Will the US Ever Return to the Gold Standard.

Discussion in 'Mayberry Lounge' started by Cheese, Dec 19, 2016.

  1. Cheese

    Cheese Banned Banned

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    Can will ever return to the gold standard here in the states. Are the any countries still using it.
     
  2. sub_thug

    sub_thug Silver Belt

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    No, we won't. Most countries will not measure the value of their currency against how much gold that they possess.
     
  3. SleepyBoy

    SleepyBoy Silver Belt

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    No, it would be utter disaster. That ship has sailed.
     
  4. JudoThrowFiasco

    JudoThrowFiasco Charming Quark Platinum Member

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    No, but that should not stop people from privately investing in gold. It is a good commodity to hedge your investments against.
     
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  5. Strychnine

    Strychnine Steel Belt

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    President to be Trump wants it...

    "DONALD TRUMP: Bringing back the gold standard would be very hard to do, but, boy, would it be wonderful. We'd have a standard on which to base our money."



    I doubt it'll happen though. Like @SleepyBoy posted. "That ship has sailed."
     
  6. Peteyandjia

    Peteyandjia Saku Spring Staff Member Forum Administrator

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  7. Jack Reacheround

    Jack Reacheround Never Go Black

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    No. There is no point. Credit is the new gold standard. Nobody cares how much gold we have. They just care about how likely we are to pay back a loan.
     
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  8. Roca

    Roca Banned Banned

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    We need to move forward, not backward. Get away from a currency-based trading system manipulated by the rich for the benefit of the rich and start valuing resources based on an absolute, objective basis.
     
  9. Guestx

    Guestx Guest

    It is as it should be.
     
  10. Cubo de Sangre

    Cubo de Sangre Titanium Belt

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    Now without a major event triggering a massive regression of society.
     
  11. TeTe

    TeTe Senior Moderator Staff Member Senior Moderator

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    At this point we won't. I guess an argument could me made for fractional gold backed system. Not make the entire value based on the current value of gold 100 percent, but too many banks make a killing off of imaginary money for that to ever happen.
     
  12. jericksen5

    jericksen5 Black Belt

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    No. Take whatever reason you like for why we got off the gold standard, official or conspiracy, it still remains true that it's not at all logistically practical to have a modern economy based on a precious metal that is difficult to move around.

    Currency for most transactions will go digital. Bitcoin or some equivalent. Probably not all of it, but I believe the majority of it. It can solve almost all of the major problems we have with the incumbent currencies.
     
  13. HunterSdVa29

    HunterSdVa29 Respect, tho Platinum Member

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    this isn't wizard of oz, we're not 'following the yellowbrick road'

    not saying the Petrodollar is exponentially better, but basing it on a finite resource not found much in our country wouldn't make sense these days
     
  14. rj144

    rj144 Silver Belt

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    But that's the benefit of the gold standard. It keeps from borrowing too much and making the actual paper money worthless.
     
  15. rj144

    rj144 Silver Belt

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    I don't think a lot of people understand the gold standard. The 2008 economic collapse was allowable partly do to the fact we're not on the gold standard anymore.

    "It is no secret, the western dollar-led fiat monetary system is on its last leg – as eventually any Ponzi scheme will be. What does ‘fiat’ mean? It is money created out of thin air. It has no backing whatsoever; not gold, not even the economic output generated by the country or countries issuing the money, i.e. the United States of America and Europe. It is simply declared “legal tender’’ by Government decree.

    No pyramid scheme is sustainable in the long run and eventually will collapse. It was invented and is used by a small invisible upper crest of elite making insane amounts of profit on the back of the 99% of us. Since these elitists are in control of the media with their lie propaganda, as well as the warmongering killing machine, US armed forces, NATO, combined with the international security and spy apparatus, CIA, MI6, Mossad, DGSE, the German Federal Intelligence Service (BND) and more, we are powerless – but powerless only as long as we ignore what’s really going on behind the curtain.

    Our western monetary system is based on debt has all the hallmarks of a failing global monster octopus. The US banking system was deregulated in the 1990’s by President Clinton. The European vassals followed suit in the early 2000’s. About 97% of all the money in circulation in the western world is ‘made’ by private banks by a mouse click in the form of ‘loans’ or debt. Every loan a private bank hands out is a liability on that bank’s books; a liability that bears interest, the key generator of the banks’ profits. Profit from thin air! No work, no production, no real added value to the economy."

    From:

    http://www.globalresearch.ca/the-co...reemergence-of-gold-backed-currencies/5521107
     
  16. Jack Reacheround

    Jack Reacheround Never Go Black

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    I have seen nothing that suggest it does.
     
  17. rj144

    rj144 Silver Belt

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    Read my above post.
     
  18. Jack Reacheround

    Jack Reacheround Never Go Black

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    Globalresearch is a dubious source at best and outright bullshit at worst. Everyone knows what caused the financial collapse and it wasn't lack of gold standard. It was the lack of regulation on mortgage lenders and deregulation of credit agencies. Everybody knows this so don't even say "source."
     
  19. Jack Reacheround

    Jack Reacheround Never Go Black

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    Sites like globalresearch.ca are a huge problem. These sites don't have any credibility. They peddle their bullshit, and when it is proven false, they face no repercussions. When mainstream media outlets get shit wrong, they immediately have to print retractions and fire someone. And it appears globalresearch isn't even trying to get it right. They are just right wing propaganda. If you are reading that site for your news, you should stop. One look at their front page articles and it is obvious that they do not care about the accuracy of their content and care more about serving as a "source" for people like you who are hoping to peddle some ideology, appearing official and credible at a glance, so as to throw off anyone not equipped to determine the credibility of such outlets. They, and sites like them, are the reason people think Obama is a secret Muslim who wasn't born in the US.
     
  20. FyrFytr998

    FyrFytr998 Not my clowns. Not my circus. (2020)

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    Nope. I'm moving into the Ammunition Standard, because when the shit hits the fan, bullets will be worth more than any gold bar.

    Seriously though, I think it's too far gone to go back to a gold standard.
     
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