Gold = $$

reply to post by Johnmike


So what is you're point besides stating the fact that all the gold in fortknox mysteriously disappeared?

Originally posted by Techsnow
So what is you're point besides stating the fact that all the gold in fortknox mysteriously disappeared?

*SNIP*

*SNIP*

Decades ago (a decade is 10 years), dollars were backed by gold. What this means is that your dollar would represent a certain amount of gold.

However, this was put to an end. We tried different mixed systems, until 1971 when the exchange for gold was suspended. In other words, since that time, our money has been backed by nothing. It is only a piece of paper.
It does not represent any gold at all.

And there's still gold and whatnot in the United States Billion Depository (Fort Knox). That's where our gold reserves are, and whatever else we have. This is not used to back any currency.

*SNIP You really have to do research on your own, especially since you're so loud about this stuff.

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[edit on 4/10/2007 by Mirthful Me]

Look at a Dollar bill, It reads "federal reserve note." Federal reserve notes replaced SILVER certificates. Gold backed dollars and gold were done away with many years ago. Our money (US dollars) are only good for debts and purchasing They cannot be redeemed for gold or silver so why would they be tied to the price of gold? (Economics 101)

www.freedomtofascism.com All can say about this is watch the Late Aaron Russo's movie
you tube clips of Freedom to Fascism

Its put is all into perspective

and the supply of new money is controlled by the Federal Reserve. They print money out of thin air, basically.

reply to post by Johnmike

Hi Johnmike, I hear a lot about the Fed just printing money. They do but by law they can only print enough to replace the bills and currency that go out of circulation because of wear and tear on the currency.

The way the Fed (or the Federal Open Market Committee or FOMC) controls the money supply is also controled by law. If the FOMC decides it is good policy to increase the money supply (not exactly "making or printing money") is they buy up Treasury Notes or bonds. Fewer bonds, more money out there in the money supply. If they decide to decrease the money supply they sell bonds, dollars come into the Fed and out of circulation. Another less used method is the Fed can require private banks to hold more dollars in reserve for safety reasons and this takes money out of circulation.

We have had this 2nd National (Fed)Bank since Pres. Wilson in 1913 (after the banking panics earlier). It is a quisi governmental institution owned mostly by many private banks (any bank with National in its name). If you study the institution, they do stay "in the black" but I fail to see how they are rolling in profits or are taking advantage of people. So I say, relax, turn off the paranoia switch. Buy a little gold if you wish, can't hurt. I just think there is more money in stocks right now but what do I know?

I hope this thread is not an indication of the level of education today. I'm afraid it is though.

The value of currency is a combination of factors. Mainly productivity vs the volume of currency in circulation. When the dollar falls it is usually cause and effect. The Fed circulates more or less currency to help fend off inflation as well as raising or lowering interest rates.

Best place to learn this stuff is in school or your local library. It is important to have at least a basic understanding and it is not that complex. So why waste time asking others who clearly are guessing instead of picking up a book? Course study on these topics is as much a no-brainer as Liberal Arts.

reply to post by NovusOrdoMundi


Youre correct. FEDERAL RESERVE NOTES are not money. In title 1 of the Constitution it says "money" is silver and gold.

And if any US "government" entity asks you for "money", you can ask for redemtion of your FEDERAL RESERVE NOTES in silver.

Sound enticing?

reply to post by Techsnow


sorry to say, but you are wrong.the value of the dollar is based on a "basket" of about 6 other curriencies, and how the buying power of the greenback compares to them. there is absolutly NO metal supporting your dollar. it is a promise,thats all. the last time u.s.currency was based on metal was 1963. this was true u.s. currency, based on silver,hence the "silver certificate". jfk had about 4 billion in SC's printed about 6 months before he was killed and then when he was dead they were recalled and not honored for redemption of silver after that. if you think your dollar is backed by gold or silver,go to the bank and try and redeem it for it. you'll be sadly dissappointed. if you look into it you will find that no entity but the treasury is allowed to issue u.s. money,and that the way it is set up is treasonous. the federal reserve is a private corporation,which lends the u.s.our money and charges us interest. if you further look into it ,you will find that 100% your income tax goes to pay the national debt, which is the intrest on the money loaned to the u.s.
that is why billions upon billions of dollars are just printed and handed out.
for a better understanding please google PETRODOLLAR
THIS IS WHY WE ARE IN TROUBLE, WE IMPORT GOODS AND EXPORT DOLLARS ... it doesnt work, and it is now catching up with us!
a good place to start reading about this is the book " the creature from jekyll island"
jekyll island is where the perpetrators of the fed met to create it. you'll really like the story of how they got it thru congress.
i dont mean to say that before the demise of the gold standard it wasn't backed by gold,but that i believe that you couldn't redeem dollars for gold at a bank. i believe it was only for international payments. someone please correct me if i'm wrong on this,because there are different types of gold standards.
i guess the first thing you have to know is that gold,like orange juice,pork bellies,grain,corn,etc,are commodities,and are traded as such. this is a real generalization of the situation,but if you reasearch point by point,i think it will make a great deal of sence as to how things work.
hope i helped, but you may not be happy about what all this did,and mean for our country, but man o man is it an interesting read enjoy
[edit on 4-10-2007 by Spectre0o0]

[edit on 4-10-2007 by Spectre0o0]

[edit on 4-10-2007 by Spectre0o0]

When the dollar falls it is usually cause and effect. The Fed circulates more or less currency to help fend off inflation as well as raising or lowering interest rates

reply to post by Blaine91555

Hi Blaine, Specifically and most important is the demand for the dollar because it floats on the international market ( but it is a "dirty float" because the Fed can influence the price by buying dollars). If foreigners need to invest in US goods then they need dollars so they go buy them on the market thus increasing the price of the dollar. Our interest rates just went down so they are not going to invest in our bonds and other interest producing instruments and I'm going to guess that other US commodities aren't selling that well at present like housing, real estate and whatever else is in a slump.

But I see you're from Alaska, how do you feel about Peable Mine since it would be a major gold producer? Not such a bad thing for a state with decreasing oil revinues don't you think?

reply to post by Johnmike


Hi Johnmike. I guess I should admit that I did never take economics but I am interested in learning more so please tell me where I'm wrong thanks.

I understand why you think there is still gold in United States Billion Depository but it is odd that it has been refused for audit many times since the gold was withdrawn out of circulation and put in there.

"Decades ago (a decade is 10 years), dollars were backed by gold. What this means is that your dollar would represent a certain amount of gold."

And decades ago money was based on Lincolns green backs... and then latter they were based on JFK's silver notes. I should have you know that both of those currencies at the time were based on nothing but the word of the U.S. government which means they were good of course.

"However, this was put to an end. We tried different mixed systems, until 1971 when the exchange for gold was suspended. In other words, since that time, our money has been backed by nothing. It is only a piece of paper.
It does not represent any gold at all."

This is where me and you come to a disagreement. You think that the money we use today is based on a piece of paper that our government supports. Contrary to the green back and the silver dollar, the federal reserve not is something much different.

I don't want a long drawn out argument on economics because I think people make it more confusing than it really has to be. To reply to the OP I would just like to give a quick history on banks.

Gold smiths were kinda the first bankers, before them their were just money exchangers. The smiths would hold the gold for people and give a reciept for the gold to reclaim it. People started using the reciepts because it was paper, easier to carry around, no back and forth trips to the vault..
Well the gold smiths realized that most people rarely claimed their gold and they manipulated the system by printing more reciepts than there was gold... Thus creating money for themselves out of thin air. We use this concept still today (which is a bad thing).

In all reality there should be no interest on loans because interst is based on a system where you are handing out more money than you ACTUALLY have which is exactly what the first gold smiths did.
So what is going on is your local bank charges you 8% interest right... well they are allowed to hand out 10% MORE than they actually have...
so they are actually charging 80% interest.. or they are actually making 80% proffit from giving you a loan.

Now a quick note about the federal reserve...
Nothing federal about the federal reserve, is an independent PRIVATE bank. They work for profit. The name is a deception. It operates outside of congress! They decide what your car payments are going to be, and weather you have a job or not. IT is a monopoly on $$. And in case you're wondering, yes you live in a plutocracy.

The issuing power should be taken from the banks and returned to the people to whom it belongs - T.Jefferson.
Whats that meant to you?

This is exactly why...

www.youtube.com...

Amero here we come!! The media will describe it as "the perfect solution to our currency falling crisis."