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US to Gold Standard

Discussion in 'Financial Cents' started by Ganado, Mar 28, 2018.


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  1. Ganado

    Ganado Monkey+++

    oil pan 4, mysterymet, Zimmy and 5 others like this.
  2. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    @Ganado Oh! I missed that but saw China and Russia which all knew would happen soon and the reason they have been hoarding gold. I imagine a few others will soon follow. I can't see how the US could possibly return to the gold standard, especially given we don't have any. LOL! They will fight tooth and nail against it. I would expect that should the world return to the Gold standard then prices will go up, especially on imports.

    Can you keep us informed since you seem to have your thumb on the pulse and this is extremely important.

    Current gold price is still around $1300. $1345 today...
     
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  3. oil pan 4

    oil pan 4 Monkey+++

    I already looked into this years ago, if the US returned to the gold standard the price of gold would rocket to 3,000 to 5,000 dollara an ounce. Unless they do it in some alternative way, like offer some special limited edition gold backed paper.
    I don't think it will go through, bankers rule the land here, if you don't believe me then why is something like 70% to 75% of our GDP financial services?
    I just sold 3 ounces of gold bars at $1350 monday. Mainly because I want coins.
    So knowing my luck it will pass some where, Russia or here and sky rocket the price.
    China going on limited gold standard, Russia probably doing it and the US thinking about it; $1300 gold even though near a 3 year high may be a good deal.
     
    Last edited: Mar 28, 2018
    Motomom34, Bandit99 and Ganado like this.
  4. ochit

    ochit Monkey+

    I think we should go a multiple standard like aluminum, copper, gold, silver and platinum all of these metals are a cornerstone of manufacturing of electronics and the future is going to be flooded with robots and gadgets galore why not have a solid base on mining smelting and trade our country needs to be a leader in synthetic fiber nano technology STF STL super fluids super magnets and hyper cooling tech. and our money need to be soild material not sandwich metals that are basically worthless. We have nothing if we do not make our children understand that their future is technology and their ability to create and control it as of now the number of Americans that have the talent education and IQ is dismal we have to import our great minds and they create and take it back or steal it wile here using the H1B visa otherwise known as the genius visa. we allow way to many foreign exchange students here as all colleges are the forefront of technology engineering and the military complex that is why weapons and systems look familiar it is either a copy knowledge exploitation or a direct effect of intellectual theft.

    It is high time we do what China Russia and many countries do IQ test our children and then send them to boarding schools to keep them engaged with others they can build each other up not leave them in our version of the educational Siberia where they are chained to the least capable students in the class.
     
    Last edited: Mar 28, 2018
    mysterymet, Zimmy and Ganado like this.
  5. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Yeah, but the IMF's SDRs will be global money before the US goes to gold IMHO.
     
  6. Cruisin Sloth

    Cruisin Sloth Special & Slow

    WAY late for that , kids need to get out & play & and let their minds develop without V-games & our BS steering .
    This will take 2 gen sets to be up with the rest of the world.

    Sloth
     
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  7. Ganado

    Ganado Monkey+++

    IDK if it will go thru, I just thought it was a good thing to watch
     
    oil pan 4 likes this.
  8. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    "if the US returned to the gold standard the price of gold would rocket to 3,000 to 5,000"
    I think this is a given because there just isn't enough gold in the world to accommodate world trade. I was looking at some oil import/export numbers yesterday and 5,000 might be way too low...

    I think it is safe to say that something is definitely happening. It cannot be a coincidence that China then Russia and now even the US is talking gold. No, I don't believe in coincidences this severe.
     
  9. ghrit

    ghrit Bad company Administrator Founding Member

    That explains the existence of petrodollars. I cannot, for the life of me, understand why world trade cares if it deals in petrodollars, petropounds, petrorubles, or petrorenminbi. Or even something else, say petrotonnes of volcanic rock. There are higher and better uses for gold (or other PMs) than as backing for a fiat currency, no matter the origin. One obvious example of higher and better is electronics.

    For sure, something is happening, nationalistic stirrings for one thing. My first thinking along those lines is that those stirrings are OK as long as it is limited to within the borders.
     
    Last edited: Mar 29, 2018
    Gator 45/70 likes this.
  10. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    I find it very annoying because, in truth, no matter how hard I try, I don't quite understand it. A long time ago, a colleague who was a graduate from Amherst in Economics told me, "Economics is something of a Black Art for we really don't understand completely what makes it work." I suppose he is right because every time I think I finally have a grasp of it there is another variable that loosens my grip and I am back to square one.
     
    Ganado likes this.
  11. ochit

    ochit Monkey+

    The only thing I like about new coins are pennies, they make easy batteries with some vinegar, cardboard and a bit of knowledge.
     
    3M-TA3 likes this.
  12. oil pan 4

    oil pan 4 Monkey+++

    That $3000 to $5000 an ounce number was from back around 2008 to 2010, was the last time I saw an article like that.
     
    Motomom34 likes this.
  13. Cruisin Sloth

    Cruisin Sloth Special & Slow

    Pennies are Zinc & electroplated copper anodized ., Poor battery unless you can get between the copper & Zinc .
    More in the line of 10 -12 K
    Well the petro dollar (USD ) was made so everybody needed to convert to the USD & deal in a USD per USG Barrel of oil (Not even 45 gals of it in USG) So now it will float with Gold AU and Silver AG , That means
    Venezuela, with world's largest reserves
    can be sold & get gold , not worhless USD that USA has printed into nothing !!

    China & Russia have been buying gold for sometime ., and 10 years ago plus they told all there folks to buy AU & AG in savings also .
    I will be living in a depressed over .GOV stealing country with pay to play @ inflation prices , OR the IMF/FED/SWAMP/Bankers system is kicked out. Know any banks that are solvent ?
    Sloth
     
    Ganado likes this.
  14. ghrit

    ghrit Bad company Administrator Founding Member

    Whether it's a dollar, a ruble, a riale, a peso or a bucket of rocks, the idea is having a medium of exchange. Could as well be a pound of a standard sand. As long as the traders agree on the relative value, trading happens. If one entity corners the market on a particular product, they can charge as much as the market will bear. Supply and demand rules the market regardless of how the paperwork is structured.

    The oil traders agreed upon the value of the dollar somewhere along the way. Now, that does NOT say that there wasn't some arm twisting going on, especially since (at the time) the US had the market well under control in terms of demand and by passing out a convenient quantity of medium of exchange could influence supply. Fair? Someone else can make that call.

    If, as now appears possible, at some time in the future, someone else controls the supply, they can charge what the market will bear, AND they can insist that the product be paid for in any medium they want to use. (In the case of oil, it is also more than possible we won't need it, by some strange happenstance we might figure out how to make solar or something else work.) The rest of the world (and us) will adapt to the "new" medium or do without the product. Or, the interaction may take place by swapping one commodity for another at an agreed exchange rate. Who needs natural gas? What have you got to exchange for it? Oil? Coal? Now the negotiation starts.
     
  15. Cruisin Sloth

    Cruisin Sloth Special & Slow

    Nope , I don't buy that crap Ghrit .

    You buy most of the OIL , Trees / wood & power Electricity from Kanada to feed USA , so as your dollar has been hammered down since the last few years, and just this year even worse , Kanada has been taken down as well , Were still at .75 /1USD ,

    BUT FOR REAL !! We have the least debt of many country , resource rich & way less folks on the dole plus.

    So when dealing with USA , all will loose . NOW with a gold standard & the Banks-errs can't control the free market ( just look at the BS Stock market , true PM will out-do the paper BS gold , & AG plus.

    The world want's out of the USA Petro & it's already on . Where is fort knox gold & lets do a FED audit !!

    Busted !!


    Grego here is a future stock trader that I follow :
     
    Last edited: Mar 29, 2018
  16. Ganado

    Ganado Monkey+++

    [grouphug] you actually understand why this is significant if it goes thru... love your sharp mind... and you type like i do.... like you dont know what you are talking about .... hehee.... brevity isnt always good but sometimes its just easier. xoxox
     
  17. ochit

    ochit Monkey+

    [​IMG]
    a video
     
  18. Cruisin Sloth

    Cruisin Sloth Special & Slow

    @ochit
    Did you see the old lady on the coppers ? From his speech , I'm saying an Auzi & maybe they still use real copper 100% .Canada no longer uses copper pennies or just pennies . More taxes since they round up.
    Im pretty sure your pennies are made in winterpeg canada at the coin mint . Canada makes coins for many country's
    Zinc alloy is what many are made from now . Auzi has New Zealand just across the pond & they are CU rich in mining .

    Sloth
     
  19. ochit

    ochit Monkey+

    i just think if we have smelted reasonably pure coinage the metals market world wide would keep our economy stable paper money is quick to wear and has no intrinsic value, but pure metals do. this may also keep inflation in check as metals do not all move up or down in sync.
     
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  20. Cruisin Sloth

    Cruisin Sloth Special & Slow

    In Canada , the Copper penny was costing 3 cents per to make . More than its value NOW . When I was a kid 1 cent could buy me a gum pack or a few treats , 5 cents for a soda / pop . Dad could get a beer for 10 cents .
    Canadian FIAT is 5,10,25,100,200 cents in coin & in plastic bills 5,10,20,50 ,100 THATS IT ! We did have a 1000 , but they pulled that Bastards , was nice to travel with in belt bank .
    My coins are Junk style , to stagecoach breakable AG , & then brinks bank with the CC adjoined .
    I pulled most fiat out this year and transferred into brinks ,all but booze & girls accounts ;)
    Taxes & interweb bills :) ..
    Sloth
     
    Motomom34 likes this.
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