04-19-2016, 11:27 AM
(04-19-2016, 10:24 AM)Benton Wrote: But that's the problem with gold standard. You know the dollar is going to be worth a dollar. It's an amount that reflects what other currencies are worth through exchange. It has a slowly adjustable value. Gold doesn't. Large investors can have an impact on it's value. They can't with the dollar.
I don't even know where to start here.
Gold will never lose its purchasing power. The dollar? Not so much.
The reason we abandoned the gold standard was so money managers could keep our nation in perpetual debt. The reason we have paper money is because it's easier to handle and that's ok. But it says right on the damn thing that it's a promise to pay a debt. I wonder what that means?
If it's just a promise to pay the debt; pay it with what? And how can we promise to pay a debt with a promise to pay a debt?
Fractional reserve. Look it up.
The Fed prints 1k and loans it to a bank at interest. But the bank is then allowed to loan 10k, all because they have 1k in real money. It's a god damn Ponzi scheme. That's our system.
-That which we need most, will be found where we want to visit least.-
