Date: 08/26/2010
Channel: Fox Business
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Hey bitch – bring him back in 3 years, play the tape from this show, and see if he was right or not.
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Where did this chik get her GED?
There should be a minimum requirement b4 being allowed to speak to the Dr..
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Hey Dfens,
Now which is it…. “we have no gold” OR “we have 147 Million oz of gold”
It can’t be both, well maybe it can be in your world.
They way I see it, that 147 Million ounces of Gold belongs to the American People and should be PHYSICALLY distributed to everyone who has M2 money, cash, demand deposits (checking or savings) and cash equivalent accounts estimated to be $8.4 Trillion FRNs aka Fiat Dollars.
Again Dfens, Which is it, Do have 147 Million ounces OR Not??
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Amazing! The one time you won’t listen to what Ron Paul has to say. At the very most we have 150 million ounces and I doubt that number is correct to within a factor of 10. Even if we do have that much, it’s worth less than a trillion dollars even at today’s inflated prices. That ain’t spittin’ in the ocean compared with the number of dollars that are out there. It’s less than our annual federal government budget deficit and less than our annual trade deficit (thank Ron for that one). So what are you going to do, borrow some more money so we can go on a gold standard or socialize all the US gold mines?
You’ve got to have gold to go to a gold standard. We don’t have gold. We don’t have silver. We don’t have sh*t. We’re broke. What’s the mystery? At this point we’re better off stockpiling steel, copper, and aluminum — because you can make weapons out of that and take someone else’s gold.
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Defens,
What part of DEVALUATION do you not understand?
We are not talking a “factor of 10″
Its a far greater factor, a FRN is worth only 0.0009 of a Gold Treasury Dollar
The US Treasury is minting Gold Eagles in $50 Gold Dollar unites per ounce.
Therefore the ratio is 147M*50 / 8.1 Trillion (M2 estimated base) = 0.0009
A massive devaluation / DISPOSAL of ALL Fed Reserve Notes
In exchange for Gold Treasury Dollars and an END to the FED
The 0.0009 factor would be the common denominator for all FRN denominated assets. However the current “$50″ face valuation on the Gold Eagle is absurd since gold has a much greater natural rarity commodity value and would have to be set at $5000 / oz.
Therefore at that exchange rate your $235,300 (avg home price) would become $21,351 gold dollars if an ounce of Gold became $5,000 Gold Treasury Dollars.
Thus the current “Peoples” Treasury gold would be the new basis GOLD standard
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Your (erroneous) concern about the quantity of gold is allayed in paragraph 15 and following of the article in the link below. Read up.
http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/#
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I liked the article, especially the point that gold coins should be minted and circulated by “weight” and not given face value.
Thereby currencies and gold will drift toward their respective equilibrium states naturally and without Government coercions/manipulatoins.
Ron Paul has sponsored a bill to allow “competing currencies” that would permit citizens to use the currency or commodity money that represents a secure store of value.
The assumption being that the people would choose the most stable currency and discard the fiat paper. However a fundamental reform would have to be that “the people willingly reject government coercive subsidies”.
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By your standard, we are on a gold standard now. I can buy gold bullion at market price for a given weight now. I can buy coins the same way. Whoo Hoo, we’re on a gold standard! Except this time it’s a gold standard for feeble minded. Now let’s start defining all our problems away.
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The way I see it, Ron Paul is only advocating a gold standard as an INTERIM step, to stop runaway government spending and debasement of the currency.
His vision is competitive currencies. One can be backed by gold, another by silver, yet another by platinum or palladium.
But each of us has the CHOICE of which currency they wish to trade in.
Even if there is a gold standard, Ron Paul would NOT advocate the US treasury storing all the gold backing the notes in Fort Knox. He’s against centralised control.
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Honest lovable straight shooter RON PAUL! The do it all representative that fights the good fight and never gives up!
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What was done under roosevelt is that they manipulated the public, took their gold, then it was sold cheap to bankers after which Roosevelt bumped up the price of gold and then these guys made a killing selling and reselling gold and silver as it happens, with each twitch of Roosevelt’s manipulation of the prices. The elite stole from the American people and then got rich selling what they stole – under color of authority. IMHO, that’s what’s about to happen again.
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they bring ron paul on to try to make look crazy, but all he ends up doing is turning the tables on them by speaking the truth!
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The US Federal Reserve Bank is the largest Terrorist Organization in the World. The US Federal Reserve is 100% a privately owned and operated business. Why not sell War Bonds instead of borrowing money from a privately owned institution US Federal Reserve? If Americans really wants to go to war to steal natural resources from developing nations they can but War Bonds.
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If Ron Paul made clear that his policies would prevent rich people from staying rich for generations he would get a lot more support.
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Its not if there is gold but what it is being used for.
Ron Paul is right but he needs to ditch like a rock into a sewer these 9/11 liars (truthers) there are some evil people behind them who just want to gain power by using the 9/11 (question of how the towers where destroyed, should we not consider that since the Binladens build & demolish buildings they would not know how to bomb the twin towers as well as the plane strikes).
We should produce to the maximum social benefit.
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I have a question about inflation vs debt and was hoping a fellow Austrian Economist could help me out. I constantly listen to Ron and Peter Schiff as well as read Misses and Rothbard but am slightly confused as it relates to how the inflation problem on the horizan corresponds with our personal debt.
If hyperinflation or very strong inflation is on the way… yes we want to own commodities but why not submerge ourselves in debt (maybe even to purchase more commodities)? I understand everything comes with a risk … but I am confused when, for instance, Peter Schiff promotes buying gold and silver but says stay away from home ownership and debt. If hyperinflation was to hit… and 100k was then worth a loaf of bread… a 100k fixed interest rate mortgage on a rental property may be a good thing right?
Now if we consider hyperinflation doesn’t set in but we get strong inflation.. how would it work out? I agree that home prices still have a ways to come down, but who cares if I’m not selling for 20 or 30 years. By that time the value of the dollar would be much less and so would my debt on the home. Yes the home market is screwed up and still higher that true market values but when we start experiencing strong inflation… all prices go up right ?
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Have pondered this myself. Am not strong on LvM, but…
On the one hand, it seems that locking in a fixed (mortgage) payment has the effect of keeping stable the cost to the purchaser, and inflationary policy would devalue the debt like you say.
On the other hand, it was the advent of stretching out the ownship of a home to 30 years, i.e. the mortgage (among other things but for this discussion, mainly), that drove up their prices; the easy credit enabled after 1913 can be blamed for this.
Perhaps Schiff eschews debt as a matter of principal.
Sorry if I sound convoluted or elementary.
Cheers
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Hyperinflation is NOT EQUAL to high inflation.
High inflation = increasing prices.
Hyperinflation = loss of faith in the currency.
High inflation can be caused by (persistent) increases in aggregate demand, or supply side shocks.
Hyperinflation occurs when the ‘market’ for a currency turns on its head overnight. When no one believes in the ‘full faith and credit’ line anymore, that’s when hyperinflation will occur. It’s like in 2008, how ‘liquidity’ (cash) was freely available up to a point, then literally overnight all overnight funding was stopped cold (see Lehman Bro, Bear Stearns et al). Up until that very day that overnight funding was stopped for these companies, it still seemed like they would pull out of the crises fine (with some losses).
Much like the US government right now, looks like it will be fine with its high debt load, high deficits. Until its not.
Remember, each 1% interest rate increase increases the INTEREST on national debt by $280 BILLION a year (roughly). And don’t kid yourself, the government HAS to roll over 100% of its debt. So while Bernake et al are trying to say its still ok (ie. believe in US T-bills and treasuries), and the US Treasury can borrow at low interest rates, the national debt is being racked up to a tipping point where even at 0.25% interest, will consume most of the budget.
Imagine you have a credit card with $1m you owe on it. Even at 0.25% you owe $2500 a year in interest.
What if you only earn $7500 a year, but spend $1m a year. To ‘prevent default’ the bank extends your credit line to $2m, also at 0.25%.
After another year you now owe $2m, $5k a year in interest, you still only earn $7500 (your interest payment has now gone from 33% to 67% of your income).
Now imagine if you interest rates goes up to 2.25%
All of a sudden your interest bill is now $45k a year. And you’re still earning $7500.
Is the bank still going to list your account as a ‘AAA’ rated loan? You’ve given them your ‘full faith and credit’ statement as collateral.
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Libertarian 777
I’d suggest that its not even that complicated….
A simple tests is that most Americans have NO SAVINGS because the currency inflation makes it impossible to save for a rainy day.
We have been FORCED to Live on CREDIT and we live paycheck to paycheck. A condition similar to a farmer being forced to eat half of his spring planting seed every year in hopes that next year will be bumper crop. But one bad crop year and he’s wiped out and so are we.
As a debtor nation, we’ve eaten ALL of our spring planting seed and are now reduced to begging our world neighbors for their planting seed.
The FED has us, the American Citizens, just where they want us, as feudal serfs living from hand to mouth on the land and property they’ve mortgaged to the hilt.
Just examine the small American farmer being squeezed out by Big Agra Business with lucrative CARTEL relationships with Big Government. Monsanto is leading the way to a total monopoly on the hybrid seed market where EVERY farmer MUST buy Monsanto seed or else risk law suit and ruin.
Hugo Chavez and Barrack Obama are a great team, squeezing the last remaining wealth from the nation to create the Perfect Totalitarian State.
Stalin did the same to the farmers in Russian in the 1920′s and millions died.
How soon we forget the history of Socialism’s Dismal Failures and we are so willing to repeat them again.
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Simply in a free market, or any market, when a recession or depression starts, just lower government spending, and lower taxes on the people, so more money can be spent on the market. But remember, key is lowering both spending & taxes, so you dont print money you dont have causing lowered value of the dollar. Plus, Ron Paul is correct, we do need a gold standard again.
RON PAUL 2012!
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You know some of these anchors just look like fishes out of water. I mean the more sense this guy makes the more you see these anchors respond with” but.. but.. but.. but. if they were just play devils advocates it would be one thing, but they aren’t, they are clueless.
Ron Paul :” 2+2=4″
Host: “but, but.. but.. but…”
Ron Paul: “Let me try this again since I got too technical for you, 1+1=2″
Host: “but, but.. but.. but…”
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This Fox News twit says she has been to the New York Federal Reserve Bank and “they show you the gold.”
Whose gold did they show you, bimbo!
The New York Fed holds the gold of more than 100 foreign countries and international organizations (e.g. International Monetary Fund).
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Has anyone noticed that during the race for the White House ’08 that alot of the “mainstream media” and alot of politicians made fun of the good Dr. about the fed reserves and following the constitution but now they are talking about it? If obama was smart he’d apoint Dr. Ron Paul to a high position or follow his advice!!!
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I am a guy from Holland, and tracking the events that are happening in the USA and worldwide for a several years now. I am really glad to see that the people are waking up and understand that there is an elite group controlling all the key positions in government and banking kartels(read FED), and also the mainstream media that is trying to keep the people from the truth.
I’ve been researching the US (shadow)government and their agendas, and the banking system as well. It went wrong in 1913 with the FED act. by the run for presidency by Woodrow Wilson.
There has been many staged/false flag operations to push their goals of world domination in the hands of the few(NWO), taking away our freedoms step by step under the pretext of “security”(also in Holland, EU). History repeats itself over and over again, but NOT anymore!!!
I am convinced that “we the people” will defeat the current regime, and change it to something good. Ask questions , demand answers!
Good luck and love to u all,
M.Janmaat
from Holland
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This lady really perpetuates the dumb blonde stereotype
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Fannie and Freddy should have their doors closed. It’s a Liability to our Government and its holders as We The People!
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i wanna know where the gold at haha
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I wonder if the bleach has affected her brain.
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Fear factor described above prevents lots of ‘joiners on’. See? ridicule and legal battles are tremendous. And when you think about it it IS foolish to fight them legally. Why? Because you pay your own lawyer out of your ‘income’ and you pay for your opponents liars oops lawyers out of your TAX dollars. And believe me YOU PAY.
That’s why Ron Paul’s rEVOLution at the college level is so critical. Students have little to ‘lose’ and everything to GAIN from seeing the light of austrian economics.
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RON PAUL 2012
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Support Ron Paul’s audit of the FED! Also lets get some other states the kind of state run bank that North Dakota has! It’s our Money, we get to decide what goes, not them!
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They would never let the kinds of Ron Paul and Dennis Kucinich to rise up and lead us from the front, they won’t because the majority of the people won’t let that happen, most of us are brain dead (I wish our brains were washed from filth) but yes we are brain dead, don’t see it happening in my life time, makes me sad of living the life of a slave under these ruthless pharaohs
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Ron Paul is amazing. Listening to him makes me hopeful of our future. God bless him and the United States Of America!!!
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free markets are a radical idea? but out of control printing of money that is not backed up by anything is just dandy….wtf
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http://dannymendlow.wordpress.com/2009/12/22/the-reality-of-the-economic-crisis/
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Ron paul 2012
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Good luck auditing the Jew Gold. They always keep a fake bag of gold to throw you off track.
http://www.southparkstudios.com/clips/155015
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FRED…
NO— It’s Americas Gold confiscated in 1933.
So cut the NAZI “jew gold” crap FRED!
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Maybe the Almighty Ron should tell his followers to eat a vegetable every now and again. They seem to be very irony deficient. If you can’t laugh at Cartman, who can you laugh at?
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RON PAUL FOR PRESIDENT ! yes to the audit, yes to getting rid of fm&fm,and stop the printing press!
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Merchantilists.
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Typical Libertarian: Let’s go to a gold standard! Let’s go to a gold standard! That will fix all our problems. Duh, what do you mean there isn’t any gold?
You’d think between the fawning and the mewling just one of the faithful would ask their Ron, “what are we going to do to fix the economy now?” Nah, that would require some independent thought.
So they have one card left in their economic tricks sack, which is the unilateral elimination of all American market protections. Apparently that is one more right states gave up to the federal government that the federal government has decided not to do, just like protecting our borders from illegal invaders. Only Ron Paul is the worst of them. He doesn’t want the US Congress to abdicate their trade responsibilities to some treaty organizaiton like the WTO or NAFTA, he wants Congress to unilaterally stop doing its job and leave our markets open to attack from any and all foreign governments or multi-national corporations. He’s not a corporatist, he just votes like one.
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Amazing how talking about free markets and individual responsibility is considered radical. I need a drink.
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we should audit our gold , why not ?
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If its our gold than we should be able to audit it at anytime. It is amazing we haven’t audit our gold for that last thirty years.
RON PAUL 2012
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Simple minds will reduce RP arguments to greed. The underlying philosophical argument is something that individuals have to desire for themselves. Don’t make arguments you can not back up.
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I want the gold! Gimme da gold!
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Fellow Citizens, 8/28/10
If we Audit the Gold, we may be shocked that an ounce of gold is really worth somewhere between 10,000 to 15,000 Federal Reserve notes.
Please note I deliberately did not call them “Dollars”!
These are “notes’ of fiat paper, barely worth the paper they are printed on and soon American’s will wake up an realize they don’t want to hold them anymore because they will no longer represent the “good faith and trust of the American government”
I personally look forward to when the US Treasury
DECLARES that the gold and silver coins, that it already minting annually, to be LEGAL TENDER!
And the Federal Reserve will fold like a cheap lawn chair and we can burn those FRNs for fireplace kindling.
In God We Trust
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Citizen, American Gold Eagles, American Silver Eagles and Gold Buffalos ARE legal tender.
This is why they have a value stamped on them (as opposed to gold rounds, e.g. Krugerrands, which are NOT legal tender in the US).
Gold Eagles/Buffalos are $50, Silver Eagles are $1.
So, much like if 1933 had to happen again, the government would declare that you have to surrender your gold and silver at FACE VALUE, and then they would issue you paper notes in exchange (this actually happened in 1933/34). Then they change the face value of coins and sell this same gold back to you at a higher dollar price.
Some guy did try to use the actual legal tender laws against the IRS. Not sure the exact details (didn’t read the legal briefs), but his conviction doesn’t seem ‘right’ on the face of it.
http://www.fff.org/blog/jghblog2009-06-03.asp (original acquittal)
http://www.lasvegassun.com/news/2009/aug/14/jury-convicts-business-owner-robert-kahre-tax-frau/ (conviction)
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Hello Libertarian777,
It’s a small world… my brother-in-law W.Cohan defended Robert Kahre during his first and second trials and he was acquitted on all counts. However the Government would not be satisfied that a jury found Kahre innocent of the charges.
So the IRS fabricated new charges and went after Kahre a 3rd time and finally got a jury of “useful idiots” to convict Kahre, after all he’s a Tax Cheat.
NOW the real truth of the matter. Kahre paid his employees in gold eagles ($50 Dollars) and silver eagles ($1.00 Dollar) as you mentioned. The recipients paid their Taxes based upon the “ENGRAVED” values.
But the Government argued, and convinced the jurors. that the engraved value was not the real market value and that the recipients of the gold and silver owned the taxes on the MARKET BULLION VALUE of the Gold and Silver, thus they defrauded the Government of its rightful taxes!
NOW, WHICH IS IT????
If these US Mint coins ARE Legal Tender, then we should pay taxes based upon the ENGRAVED VALUES. Ergo a Gold Eagle is $50 Dollars, and I can pay my top employees $50 a week and they should pay taxes on that value and NO MORE.
But if they are not Legal Tender, THEN the government can not claim Face Engraved Value and confiscate the coins based upon that lame argument. Therefore they are worth their Bullion value in the Free Market place or roughly 1,300 “Federal Reserve Notes” (NOT DOLLARS)
Again Which Is It???
Based upon the Kahre conviction… it must be the Bullion Value, since Kahre and his cohorts paid their taxes on the Face Values.
So are we be Damned if we do AND Damned if we don’t .
Sure we are, it’s the US Federal Government, they change the rules on a whim.
God Bless Ron Paul for holding a “Standard” of Law that’s consistent and honorable!
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I already told you what would happen if we went to a gold standard, you true believers don’t listen to anything but what you want to hear, do you? That 147 million ounces of gold number I got was from the Lew Rockwell website. Don’t you even keep up with your own Libertarian propoganda? Let’s go to a gold standard so we can all be instant millionaires. It would be just like winning the lottery.
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I even did the math for you in this one. Let’s go to the gold standard! Yeah right! Let’s surrender whatever pitiful amount of gold we have left to the Communist Chinese is what you Libertarians really mean.
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Dfens,
I think you’re finally “removing all doubt”
Return to a Gold Standard would be a MASSIVE DEVALUATION of our currency.
We would NOT become “instant millionaires” as you say, the polar opposite would occur.
Using your 147 Million ounces of gold number and converting them to cover the current estimated M2 Money Base (cash & demand deposits)
A Devaluation of the Fed Reserve Notes FRN would likely result in
1 FRN = $0.00086 Gold Treasury Dollar GTD thereby the Avg US
House of 235,300 FRN would drop to 10,063 GTD
Car of 22,350 FRN would drop to 955 GTD
China Debt 739BILLION FRN drops to 632 Million GTD
Japan Debt 634BILLION FRN drops to 543 Million GTD
AND NO
We would not
“surrender whatever pitiful amount of gold we have left to the ChiComs”
But more importantly,
We Libertarians would eliminate the FED, the principal reason of having to DEVALUE the Currency, thereby eliminating the source of the Government COUNTERFEITING operations.
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The value of bread relative to the value of gold does not change just because you adopt a gold standard. A loaf of bread is 2/1000′s as expensive as an ounce of gold either way. You can go to a gold standard in one of two ways. You can split the gold evenly among the dollars that are in circulation, which in our case would vastly devalue the dollar, or you can only partially cover the dollars that are out there. If you partially cover the dollars that are out there to maintain the dollar’s current value of 1/1225 ounce of gold per dollar, then you open the door for a country to whom we owe trillions of dollars, like your buddies the communist Chinese, to walk in and take every last speck of gold from Ft. Knox. We owe them $7 trillion and own less than a trillion dollars worth of gold. You can be a true believer, or you can wake the hell up. It’s your choice.
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Hi Guys;
I’m going to see if i can interject a little bit of reason here.
Dfens, i share many of your concerns about a commodity based currency, as currency is after all nothing more than an artificial means of exchange in order to facilitate trade for useful production and services beyond the local barter level. I think if it is to serve this function and promote such useful exchange to the maximum extent we are capable of creating it, then i think we need to have the ability to create and manage this artificial means of exchange according to our ability to create the useful things it is intended as a means of trade for, in order to make it do that.
Citizen, i understand both your and Ron Paul’s affinity for gold and a commodity based currency as well and i suppose that the difference in our perception is that you want the currency itself to have value, while i simply regard it as a means of trade and place 100 % of the value in the useful production and services that it generates for the population. Nonetheless, should we manage to elect Ron Paul and should he manage to bring about such a currency, if it can managed to where it will actually perform its stated function and allow us as a population sufficient means of trade in order to generate the maximum possible level of real and tangible prosperity we are capable of creating for ourselves, I for one will be extremely happy. If it turns out that this is not possible, then i expect that those promoting the hard currencies today will also have enough sense and reason in order to look at Franklin’s example and examine the possibility of supplementing them with whatever we need in order to allow the currency to perform this function to the maximum extent that it can.
The problem is that whatever form of currency might be in use or may or may not work is not our problem today. Our problem today is that the United States economy has existed for far too long for the purpose of serving as parasitic infection that contributes nothing to it and they have reached the point where it are consuming so much of our productive effort that it is no longer possible for the population to sustain itself. Unless we as a population destroy that parasite first, before it establishes the absolute power it needs to prevent us from doing so, we will not even have a chance to discover whether a hard public currency, or a public fiat currency would best serve our interests.
Whatever whoever is arguing about here in terms of what would be the best form of currency for us, it’s simply a moot point until the power which would prevent us from using either in our interests has been eliminated and we as a population will have to eliminate it as its control over our political system is to the extent where it is absolutely impossible to accomplish by conventional electoral means.
I think that most debating both sides of the currency issue agree on one thing, and that is that whatever they propose needs to be created / supplied and managed by congress in the interest of America and its population. If we can all simply forget disagreements toward this end for the present and apply our efforts toward making it possible for something to happen, then we will have regained the control of the system that we need to at least make something happen according to the will and interests of the people.
I think we have come up with the means to it. I probably understand the mentality at work in the minds of the politicians who are complicit in this much better than most Americans, as i have already lived through the end result of what our politicians and banking system are trying to accomplish here. The single and only thing which is greater than their insane craving for power and their need to bully, control and victimize the population in order to make themselves “FEEL” like a great and powerful man or woman, is their fear of those whom they would make their intended victims and of what they might do in retaliation for this. This fear still exists even when they have managed to completely disarm the population and establish a socialist police state where the people are subject to the complete and absolute power and control of that state and they spend their entire lives trying to invent more laws to try and eliminate every single possible threat that any member of the population could pose to their power, no matter how small it might be, as their fear is just as constant and never ending as their craving for power and control.
The United States Government, has it in its power and has the constitutional authority at any time, to put a stop to the theft and fraud and replace our current currency and economy with one which is designed to serve the American population, as opposed to a parasitic infection which simply consumes their productive effort and resources up until the point where there is nothing left, as it always has within our lifetimes. The United States Government is living in absolute terror of the American population at this point, because they have not yet managed to disarm the population nor establish the police state where they can attempt to enforce the absolute power and control over them which they desire. The single and only thing we need to do at this point is increase this fear just a little bit, to the point where their fear of us becomes greater than their craving for power and their sense of obligation to the Banks for having put them into power and it won’t take much to do this, after which they will be acting in our interests simply out of their fear of us.
We all know this is what needs to be done and that it needs to be done first if any of us are going to accomplish anything else at all and i think we’ve come up with the simplest and easiest possible means to do this as well.
http://www.ronpaul.com/on-the-issues/fiat-money-inflation-federal-reserve/comment-page-21/#comment-126876
If everyone can just agree on this one thing and work together to eliminate the problem now before the power is established by the problem to prevent us from doing so, then once that’s done, we can be engaging in productive debate about what form of currency would best suit our interests, and learning from the results of whatever is established in order to make it serve our interests better. I promise that if enough people participate in this and we can continue to flood both our senate and congress with millions upon millions of these demands and declarations over the course of the next several months, we will have established the level of fear and terror we need to make it happen and we will have eliminated the power which would prevent us from making anything happen which could serve the interests of ourselves and our country as well.
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Howdy David and Dfens,
My point, We The People orchestrate a Currency Exchange…from corrupt FRNs to GTDs. FRNs would become obsolete (worthless) currency after a hard exchange date, and GTD would become the new currency
1 Federal Reserve Note = $0.00086 Gold Treasury Dollar
YES this would be a RADICAL Monetary Event that would fundamentally change the way the PEOPLE MANAGE their government, and NOT the way that it is now, the Government “manipulates” the people.
The FED (published) M2 money as a basis for the DE-valuing of the FRNs to exchange for the 147 Million Troy Ounces into Gold Treasury Dollars that would become the new monetary base. People would receive gold and silver certificates, “Payable to the Bearer on Demand” in either gold or silver.
There would be no more FRNs after a Date Certain. Talk about FLUSHING OUT all the world’s illicit drug money and counterfeit US FRN currency, I’d venture to say the savings would approach $3 Trillion of bogus FRNs out there now.
There is no need to replace M3 assets, with hard GTD since most US Assets would not become liquid over night because of a Currency De-Valuation. But both Private and Public Balance Sheets would be re-stated in GTD, to include US foreign debt, Bonds, T-Bills, etc.
But this entire exercise would be meaningless absent the End of GSEs, the FED, Freddy and Fanny. Essentially putting a complete stop to Government counterfeiting practices using Fractional Reserve currency manipulations.
David, I believe that “the people fear their government, thus there is tyranny”, and Dfens thinks that’s just fine, I DON’T think so!
As a Libertarian, I believe the Government needs to Fear the People, the Founders created Government to the SERVE the people and the Official Currency needs to be removed from future Political Corruption and returned to Sound Money FUNDAMENTALS.
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Hi Citizen;
Yeah this is good, and this is what we need to make happen now too, a complete reversal of everything.
A complete reversal of money from a means to establish power over us to a means for us to exchange the full measure of prosperity we are capable of creating for each other and you seem to have a lot of the finer details of this worked out as well. Also a complete reversal of the people living in fear and service of government to government living in fear and service of the people.
We have one enormous difference in America from the rest of the world where the final result of whats happening here now has already been established. In my former country and in the rest of the world, people have always lived in the fear and service of government, because they have never known anything else. In America people have experienced freedom, they know what it is and although the banking system and it’s government have been doing all that they can to make the people live in fear and service of them, the more they have done the more hatred they have generated toward themselves. The people have now been pushed too far and are going to react, one way or another, just as they have already done before and need to do once again.
During the course of the original revolution they were in the habit of carrying around the serpent flag with the inscription “Don’t Tread On Me”. From what i’m seeing on this end the same seems to apply today and its in that which we can place our hope.
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To go to a gold standard you need to have gold, not debt. We have debt, not gold. The Amazing Ron has 2 ideas for fixing our economy. 1) Go to a gold standard. 2) Unilaterally eliminate all protections from our markets. We have no gold. That leaves him with one option. Gee, I hope it works.
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Fellow Citizens,
A revived Gold Standard currency is No Panacea to be sure, but it would be a start in the right direction to fiscal solvency and restraint on this Government madness.
There are many other issues that are equally or of greater importance, but they can wait until We the People, restore the Constitutional Restrains to subdue this monster drunk with spending power.
Absent fiscal control of government, (End the Fed) there is little point in legislating new laws that will be ignored and obfuscated new legislation (Obama Care) by criminal minded politicians hell bent on their on personal get rich schemes at Tax Payer’s expsense.
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“A revived Gold Standard currency is No Panacea to be sure, but it would be a start in the right direction to fiscal solvency and restraint on this Government madness.”
Wrong, you Roonulans think the Gold Standard will fix everything, it’s your “silver bullet”.
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I thought their silver bullet was unilaterally disarming our trade protections by eliminating all tariffs without any reciprocity from any other country we trade with? Remember, Ron Paul isn’t a corporatist, he just votes like one!
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lmao
You are dumber than a box of doorknobs.
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Now there’s the kind of hard hitting reasoning we’ve come to expect from this website. Let’s hear from Ron the almighty himself on this one, shall we?
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he is just a very good person but the thing it is that Zionist can kill him
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ron paul makes me wish i was american.
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I would be a bit shock if he ever made it to the white house.
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let him on regular faux news you traitors . oh thats right just like in 08 your scared that the sheeple will catch on to him.
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Good job sir.
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If he runs again I will leave my job to campaign for him.
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We can have a housing market. It’s just going to have to contract because there’s a huge excess supply at the moment. Or we can keep building houses and public projects for which there’s no demand (the Keynesian approach).
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The mainstream media will continue to ignore the truth, the more Ron Paul shines and stands out against the rest! Not only do we have the mainstream media, the Federeal Reserve and the other government agencies that are terrorists, We also have to worry about the Drug Cartels, Gangsters, and the KKK and other hate groups that are domestic terrorists!
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What, there’s no gold at Ft. Knox? What a shock! So much for going to a gold standard. Suckers. So what’s Ron’s next great idea for our economy? Oh yeah, let’s unilaterally remove all protections from our domestic market and hope other governments do the same while we hope that peace and love and roses spontaneously sprout everywhere.
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And your idea to America is to continue to acumulate debts and more debts. Im proud of you, it seems that you are a very smart guy, now go ask for an loan at FR
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Hey Dfens,
You shall know the truth and the truth shall make you Mad as Hell!
I and many Libertarians SUSPECT that the gold is gone, that our government has squandered and frittered it away on Entitlement Programs and Imperial Wars. Most likely the FED of NY has it all in their basement now.
But NOW is the time to TAKE BACK the purse strings from our profligate Government and get our Country back to solvency and return to living WITHIN OUR MEANS.
End the Fed, Support Ron Paul!
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Dfens and you’re going to regret every decision that you make and it’s going to cost us a pretty penny including you and your life savings!
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Wake up America, there is no terrorism in middle east against the American people, the terrorism is inside your country like CFR, CIA, FBI, Federal Reserve, ABC, CBS, Fox, NBC, Tavistock Institute, etc, etc, etc…
Wake up and destroy this terrorists organizations and America and the World will be a free place to live.
This man is the only hope we don’t have much time.
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My dear Americans,
We all still remember Obama’s attractions for his “Change” and his “Yes, we can!” and crowds and tears…. What was that? Where that has disappeared without a trace? As I can see it by now it was no more than a campaign trick or otherwise he might have been so naive kid (??). We all were listening to what had turned to be a joke and deception of gigantic magnitude. Another bubble and burst attraction. I am really sick of it and almost desperately hopeless. Because there is only a tiny only “theoretical” chance that this Empire of Wall Street’s global domination, profiting from provoking and killing games could be somehow miraculously transformed to a peaceful US Constitutional Republic…
Sorry for not being optimistic. But if there is anybody in this country who can really seriously start this process, this is Dr. Ron Paul. Least we can do is to support him.
Dr. Ron Paul, in this world you are my very last hope.
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Ron Paul for President 2012!
Abolish the Federal reserve
Legalize Freedom
Restore the Republic
Save our Constitution
End the wars! (drug war included)
Power to the People!!
Ron Paul Revolution 2012!
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This is the only candidate in the race,who could help us regain our freedom from the tyranny of the banks and their yes people,(media,political operatives,academia etc…)
Highly rated. What do you think?
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The “rumor” is that our Government gave the FED ALL of our gold, confiscated in 1933, as collateral for all these years of Deficit spending.
The rumor says the Fed Reserve Bank of NY has most of the gold stored in its vaults and that much of it remains there as payment for US Treasury debt.
But no one really knows since an actual audit has not been conducted since 1965, when (rumor has it) the bulk (70%+) of the gold was missing.
Do we really want to know????
Thank You Ron Paul for asking the HARD QUESTIONS!
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