Posted on Nov 24, 2015
Is it possible (or even a good idea to consider) for the US to revert back to printed money "in gold standard?"
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Posted 9 y ago
Responses: 12
I read somewhere (yes, one of those unattributed sources) that there wasn't enough gold to revert to the gold standard. A better plan would be to eliminate the Federal Reserve.
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SGT (Join to see)
I've never even thought about that. Sounds like you're suggesting to remove the Federal Reserve, maybe because they're responsible for printing and pushing more money into circulation. Am I getting you ?
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SGT (Join to see) No, perhaps we could have in 1935 when FDR pulled us off the standard to create inflation in an attempt to benefit the economy or even in 1973 Bretton-Woods agreement when the US and major European powers had fixed exchange rates. Fiat money is what exists now and printing more and more of it is where we will be for the next 30 years.
We need our own and all governments to focus on living within their means and stopping the debt spiral. We can expect slow or no growth for the next 10-15 years with current policies. I don't believe most politicians understand we are in a massive deflationary cycle caused by existing policies and driven by major companies/institutions pursuing lowest cost labor strategies.
We need our own and all governments to focus on living within their means and stopping the debt spiral. We can expect slow or no growth for the next 10-15 years with current policies. I don't believe most politicians understand we are in a massive deflationary cycle caused by existing policies and driven by major companies/institutions pursuing lowest cost labor strategies.
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You (and anyone else) should watch the documentary Money Masters - in a nutshell, printed money is worthless because it is not backed up with anything. The so called Federal Reserve System is but the fourth central banking system in the United States, run by private banks and it is NOT part of the Federal Government at all. The previous three cebtral banking systems were all anulled due to fraud and criminal activity. Our current central bank should go the same route, look at what they've done: as soon as it was (illegally) chartered in 1912, we got thrown into WW1 and many other wars since. It was instrumental in the total confiscation of personal owned gold in WWII - there's no space here to relate all the crimes committed by the central bank. Get rid of useless paper - go back to real gold and silver.
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