Are any world currency's backed by gold

You guys should watch Fiat Empire at www.fiatempire.com It is quite a historical documentary of the US system. There seems to be quite alot of hypothesis going on here about value of Fiat Money.

reply to post by Stratrf_Rus


The reality is currency is only backed by law. The only safe heaven currency is your own brain and two hands, (if they both work) since they can potentially value add in real physical terms, from the earth under your feet…

THE SIMPLE TRUTH is gold is money. always has been always will be.
Before there was paper there is gold. Silver also is money. Recall Jesus is sold out for 30 pieces of Silver. As to rarity, silver is coming into short supply because of it's varied industrial uses.
As the currencies of the world continue to decline the decline will be measured not against the dollar which is a fiat currency but against real money, gold.
For reasons already posted gold will survive when all paper burns.
Gold, get you some!
-0j0-

reply to post by ArbitraryGuy


people also set pshicologicall value to gold, that's right
but the points are the following:
1) debt based paper fiat money is worthless because today you need USD 800 to buy 1 ounce troy, tomorrow you will need USD 1000 and maybe in 2012 you will need USD 5000
2) The idea of gold as real money has prevailed over the years, and it will prevail. Gold-money idea is too much stronger than Debt-based paper money idea. And I think people has good criteria to set value. I think you are crazy if you set value to a piece of # paper.

reply to post by RetinoidReceptor


silver is currently at an all time historical low ratio to gold.
historically, the ratio is 16-1; currently, it's approx 65-1. (GD882/oz- SIL13.420/oz=65.72)
www.kitco.com...

what does that mean?
silver has the opportunity for HUGE returns, if the ratio adjusts itself to historical levels... which it always does.

NOTE: silver investments or "paper silver" is just that....PAPER!
if you want to protect your wealth and not just hedge against inflation, then you want the silver and/or gold sitting "in your basement safe" or safety deposit box or whatever.

also, for those, like myself, who are planning for the collapse of our current economies, then SILVER is your best bet, as trying to trade with gold is.... a little tricky.
silver coins would be your best bet in that situation, even though you'd be paying a premium over bars.

i won't be returning to this forum, so good luck everyone!

norton

Canada is backed by gold and platnum , we make quadrillion dollar bindles that have 1000 billion dollar notes . The notes must ALL end up in order at a verified first world econmy old banking system industrial and they can then be traded with Canada for the equivalent in Gold or Platnum if needed . Canada is one of the oldest first world economy and we dont trade with anyone outside of kanata and eastern borders . We have a new government system not only to defraud theives of our currency but our data banks with government folders are impossible to hack .

The quad is actually for business in space , a trillion is real money when doing biz on the new amerikan space station but biz will always be slow . canada hopes in the future to put a permant space station a few stars away in the galaxy we inhabit , we will watch all traffic up there comming in and we will talk to other first world old countries from Easrth there and only there . Canada no longer agnolwedges the Southern United States , we are selling all properties and we wish our dual Indian canadians residents and amerikan indian residesnt who are property owners in Kanata would be treated properly by fakes pretending to be Amerikan residents .

Gold is rare, relativley unreactive and a somewhat useful material so it's an ideal choice as a basis for a universal currency. An ounce of gold will always be worth an ounce of gold unlike a dollar who's purchasing power decreases over time. Any dollar or fiat currency will lose it's purchasing power over time. So it's better to buy gold with a fiat currency which can in future be sold in exchange for fiat currency. ie $80 dollars worth of gold bought in 1919 can be sold for $1,067 today.

For more info on how banks work watch a documentary called Zeitgeist (part 3)

Thanks to the poster above for the 15% Euro info .... its a very important question, which are the 'gold backed currencies'. The dollar will die, followed shortly therafter by the Euro .... as to the question of timing, I dont know - I do wish to buy currencies backed by gold as I think they will be the last man standing.

ArbGuy - proove me wrong, steer me in a better direction with my money - what are u doing with yours or are you all hot air? (Sorry to be provocative but to my simple mind the S is HTF at the moment and I have no need of a poseur, if indeed that is what you are).

Good question ... which are the 'gold backed currencies' .. I've searched about and come up with little. Will post back any findings.

the swiss franc is backed 40% by gold reserves

reply to post by Stratrf_Rus


You people need to understand economics, history, marketing and investment ... the least studied disciplines in America (a.k.a., the "educationally challenged," if you want to be politically correct). It seems as though nobody understands anything about value.

Gold has been the historic base for currency for the past 10,000 years. Through time, the demand for gold has been constant. There are many uses for gold from jewelry, to medicine, to electronics, and many other high tech applications. Even though the population has grown exponentially, the demand for gold remains the same because of its scarcity and and labor to extract. It is the only element on earth that has a constant demand, it is ubiquitous, and it never changes, e.g., it doesn't rot, it doesn't deteriorate, it doesn't change for, etc. ... it never changes.

Again, for those who are educationally challenged, just look up what happened to Holland when they went on the tulip bulb commodity as a currency. As you look throughout history, the countries who did not have gold for trade and commerce, they no longer exist. They couldn't trade, they couldn't pay for their troops, they couldn't sustain an economy, and they couldn't sustain a government.

So, we are here in the USA today. We have a trade imbalance, we are in debt where we cannot even pay for servicing the debt, we have no gold, we produce nothing except for debt, we have a deteriorating infrastructure, and we have a collapsing economy. It is easy to forecast the end of another country, i.e., at least it is easy to see for the non-educationally challenged. Go ahead like a dumb flock of goats, and just follow the goat herder right off the cliff.

Here are the facts: We have been running the country like a pyramid scam, printing currency without anything to back it, claiming debt as an asset, and trading currency as a commodity like "baseball cards." There is no gold to back the dollar. The only thing that this country produces is debt.

The government allowed companies like Enron, WorldCom, Tyco, Nortel, and all the others to clim debt as an asset. Then, we put their CEOs and CFOs in jail. Then, the government started doing the same thing ... counting debt as an asset, and the US has been spending and trading for the goods fully knowing that we had more debt than possible revenue ... the US has more debt than there is money in the entire world.

If the dollar were backed in gold, we could trade gold and not be in debt. But, the US currency is only backed by debt. Well, the people in debt cannot pay their debt, so there is absolutely nothing to back the dollar. Everything in nature, science, the cosmos, and economics will always seeks homo stasis. In other words, the US cannot sustain a false economy for which there is no basis. When something dies, there is a frenzy of activity, then everything suddenly collapses on itself. It doesn't happen over decades, it is all of a sudden. Such went the way of whole countries and empires all throughout history.

I look at the dialog of those who have written above, and don't have a clue of economics, history, marketing, finance, and investment, and nobody has a clue of what they are talking about. It's seems funny, but is really pathetic. In the world market, see what you can trade for gold. Then, see what you can trade for the USD. You will find that nobody is accepting the USD. It looks like some people finally woke up and realized that debt is not an asset. So, if you are still unclear, ask yourself what is the difference between gold and debt. Gold is real and tangible. Debt is a negative expense for something that is not there and accruing interest until it becomes a positive number.

If you have figured it out, what you see right now with the economy, so will go another nation that does not have enough gold for trade.

Gold Is a very usefull element. It's almost a wast to use it for show. I fear [in the hidden scope of things] dollars and cents will merely be the noose we hang ourselves with. Matter is the real prize credits are for the sheep. I had an epiphany the other day~>

http

Thanks to my good buddies at POPSCI

reply to post by ArbitraryGuy

Gold is money. It has always been money. It doesn't stand for money. It is money. It has intrinsic value. Until you understand this, you will be in the dark financially.

3 Steps to Outlaw Money

1. TELL everyone "government issues free money, everything's free".

2. Take only what's necessary from the stores without paying. If stopped, return to 1 above.

3. STOP paying utilities, taxes etc to "force" government to provide everything freely because government issues free money anyway.

NOW copy and paste this everywhere you can. EMAIL this. It's fight back time NOW or never!

It turns out that the islamic countries have been planning a gold based currency for some time. Presumably to stabilize their currency, possibly to destabilise the USD and other fiat currencies. It's called the dinar and it's
been around since the start of islam.

The joke is on any country that thinks gold is worth something and they can bankrupt the US.

In the US less then 1/100 of one percent of the gold that is economically mine able has been mined.

There is in the sea water in the pacific ocean more gold then has ever been mined worldwide.

You could pay off the national debt with the gold that is in the electronics and buried in cemetery's in the US.

Originally posted by ANNED

It turns out that the islamic countries have been planning a gold based currency for some time. Presumably to stabilize their currency, possibly to destabilise the USD and other fiat currencies. It's called the dinar and it's
been around since the start of islam.

The joke is on any country that thinks gold is worth something and they can bankrupt the US.

In the US less then 1/100 of one percent of the gold that is economically mine able has been mined.

There is in the sea water in the pacific ocean more gold then has ever been mined worldwide.

You could pay off the national debt with the gold that is in the electronics and buried in cemetery's in the US.

riiiiiiight

put the koolaid down

that sounds mighty fine but if its true I thank you for the insight

reply to post by ArbitraryGuy


Gold in 1849 WAS worth a lot less because it was easily picked up. The storekeepers around them traded food and sundries for ounces of gold, for far more than the true 'market value' of the gold at the time.

reply to post by mr_albest


I actually checked up on this awhile back and you are incorrect. The legal tender statement is non-binding it means only that a vender may take cash as payment. That came from a dot.gov site although i dont recall which (maybe bureau of engraving). And go ahead, try and purchase an automobile for nickels or a house for dollar bills. They'll refuse and you are without legal recourse.

reply to post by ArbitraryGuy