Home Forums Hunting & Shooting Hunter's Campfire BRICS gold backed currency

In the OP folks might want to look into kitco.com, Taylor and mining stocks.com.

Interesting reading.

The U.S. government will outlaw any trade in anything but U.S. fiat dollars. This government will collapse completely if good money is allowed as an alternative. As it stands now you cannot refuse U.S. fiat dollars as payment on a debt and I don't believe you can contract a future payment to be tied to the price of gold. As in I can't sell you a piece of land for $100,000 to be paid ten years from now for whatever 100 ounces of gold would bring at that time. As of today that would be in the neighborhood of $200,000 which would be a fair price for holding my $100,000 dollar loan for 10 years. But 10 years from now 100 ounces of gold could be worth no telling how many fiat dollars, possibly $10,000 an ounce or more.

The U.S. simply cannot allow contracts or payments to be required in GOOD money, hence the notation on your federal reserve note making it legal tender for all debts public and private.

If nothing else works they will put a huge prison sentence on anyone dealing in real money. It was done in 1933 by FDR through executive order and ratified by the courts.

I hope we can go to good money but good money has very powerful enemies.

Hastings my bad money seems to spend well enough.

People have been bartering since the dawn of time.

You are right, people have been bartering and always will. As in I might trade someone a bull for however many tons of hay or other feed or pay for something by doing X number of hours of bush hogging. And true enough your dollar spends well enough but how many potatoes or pounds of beef will it buy compared to 1970. My house has a slab of 2452 square feet, I was able to build it in 1978 for $32,000. That wouldn't frame it up now so your dollar has gone to sheit. In 1978 when I moved in my $32,000 house I could have presented 160 ounces of gold and paid for it. 160 ounces of gold is about what it would take to build that house today.

I don't trust governments, especially the BRICS.

A bit of paranoia is a good thing. Keeps you alert.

Fair enough but what levels were the stock markets during the era you mentioned and what was your salary then compared to now. Interest rates?

Also we might recall the price of gold shooting up in that period then falling down to the $200 range to the point that it wasn’t profitable to even mine it at one point.

Truth.

Have a meeting with my financial advisor soon. Investing in BRICS will be brought up.

Would be interesting to know what your advisor says if you can share it.

I hope we can go to good money but good money has very powerful enemies.[/quote


As JFK learned the hard way

Yes, JFK and Jesus were both murdered for threatening the money gang.

The international bankers that have a stranglehold on most of the world will fight good money to the last ditch.

That is a big reason for the attempt to destroy Russia. It possesses great wealth in resources and territory. Therefore it is a threat as long as it has an independent nationalist government. If anyone thinks we are worried about the "brave people of Ukraine" they can forget that.

We all know this is part of the Biden plan to destroy America. Shoe to drop soon.

may i assume that all who are in favor of 'real' money backed by gold don't have any credit cards in your wallet?

What does a currency backed by gold have to do with a credit card?

No, but I agree that general purpose credit cards (as opposed to charge cards and cards only to be used for specific businesses, such as Macy's or Exxon cards) should have been outlawed when they first appeared in the 1970s. The effect that they have is massively inflationary, creating the appearance from the perspective of the marketplace that there is much more available money floating around than there actually is, thus bidding up prices on everything.

Well I do have a gold card, so there's that....

What?? No Platinum Card?

When you pay with a credit card, you add to the money supply. When you pay the bill, they cancel out, reducing the money supply. When you want a gold standard, what you want is to limit the money supply, as it can't exceed the backing gold, which, by the way isn't backing at a 1-1 rate.

We once did have a 1 to 1 gold standard, then gradually allowed banks to hold less and less of the actual gold that was backing its currency.

But even a partial gold backing (say, requiring 50% of the currency to be backed by gold reserves) is many times better than a fiat currency.