Ron Paul & the GOLD standard.

"I am Ron Paul, for the gold standard.!"
And the crowd applauds

Ron Paul wants a complete overhaul of the monetary system which includes getting rid of the Federal Reserve, which on his website they call the "money elves" because money magically is created and so generously distributed like gifts to banks who have repetitively put the financial well being of OUR families at stake with unfair/moronic practices.

Candidate Paul wants a system backed by Gold & Silver
Why.? Because you can't pump gold & silver out of a press. The central banks won't be able to print up paper dreams or manipulate the market. Also thus eliminating counter-fitting, then maybe their would be no USE for the fed. End the fed.!

Is hyperinflation imminent.?
How long will it be until foreign holders of our $1.3 trillion debt back up their own currency OR increase their gold reserves.? Or are they doing so now.? How long do you think it will be until we really default on our loans.? When things don't work you get rid of them or try to fix it. The Federal Reserve cannot be fixed and should have never existed. Apox on thee.! After WWI Germany had no gold to back up the Rentenmark, and had to mortgage off their own land to pay reparations. How long until China owns your backyard.?

Because Ron Paul's website does not elaborate on how he plans to go about this, I'll try my own hand at it.
DISCLAIMER : I don't claim to be any type of economist

Now in 1861 gold and silver tender was only suspended, to be replaced by gold certificates in circulation in the states from 1882 to 1933. Allowing the international banking monster to consummate.

The total amount of gold that has ever been mined has been estimated at around 142,000 metric tons[51] and arguments have been made that this amount is too small to serve as a monetary base. The value of this amount of gold is over 6 trillion dollars while the monetary base of the US, with a roughly 20% share of the world economy, stands at $2.7 trillion at the end of 2011.

en.wikipedia.org...

Could our current amount of Gold reserves be enough to sustain the United States current economic system.? If gold wealth were represented in overall GDP. Individual worth would be much less. Also measured in grams. Precious metal backing of paper currency was suspended as a result of the Civil War. But $1 is still equal to about 1.505 grams of gold, the gold standard. With a population of about 311 million people, is this system feasible with the possibility of growth.?
Edit *snip snip* Thank you conspiracytheoristIAM

In 2010 the United States reported a holding of 8133.5 tons of gold bullion, equal to 237227081 oz.

237227081 oz*31.1 grams
Multiply this by 31.1 grams

=7377762219 grams
We get 7.3 billion grams of gold

7377762219 grams /311000000 people
Divide this number by every U.S citizen

23.7 grams
We get this number, everybody would own 23.7 grams of gold

23.7 grams*1.505 grams
Multiply this by the equivalent of a dollar in gold grams

We get $35.66
Everybody can now afford to feed their families for one week, maybe even a nice apple for desert.
Now let's factor in that the richest 1% in this country account for 1/3 of our net worth
In my opinion there would have to be A LOT less people in our country for this to work.

Once again I don't claim to be any type of economist but do you think this is a possibility if Ron Paul is elected.?

These are the top Gold bullion holding countries.
1.United States
2. Germany
3. IMF (International Monetary Fund)
4.Italy
5.France
6.China
7.Russia
17. Iran
en.wikipedia.org...

Keep in mind that more or less currency in circulation does not mean more or less "wealth" or economic growth or affluence at all.

A limited money supply would have more purchase value, would be more stable and would minimize the influence of governments and central bankers on the currency overall, since they could no longer artificially regulate the relative value of money.

That's a big plus in my book.

Precious metals are measured using Troy standard....31.1 grams is an ounce....12 ounces to a pound....you need to recalculate !!

21.4 grams
We get this number, everybody would own just under an oz of gold.
By the gold standard that's equivalent to $32.10
Everybody can now afford to feed their families for one week, maybe even a nice apple for desert.
Now let's factor in that the richest 1% in this country account for 1/3 of our net worth In my opinion there would have to be A LOT less people in our country for this to work.

Are you including Silver in your figures and also how did you get $32.10 a person? 21.4 grams of Gold is worth $32.10?

I am for the gold standard too.

Now here is a poll to let them know who you think won the debate tonight:
theswash.com...

Originally posted by TheLieWeLive

21.4 grams
We get this number, everybody would own just under an oz of gold.
By the gold standard that's equivalent to $32.10
Everybody can now afford to feed their families for one week, maybe even a nice apple for desert.
Now let's factor in that the richest 1% in this country account for 1/3 of our net worth In my opinion there would have to be A LOT less people in our country for this to work.

Are you including Silver in your figures and also how did you get $32.10 a person? 21.4 grams of Gold is worth $32.10?

No, just gold.
My mistake, I skipped a step, I multiplied it by the equivalent of a dollar in gold grams.

You people do not realize that up in till 1971 the dollar was backed by gold. After 1971 they took gold away and the dollar was back by nothing. that is when this whole dollar scam started. until we back the dollar up with either gold or silver the dollar will keep being devalued. That is what Ron Paul is talking about.

In my opinion Ron Paul is the only sensible choice for president. Anybody else would continue the same destructive principle that crippled us. We all see how hard TPTB are trying to hurt this guy.

Here's what we're talkin' about!

GOLD! The Populace has Caught Up with Ron Paul: It's 1980 Again

Discussion of gold has gone from nonexistent a decade ago to the question of whether its price is in bubble territory, and now a policy question in the Republican primary. Ron Paul has been stumping for a return to the gold standard for decades, and the populace has finally caught up.

The issue resonates with young people who worry about a dire future with a dollar crash and nationwide poverty. The gold issue is hot enough that Newt Gingrich has promised to appoint a gold commission, with The Case for Gold coauthor Lewis Lehrman and Jim Grant as co-chairman... finish reading>>
chasvoice.blogspot.com...