If we shifted to a Gold Standard....

What would happen to our economy as of right now? I think that it would drop alot becuase honstly we probably dont have alot of gold. I mean we dont have gold to back our money, so that mean that it would drop, but as the more gold we would get the better the economy would get?

Ever heard of CASH4GOLD.com and their commercials, the Government has been stocking up on gold through companies like this. If im correct, we have the 2nd, if not largest stockpile of gold.

I think we should switch to tally sticks.

Also, I don't the the U.S. has the 2nd largest gold reserve. But who would know, when was the last time fort knox was audited? Anyone know?

Ofcourse Gold would be a great idea to have as money. But most countries don't have gold mines like the U.S. or Russia to name a few. Now it wouldn't make any sense to carry a load of gold with you if you are buying something. You would need some sort of paper which would be like a transfer of your gold account to the other persons gold account. We use to have it here in the U.S. but Mr Rooservelt took us off it. Now also think of the U.S. debt right now. Think of how much gold we would have to ship to China to pay off that debt. Do we have that much gold?? Remember, we got ourselves into this mess because the people here in the U.S. just like to spend money as if there was no tomorrow so people keep themselves in constant debt. Now they can't pay that debt because they have no jobs or savings to hold on to. Do we really need so many things in life that we just cannot live if we didn't have it now. .But to answer the question again is yes we should go back to the gold standard.

reply to post by USamf


I thought i heard that no one has actually made an audit on how much Gold you have in fort knox since the 60's.Might be wrong though...i can just imagine it barren and full of cob webs..

Originally posted by Techsnow
I think we should switch to tally sticks.

Also, I don't the the U.S. has the 2nd largest gold reserve. But who would know, when was the last time fort knox was audited? Anyone know?

Ron Paul says it was several decades ago and that's crazy if it's true.

Gold standard may be better than fiat money but it has its downside too. Under a gold standard the banks can buy up gold and thereby cause a contraction in the economy and with everybody going bankrupt then, they use their gold to buy up all the assets at cut-rate prices. That release of gold into the economy starts another economic rally until the bankers start buying gold again. Boom and bust forever.

Under a gold standard we may really be under the bankers thumb.

If we shifted to a Gold Standard....

Nothing would change. Like with Obama. No change.

Goldbugs are goofy!