Home Forums Hunting & Shooting Hunter's Campfire The Gold Standard, Yes or No?

Indy,

Time to go back to school... I just ran $1,000,000 and threw in $1300/oz for gold (not sure what the current price is). Came op with ~48lbs, not 3600lbs.!!!

Still a lot though.

What you folks who say there's not enough gold/silver don't get is that as soon as folks abandon fiat currency (which is nothing but a Ponzi Scheme), the purchasing power of gold and silver increases dramatically, i.e., you will have immediate and rapid deflation in real terms, to the point that what you could have purchased for one ounce of gold can then be purchased for a gram of gold. Same with silver. In other words, we're then in the realm of orders of magnitude, real terms, deflation. The total gold and silver supply, in other words, is 100% elastic to the population to which it is in demand as money.

$1800 per troy. About a tie to all time high....

The roof is about to come off.

i doubt we'll go back in any meaningful way. it's been about 50 years of the current rule of law related to money. helicopters full of money fly over and shovel it out to the masses, and not a word is mentioned about the growing debt.

if we do try to go back things will look very murky smoky even on all the horizons we can see. we've learned to live without gold, except in our electronic and communications devices.

but gold and silver were once very good ideas, even better than wampum and animal skins. why not sell all the gold to individuals and shift to all digital as the next best thing.

Regardless, the gold standard is returning.

The dollar has no backing of value anymore, we can't even keep ourselves in toilet paper.

Crypto could be useful but not BTC. Chainlink probably has the most promise on a technical basis, but something like XMR would be better purely as a medium of exchange.

"The gold standard is still the gold standard among monetary systems." - Lawrence White

https://www.zerohedge.com/markets/civilized-relic-monetary-system-good-gold

YES!

at some point, sooner or later, the issue of interest rates (possible usery) will have to be addressed, or rewrite the arithmetical laws. it use to be addressed about every 50 years in the ancient world. we're in the post-modern era now as many folks are learning. we left kansas long ago.

This right here pretty much sums it up very succinctly.

Based on ignorance, as I explained above.

Why not. Lead may soon be the new gold. If it does,I'm sitting pretty good

We should of never come off of it.

It'll never happen.

When FDR took office in 1933 the Federal Reserve had already issued 3 times the gold certificates that there was gold held in reserve to redeem the certificates. This happened under the 4 previous administrations after 1913, 3 of which were Republican.

The copper in a pre-82 penny is already worth more than one cent (originally, a copper penny was a mere token, having only a minuscule metal value vs the face value of the coin itself). It might soon be worth more than the face value of a zinc dime at the current rate.

It will, but likely only after a dollar collapse, at which point there will be no other option. Why do you think international banks and governments buy and hold so much gold? They know what they don't want you to know.

The original system was that the government had nothing to do with paper gold and silver notes. Private banks issued them after you deposited your gold and silver there. Sometimes they also over issued notes, which is why they made it a Federal system instead, but that's even more likely to fail than a private system. What they should have done in response to banks over issuing notes was to prosecute the directors for fraud and throw them in jail. That would have put an end to it.

Me? No thank you.