Can gold be valued in currency or is itself money?
Published on June 21, 2010 14:45:00 IST
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My suggestion to Ron Paul and all those wanting to return to gold, is the best way to accomplish this is not by proclaiming your determination to replace the Federal Reserve Board with the gold standard, but to attack the legal tender laws of this country.
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The key is to go after the governments monopoly on money. If broken, gold will find it’s way into the monetary system, as it is today, and reclaim it’s superior role as long as it is not prevented from doing so. Legal tender laws do just that. They prevent choice.
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If governments fail to get their fiscal houses in order there is no telling what the future will bring. Gold offers some semblance of security. Among other things, it is a hedge against stupidity. Given the almost criminally reckless fiscal policies of government, who in his right mind would not want to protect himself. And if a currency crisis occurs, who would believe the promises of a new government paper currency in light of the broken promises of governments everywhere. Gold is not a promise that can be broken, and therein lies its present appeal.
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To all the pundits that believe a gold standard is impractical, I suggest they look at the present fiat system and then judge it against the hundred years of monetary stability we enjoyed in years past under the gold standard. Then talk to me about which system is practical and which system is not.
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The Dead Old White Guys had just experience the inflation of paper money. They saw first hand how it let the Gooferment buy more than it had without any check or balance.
By the creation of the Federal Reserve Bank —
(which: ain’t “federal”; it’s a private cartel of banks; ain’t a “reserve” of anything; it’s ious with the taxpayer being the ower; and ain’t a bank; it’s a price fixing machine that makes the bankers rich and the politicians with an unending supply of spendable “money”.)
— they have made the Dead Old White Guys’ worst nightmare true. Unchecked gooferment.
Time to roll back “progress” and go back to gold.
As a check on gooferment spending. ANY gooferment!
How can we be “independent” without honest money?!
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