1934. Only the international govts, international organizations like sovereign funds, and large domestic institutional investors like Wall Street firms and bankers could even convert gold to USD and vice versa.

And did you miss the part in my link where the federal govt seized the titles of gold and gold certificates and transferred them all to the Treasury? And also the part where global powerbrokers had placed a $20.67 per ounce price cap on gold for more than a century? And then the part where Congress set the price at a measly $35 then our central bankers forced our allies to give up their gold in exchange for our USDs?

When you hear about countries like Hungary, Germany, and Austria trying to repatriate their gold from the US and London's central banks, why do you think our central banks have their gold in the first place? That's the gold standard in practice. It astounds me how people can rail against "the powers that be", globalists, central bankers, and all that stuff, then turn around and advocate for a system that benefited those groups even more than the current system does.

Any citizen who's made a penny speculating from gold prices should absolutely hate the gold standard. And at least in the current system, I can buy, sell, and hoard as much gold as I want. I can travel with it to most countries if I want to easily transfer my wealth somewhere else (like in SHTF moments), though some countries still ban individual ownership of gold just like the US did under the last 35 years or so when we had the gold standard.

What benefits would the gold standard even have for normal citizens above what we already have?

originally posted by: neo96
There is not enough gold to back the current money supply.

It will not work.

The Gold Standard is never coming back.

Someone can just make more gold when needed.

This is a pipe dream thread right?

a reply to: kelbtalfenek

there's more powerful people than you who want to keep on robbing the country and it's citizenry, as well as many other countries.

Key word "people"

Nothing lasts forever. People are flawed. Life is change at its core.

Power is an illusion.

They cant kill a president too many times without awakening the fearful, hungry mob.

They cant do many things outside of the season or allowance of the moment.

originally posted by: howtonhawky

originally posted by: neo96
There is not enough gold to back the current money supply.

It will not work.

The Gold Standard is never coming back.

Someone can just make more gold when needed.

This is a pipe dream thread right?

You mean like melting down a bar of gold, dividing it into 4 equal parts, and then using each part to completely encase a smaller bar of tungsten, thus turning one bar of gold into 4 bars of "gold"?


ETA: For those who don't know, I'm referring to incidences like this (HERE).

a reply to: tadaman

Killing the current POTUS could quite possibly be considered an act of mercy to the rest of the world.

Because the needs of that particular Muppet sure don't outweigh the needs of the many.

End of the day through it's all just window dressing for our masses.

originally posted by: Krazysh0t
a reply to: nwtrucker

1) The gold standard puts power in control of the people who own gold mines. (if you don't see the problem with this, then look at the problems we have with securing oil in the Middle East to see how problems with this can arise).
2) A gold standard can only cover a monetary supply as long as the monetary supply is less than the amount of gold in the reserves. If Iceland can pull it off it is likely because their debt is only $10.837 million. The US' national debt is damn near $20 trillion.
3) There isn't much to stop banks from over leveraging their gold.
4) When banks over leverage their gold, it makes recessions much worse as bank runs put tons of banks out of business.

Gold standards are a decent idea for countries with a smaller economy, but our economy is just too large to implement such a thing.

Apologies for the delay in responding.

Your number one the power in the hands of the owners of the gold mines? As opposed to who has the 'power' now?

If one controls the price that gold can be sold, one would think the real power would reside with the controllers of the price, not the mine owners.

Your number two, then set the price for the gold even higher and leave room for more printing. Then a balanced budget amendment.

Number three, if the banks gold is kept in the hands of the gov't, then there's a means of controlling banks from 'over leveraging' their gold.

Number four . I see that. Yet, leaving it as it is and gov't taking liberties printing the stuff and piling up the debt will make those recessions look like a walk in the park.

What would you suggest an alternative?

originally posted by: andy06shake
a reply to: tadaman

Killing the current POTUS could quite possibly be considered an act of mercy to the rest of the world.

Because the needs of that particular Muppet sure don't outweigh the needs of the many.

End of the day through it's all just window dressing for our masses.

I suspect you live outside the U.S..

a reply to: ClovenSky


Except precious metals are used regularly in manufacturing and not having it available is not something we encounter.