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

How is paying with a credit card any different than a house account, say at a auto parts store or local hardware store? You walk out the store with out paying, receive a statement stating what is owed with net 15 or 30 days and after that interest is tacked on.

Here's what's on my US Gold Certificate:

"This Certifies That There Have Been Deposited In The Treasury Of The United States Of America Ten Dollars In Gold Coin (i.e., a US $10.00 gold piece or two $5.00 gold pieces) Payable To The Bearer On Demand."

You are correct. It is the same thing. As a small portion of the money supply consists of cash, and that that value (total money supply) is constantly changing, the static money supply of gold controlled currencies of the 19th century wouldn't work today.

Of course they would. All it would mean is that lunch at McDonalds would cost 15¢ instead of $15.00.

If that's not agreeable with you, then just peg tiny amounts of gold to the dollar, e.g., make one dollar redeemable for one-sixtieth of a gram of gold so that if you turn in $1860.00, you may demand a one ounce US Liberty gold coin.

+1

The Creature From Jekyll Island, A Second Look At The Federal Reserve by G Edward Griffin is an awfully good eye opener. Should be required reading at all institutes of learning.

Agreed. Great book.

I think the difference here is if you charge something on your account at say, NAPA or Airgas, the records stay in house. If you charge something on a credit or debit card, the transaction enters the financial system and is subject to immediate scrutiny by the system. That’s not to imply the government can’t confiscate financial records from a business but there is additional effort required.

What I don’t understand is how it adds money to the system then removes it when payed. Doesn’t the bank pay the vendor with the capital it has on hand?

It doesn't.

i believe in the gold standard, but....as long as there is oil, natural gas and other oil based products, you will love to learn the Petro dollar.

all it is, is a crypto scam.

Right. The combined revolving balances, month to month, belonging to each person with credit cards, maintain a constant false money supply that's floating in digital limbo and bidding up the prices on all goods. In other words, the marketplace "believes" there's more available money floating around than there actually is, and adjusts prices upwards on everything to match. Since the information is false, people feel the pain of the higher than appropriate prices on all goods.

So, do any of the BRICS member countries have a gold standard currency?

China has very effectively weaponized their currency and have an active monetary policy. The Yuan is manipulated with dexterity.

That will look terrible if they have a gold-standard BRICS currency and the fiat Yuan, and are behind both.

At one time, people would accept nothing else as "money", but unfortunately that time is past.

say the money supply is 15 trillion. When you pay at Costco with your Visa, you create money equal to what they sold you. At that moment the money supply increased. The action of Visa in crediting your charge is just bookkeeping until you pay Visa with funds reducing your bank balance and thus wiping out the increase. If you charged $400 the money supply increased to 15 trillion and 400 dollars. How many of you pay with only cash? Only cash is backed by goldor silver. As you may recall, some of the worst financial breakdowns occurred when money WAS backed by gold or silver. And speaking of gold and silver, what was the content of the coins?
Remember Gresham's law...bad money drives out good.

China recently had to devalue their Yuan against the G7 basket of world recognized currencies.

China has many internal problems. Tens of thousands of electric cars sitting in pastures with no buyers, millions of bicycles in the same and ghost towns of what are supposed to be upscale mansions.

Your husband wants his afternoon cheese and crackers . Chop chop

Then go wash your ass, loser.

Money pretty much for the most part has 2 major elements attached to it. The velocity of money and the value of money.

When velocity slows the economy slows and when the value of money drops (for several reasons) inflation typically occurs and both elements interact at varying levels.

The FED tries to control things by manipulating rates and adding to the money supply or reducing the amount in circulation.

No, because there's always a huge reservoir of fake money maintained by all the people who don't pay off their credit cards each month. That amount never disappears.

You just have another stroke toot?

Stupid bastard.