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Republicans Consider Returning To Gold Standard: Real Or Red Herring?
Stranger than fiction perhaps but the FT is reporting that the gold standard has returned to mainstream US politics for the first time in 30 years with a 'gold commission' set to become part of official Republican party policy. While this could simply be a reach for as many Ron Paul marginal voters as possible (with the view that the GOP would never really go for it); it appears drafts of the party platform from the forthcoming rain-soaked convention call for an audit of the Fed and a commission to look at restoring the link between the dollar and gold. The FT, citing a spokesperson, adds that "There is a growing recognition within the Republican party and in America more generally that we’re not going to be able to print our way to prosperity," but "We’re not going to go from a standing start to the gold standard," although it would provide a chance to educate politicians and the public about the merits of a return to gold. Interestingly, the Republican platform in 1980 referred to "restoration of a dependable monetary standard", while the 1984 platform said that "the gold standard may be a useful mechanism."
The FT does its best to placate the hysteria and walk it back with:
A return to a fixed money supply would also remove the central bank’s ability to offset demand shocks by varying interest rates. That could mean a more volatile economy and higher average unemployment over time.
But we remind readers of the actual lengths (and volatilities) of economic cycles over time (as per Deutsche's Jim Reid):
...we think that the three ‘super-cycles’ between 1982-2007 were the exception rather than the norm and existed largely because of a near 30 year secular global decline in inflation that transcended the business cycle.
...every business cycle threatening incident was dealt with using aggressive intervention. This led to more and more confidence in the ability of the authorities which coupled with lower and lower interest rates increased public and private leverage to previously unthinkable levels.
One could argue that the most recent three 'Golden-Era' mega-business-cycles are 'unsustainable' fiat-driven monstrosities. The business cycle appears to be naturally shorter but we have centrally-planned it by creating more and more debt since 1971 - perhaps a return to the gold standard or hard money will increase the frequency of recessions but they can be projected and planned for and managed - as opposed to the cliff-like plunges and bubblicious thrusts of their current unsustainable experiment.
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Interesting, but what about Greshams' law? Commodity money will never be as abundant as Fed notes and thus crowds out the less avialable money from common usage when present...
Value is not governed by quantity, it is governed by quality. Real bills are quality monetary substitutes, good as gold, since they are fully redeemable in gold & silver. There is no theoretical limit to how many Real Bills can circulate. Nor are they 'inflationary', since as long as they remain fully redeemable in gold & silver, their quality is that of gold & silver, whose quality is eternal.
Gold is King of Kings.
Everywhere you look, fiat has been adopted as the common "transaction token."
Dunno if you remember Trav777--he was an asshole, but he was correct about this one--people PREFER "bad money." If the masses cared one lick, there'd be examples of places where fiat hasn't been adopted.
Hard currency purists are a tiny minority. It's unlikely we'll ever wield sufficient power to convert others to our point of view. For the most part, hard currency will be seen as a very painful solution to a problem. It'll be escaped as soon as possible.
People don't prefer "bad money", they are just hopelessly ignorant. Do even you understand that the dollar is not money at all, but the (bad) credit of the central bank?
People treat the dollar as a quality monetary substitute, even though it has long been junk. That's the definition of a credit bubble. In the case of the US$, the biggest credit bubble in human history. The South Sea Company on steroids.
It's not like that. Because virtually everyone is POOR, they literally are never exposed to the distinction between "liquidity" and "capital."
The result is that the vast majority PREFERS liquidity. It's what "money" comes to be understood to mean.
This isn't semantics--it's the way people see and understand the world. It's rare for people who never confront these concepts in practice to understand them. As a result, the folks who really see what this is all about CANNOT win.
I suspect you know this deep down....that's why you call the ignorance "hopeless."
It doesn't matter; they are lying because it'd desperate times. Either Vote; or Die. I don't care, I can leave immediately for New Zealand; you can't. You better think twice.
No, a gold standard is a unit of measure that defines what a dollar is. Placing a currency on a gold standard does not by itself imply a monopoly, i.e. prohibiting alternative mediums of exchange, units of accounts or other stores of value. Whether competing currencies are allowed to exist is absolutely not an intrinsic attribute of a gold standard per se. Nothing prevents a gold standard from co-existing with other fiat currencies, silver-based currencies, etc. The "Elite" is not the same as "Institutions", institutions are needed but they should be curtailed in size and power.
If it came from the mouth of a politician...it's a lie.
It's really that simple.
Gotta shiny up that facade of integrity every now and then.
Hahaha....just try getting these fiat junkie humans off the stuff !! hahaha
Being on a gold standard would severely limit their ability to loot and control their constituents, so no, it's not going to happen. Ever.
Agreed, not going to happen ever...unless it is forced upon us.
Years of experience have taught me to never say never.
Can't believe the FT would print that agitrop. Romney is etcho-sketching an Austrian Economic POV now? Who appointed Bernanke? Ryan regrets now voting for all the Bush gov. expansion? US would be toast if it actually had to trim the sails. We've crossed the Rubicon, Let the metaphors run away! Ridiculous beyond belief... While we're at it, Ryan is what, a Pro-Life / anti-choice objectivist?
Ryan was FOR huge entitlements before he was AGAINST them. It's one of those nuance thingies.
http://clerk.house.gov/evs/2003/roll332.xml
So you're saying Ryan is the equivalent of Obama-Biden?
Ok, fine, at least he doesn't want to destroy the currency AND take away my gun...leaving me defenseless...against government Sherriff of Nottingham types and those crazy granny dive bombers in wheel chairs Ryan is shoving over the cliff at me...lol.
Derp derp herpy derp.
You bought too many Bloomberg sodas trying to make one Big Gulp?
I'll answer your question if you can find out how Biden and Obama voted on the Medicare D extension.
Fair?
No, I'll answer for you because you're incapable of answering a simple question...lol
>>>Obama and Biden are on the record as anti-gun.<<<
Dispute it at your peril.
And if we're going to play this political vote game, you'll answer why ObamaCare intends to confiscate 700 billion in current and future taxation >>>from MediCare<<< in order to even come close to having it balance...which it still won't, without more taxation (which it does and will require more) and with less care (which is obvious) as doctors bail out (which they are even now).
You're up.
Obama was sold to t he muppets; he is the answer, to their dreams. Vote or die; it's up to you. No two candidates have the same program.
GIGO
Spoken like a 911 truth denier.
Horseshit.
Where is your gold then?
world war III here we come ...
... so we'll be offered $70 / Oz this time ?
Obviously a Red Herring , as the article says.
+ talk of Gold as Tier 1 capital from 1.1.2013
+ some BigBanks are now accepting Gold as collateral... be careful with that as well
just bought some to add to my meager stash
Buy all you can RIGHT NOW. I've considered selling a kidney...but that's illegal.....
I did lease half the farm. Hell it's just trees, and in the end, firewood.
(I'm a tree farmer, nice calm business.)
what amazing timing!! right before the republican convention!! as a said before, BULLSHIT BULLSHIT BULLSHIT!! romney is desperate to pull ron pauls votes.......many of us are going with gary johnson....just because rons sellout son rand has aligned with these sheep in wolves clothing, doesnt mean the rest of us will................i am saddened to think that there will be a certain percentage of RP supporters who are falling for this...........................KEEP YOUR EYE ON THE BALL.....AVOID THE BREAD AND CIRCUSES..................
Not necessarily. What they mean is the new digital "gold."
Best line ever ..."there's not enough GOLD " Benie B
Gold The Once and Future Money by Nathan Lewis is a great read and asserts that one key benefit of a gold standard is that it reconciles the obligation between the creditor and debtor through stable inflation. If money is borrowed at 4% but inflation is running at 6% the lender takes the hit. For hundreds of years under a gold standard, inflation was stable meaning loans were paid with interest with no worry about the inflationary effects upon the debt servicing.
red herring to get ron paul supporters. no way a politician will give up the power that comes with free money.
Also, this gold and silver going up is a classic pump and dump. Everyone in the gold camp is screaming "BUY! This is IT!" Even Peter Scheif released an emergency video; yet at the same time; no real new information has come out about QE, and CITI is forcing Paulson to sell 500 million mostly GOLD ETF backed hedge fund; maybe this is to help Paulson make good. who knows... Next week I expect a whack; or the time after Jackson Hole.
Maybe so, we will see. However my friend who's been in the gold business for 25 years called the bottom two weeks ago and he always calls the bottom. Gold has been down for a year and silver for a year and 4 months. When dejection turns to apathy that is when the bull move continues. It takes about that long for the non-believers to finally sell out so the bull can continue running lean. In any case, best wishes investing. I started buying gold and silver 6 years ago and have never sold any yet. I am still accumulating and any selling for me is years away.
Hi Wolfie
And DITTO
Never buy anything but Silver. In at $6.54 average; I worry about nothing.
Also, this gold and silver going up is a classic pump and dump.
Everyone in the gold camp is screaming "BUY! This is IT!"
*************
The gold camp is very small and what they say or do-means nothing in the big picture-
http://bit.ly/Ns08oU
http://bit.ly/RZXA1S
Until Cayman Islands account are closed and 27 trillion removed, we have nothing to worry about.
Forgive me for not getting my hopes up.
I dont' care if you get your hopes up; I don't even care if you survive or not. I'm going to survive, and my family is going to survive. That's all I care about. You can do whatever you think is clever.
the repugs don't have the ballz to take on the joo bankers
Would you nark out your evil bosses at the risk of your high paying, big graft, vacationland?
Reagan showed us responsible spending, how many deaths for unfunded contra funds, supplying Iraq with tanks only to destroy them with new weapons, deaths of over 175,000 Iraqis
Reagan is the devil, Bush is the devil, Ryan is a boot licking young punk who couldn't do an honest days work if his life depended on it, Romney is a blood sucking squid who will not release his medical records or his tax returns, and who outsourced and downsized with borrowed mony with leveraged buyouts only to make a quick buck and bury a good company, now he gets bank rolled by the wall street scum, Obama is the same,
As far as the usual waste of critical thinkers time with this spin bullshit, tell the campaign manager of Romneyhood to save his money and move the campaign donations over to the Caymen Islands, instead of wasting it on tv commercials. they can stick a fork in this election the day Romneyhood won the nomination over Ron Paul. Its a done deal Obama will win as he has many non productive blood sucking welfare cases who do not produce or pay taxes to insure Obama will get voted in again. So as usual the workers , myself included pay to keep the parasites and special interests and gubbament scum fat and happy. I am voting for Ron Paul I wish everyone else who works and pays taxes or did work and pay taxes would vote for him to. Of course the lobbyist scums will not like this idea.
Aside from the overheated religious imagery, I generally agree and see your point. I will vote for ron paul as well, but since I am in the worker's paradise Minnesota, the state will go democrat.
I have always told the republicans that "Not as bad as the democrats" is no way to lead the country, but they are very inwardly focussed. I do see some signs that folks are waking up to the fact that republicans have been colluding with the democrats and selling us down the river for some years now, and the republic establishment is losing some primaries and getting some pressure lately.
When you vote for Ron Paul, who is not on the ballot; you throw away your vote. This is criminal. It is precisely the time when men need to come to the aid of thier country. Vote republican and cause the overlords to blink and back down, because they didn't think you had it in you. don't be a fool.
"gold commission" = "controlled opposition"
see: http://en.wikipedia.org/wiki/Washington_Generals
Okay. I got it.
Now what part of "returning to a gold standard" would not first need to pass through or very close to; 1) Outlaw or limit private ownership of gold, and 2) buying up gold held by citizens at a nickel on the dollar? [EDIT: well a tad over $42 per Troy ounce is what the USTresury currently thinks you got coming.]
Not being a troll here. I just don't see how this is supposed to work out.
Oh and get this part straight right now people, after they force eveyone to disgorge their holdings at a massive loss, they do not actually have to put the country on the gold standard. They could just change their mind and give the whole fucking ass-load of physical gold to The Fed as collateral against all the useless UST they will have been forced to buy to fund the US budget deficits. Bernanke wants Congress to fix it? Congress just fucking fixed it.
I mean I can see about 50 ways this could go 100% absolutely completely wrong for America if the bankers and oligarches are the ones expected to suddenly "do the right thing" with all the god-damned gold in the god-damned nation. I mean ... Jee-zuz ... you have got to be kidding.
Why would they "have to" collect gold? It can be unilaterally revalued with respect to the dollar.
Fiat is FREE.
That is why, if I was hypothetically buying gold, I would hypothetically only buy maples, krugerands and the like, but no eagles. Such foreign-sourced gold could hypothetically be sold in a neighboring country, while eagles might become totally illegal after confiscation, even internationally. Hypothetically.
<snicker> I will be hypothetically keeping that in mind.
Right on chet.
I didn't possess a single gold eagle before my unfortunate accident...for that very reason ;-)
This might explain all the hypothetical boating accidents...If we had hypotheticly had any gold.
Long empty boat trailers.
Flotsam and Jetsam.....bytchez!!!
no-one reccomended that you be a fool. I have consistently tried to get people to put their savings in Silver. Silver will not be confisticated, but will participate in the upward "price" movement. What part of this is it that you don't understand?
and I love you and the check is in the mail. Back in reality, bankster on bath salts:
http://losangeles.cbslocal.com/2012/08/21/police-report-claims-deutsche-...
Well, "audit the Fed" and "study a return to a Gold standard". Baby steps, perhaps. Who knows - it took a traitor to his class (FDR) to get communism mainstreamed into US law, maybe it takes a Fraud Street prodigy to tell the Bankster Cabal to die in a fire.
Then again, this is The Stupid Party we're talking about.
Also, sending somethind "to study" is precisely the way popular laws not favored by the ruling elites get killed here in the Peoples' Republic of MA
Yeah, not getting one's hope up is probably well advised here.
Agreed.
If they want to "study" via some "blue ribbon commission" the possibilities of returning to the gold standard...go for it. Just so long as they take under "advisement" this new monetary base won't be coming from my boating accident.
I don't (and won't) forget being stabbed in the back a thousand times by the likes of Nixon or W with Pills for Seniors open bribery for votes and promotion of the CRA. Or Gramm linking up with Rubin/Clinton to kill Glass-Steagal.
If they want me to trust the national currency they better find some gold somewhere besides the citizenry, who they (and the dims) have already robbed and continue to till this very day.
I don't care how much bullshit comes from Tampa... I'm writing in Ron Paul.
I would consider that, but I can't get past the thought of 4 more years of stacking the supreme court with his minions.
http://en.wikipedia.org/wiki/Cloward-Piven_strategy
It just doesn't matter anymore. Vote for Dr. Paul or Gary Johnson. Just because.
This makes you "feel good"; in fact it is completely infantile. but, it makes your vote useless. Your vote will be thrown away. this is exactly what the powers are counting on. Wake up and vote Republican, forl the simplest possible reason, the Domocratic Candidate, is insufferable and will become more insufferable when he has nothing left to lose. Wake up, please. Your Vote is important.
The Republicans won't ever go to a gold standard, the corporations are too dependent on the Jewish fiat money.
Still, I'm not convinced a gold standard (which would mean gold confiscation) is the way forward. I don't know what the way forward is, other than to know that we have to collapse before getting there.
And destroy the military industrial complex and social security...
Yeah right....
The gold standard is and will continue to be the underlying final backstop for all other so-called monies. The GOP or any other entity that doesn't call for immediate repeal of all legal tender laws is just blowing piss in the wind. Only when transactions are legally made in whatever exchange the participants of the transaction wish is the gold standard exposed as the true backstop.
Seriously, I am required by law to accept a piece of paper as payment for a debt; how stupid is that?
That would be a good move. If not Gold at least a Silver standard.
if not silver, at least a nickel standard
Do you not like the baa baa rous relic then?
Now, lets audit the FEDs Gold holdings.
John : There's gold in the Federal Reserve. And they took a shit load of it. They are heading North in dump trucks.
Walter: Have you been drinking McClane?
The country is in a straight jacket, and whatever President wins will find himself with the same very limited set of options. The deficit will still be $1 trillion+, no substantial budget cuts will be made, and QE is highly likely.
Romney is actually in a similar position to Obama in 2008, pretending that if elected he will be able to do big things, when in fact he'll just be putting out the same fire that has been burning since 2008.
All very true, well put.
I would amend your comment only to suggest that whoever gets the office in 2012 will not have the same fire to put out as was burning in 2008. Rather they will by then have a raging inferno death-spiral into national default, collapse and ciivil war to put out.
But otherwise, yeah what you said.
Considering this news story which doesn't surprise me, I'd say no, republicrats aren't ready to return to the gold standard. Same ole crap.
Hopefully I will be right that this will be BB last term but that may be wishful thinking.
http://news.yahoo.com/romney-says-hasnt-considered-replacement-bernanke-...
Romney says he hasn't considered replacement for BernankeYou surely don't think Benron's replacement will make things better, do you?
Yes, I do. but then I'm not you, I actually know how to think.
An excuse for confiscation.
What they are really saying is that they will quit manipulating the price, make a few people who own big amounts VERY RICH, the rest who own any will thank the day they voted for them.
Things will still be fucked up.
Isn't it wishful thinking that anyone in Washington DC would have anything to do with standards of any kind?
Sorry, I don't believe FT or any MSM nonsense. If I want to read about a barbarous relic, I'll go to those blogs for the real truth.
"part of official Republican party policy" ? Hah, get out of town FT
the FT also ran the story, that the cftc was dropping their silver investigation.
Its obvious situation here is that since romney and ryan both supported the bailout and are typical republican big government statists, they wanted to throw a bone to we libertarians. For those of you who are new to politics, the party platform is a symbolic and pointless activity designed to give the grass roots party faithful something to do when there are no convention speechs to watch.
Having said all that, it is good in the sense that it at least gets more of the sheeple exposed to the gold standard debate.
Its exposure will be in order to ensure the idea is completely ridiculed as Keynes "barbarous relic."
Message: "We're smarter than those caveman gold-bugs."
As long as the average person (uneducated in economics) seriously brings up the ridiculous idea that "there isn't enough gold for it to be money." (which happens every time I try to state otherwise), well, let's just say we're not going to get far.
You may have noticed that the MSM is already busy using Ryan's views on Ayn Rand to smear Austrian Economics, and Mises.
Then there's the newest scumbag du jour, Max Keiser (who will never fool me again), who went total retard against Mises. Tom Woods has wiped the floor with his ass twice already, but it seems Max isn't smart (or honest?) enough to back off, let alone admit he has absolutely NO IDEA what he's talking about.
I'd like to hear what Tyler has to say about this, as Max is listed on his blog roll.
link to discussion ...
Max Keiser: Ludwig von Mises Is a Fake Austrian Economist
by Thomas E. Woods, Jr.
http://lewrockwell.com/woods/woods197.html
.
Tom Woods’ Blunders
Posted on August 23, 2012 by maxkeiser
http://maxkeiser.com/2012/08/23/tom-woods-blunders/
Milton Friedman liked bimetallism.
that sounded judgmental
What a pervert.
Two currencies, one for the ciminal banking cartel to fuck with, call it funny money or some such thing, they could keep score with it but it would not be allowed for the purchase of actual goods and services and another currency for the muppets, backed by something.
But the GOP supporting a gold standard, nah, I go with red herring on that one, a cynical ploy to get RP supporters under the tent.
Romney and Obama are both socialists, one with a fascist tilt, the other communist.
big picture: as rickards and others have pointed out (assuming the gold is still there) if the usa backed the fiatsco with gold, using m1, the 8000 ton gold figure and roughly $2000 per ounce, one gets about 18 to 20% backing. this is about what the backing was in the jan to march 1933 period just prior to the fdr tricks. remember, at the time just prior to fdr's inauguration gold was leaving banks in huge waves because a) banks still were closing (no fdic) and 2) talk of dollar devaluation.
at $8500 you get roughly full backing.
i'm game for a return to the gold coin standard. but there might be a nasty adjustment down in prices / deflation to adjust for the 100 years fiatsco game.
my numbers might be off a tad, but you get the general idea.
Just more fleshless bones thrown to the fodder---the speaker list is a who's who of the neo-con republican party--rice-mccain--sanitorium-j bush-------------- 3 days of nothing but droning propoganda twaddle bullshit--as a RP national delegate I get alllllllllll the special events and emails that outline the GRAND EVENT-----geuss what ,among my group, RP delegates are up in arms that I have stated if you want to send a message DONT SHOW UP !!!!!-------I submitted my non participation and will spend those funds were best needed--in my local community----some of these RP folks have even gone as far to tell me it was an honor to go to a National convention--my reply --you are apparently still infected -while stating where is the honor in war/murder/theft and destruction of societies---when you wake up let me know.
end of my commission
shameless last ditch electioneering that will
guarantee that if this message is propagated
in the campaign and the party wins we will hear
no more on the subject from the new administration,
now that is cynical but with a touch of realism.
everything becomes politics at this point, a smile
and a wave that is gone as soon as the train leaves the station.
Good news, good politics, no matter what happens. Anything that makes the FED lose credibility and power is a good thing.
Puts the issue on the table, raises public awareness. A shot across the bow to the FED, very timely. Will make future gold confiscation by banks much harder in the future and be legit cause for rebellion, sound money is a "human right," per Alisdair MacCleod (of the clan MacCleod). Indicates Ron Paul had a big impact.
When the economy really goes in the crapper (soon, very soon) the fetid Keynesian monoculture at the FED can be scapegoated and overhauled.
BTW, the Chinese might force a return to a gold standard and WRC, they're moving thata way. This might not be idle chatter.
Politicians will say ANYTHING to get elected. Listen to an Obama pre election speech sometime.
There is no faster way to crush the entire idea (in the USA) than to let the GOP run with it.
Brilliant move by the Modern Monetary Terrorists.
Such brilliant but twisted minds. If only we could somehow harness their evil for good. If only there were a way ...
Compost is all that comes to mind
if, what most of us think will happen, actually does happen, then it will be irrelevant what republicans, democrats or the government want with respect to a gold standard. the PEOPLE will return to a hard money standard and will use fiat to warm themselves by the fire.
Then again, we could continue to go the way of endless (digital) money-printing and QE from Da Fed. That's working out splendidly.
Wait... what? http://wapo.st/NjOYCM
Incomes have dropped more since the beginning of the recovery than they did during the recession itself...
(Right, from that charter-member of the Vast Right-Wing Conspiracy - the Washington Post)
#fail
This is stagecraft, like the Greek columns flanking Obama during his acceptance speech in BoomTown
Fun to think about, but only briefly because it will never happen.
Either someone has not been paid a visit and read the riot act from the puppet masters,
or
they have been paid a visit, are fully onboard, but are using the "commission" idea simply as a ruse for votes.
Far too many powerful people/entities/industries profit from the fiat system.
They wont let that happen.
Since the adage "he who has all the gold makes the rules" would still apply what difference will your "stack" make when they measure theirs in tonnage?
A stable money supply what be better achieved using finger nail clippings To back it since we all produce them at the same rate.
LoL! If the Republicans really wanted a gold standard, we would have one. The fact is neither party wants any currency that doesn't include an unlimited, blank check book. And anyone in either party better consider James Trafficant's 7 year prison term before telling anyone the Truth. Yes, the Truth is capitalized. Jesus is the Truth and this system of "I am your god" is an acient one. Wake TFU people!
The people in the "never happen" camp seem to not be reading where it says "Linked to gold". So they could have a partial backing.
The deal is, everyone is fed up with the dollar. Other countries are side-stepping it. Americans are moving toward using precious metals as currency (google AOCS)
This is their way of making it illegal to use gold/silver as a currency without paying taxes on it.
Shiny happy people holding hands. Gold and silver shine.
Drudge update: Romney reiterates replacing Bernanke.
Drudge update: Romney reiterates replacing Bernanke.
Drudge update: Romney reiterates replacing Bernanke.
Sorry, sticky key, didn't mean to shout.
Wasserman-Schultz is now saying (Romney on a campaign stop) implied he will draw & quarter Bernanke before seeking his replacement.
Still trying to get confirmation on this, she's hard to understand when her fangs pop out ;-)
Debbie W-S could be the poster child for government dental care. If she and Obama ever nationalize hair salons I'm just gonna let a predator drone get me.
The best unkept secret after this election cycle is she's toast as DNC chair and she's too damned stupid to see it coming...lol.
Maybe they should have weighed/vetted her intellect before they promoted her?...seems to be a trend ;-)
She is the poster child for birth control, even if it involves dropping a bowling ball on your nads. That is one bat-shit crazy Prog. I think she sounds that way because she sucked her way to the bottom of the party. I'd rather listen to a cat in a blender, fingernails on a chalkboard, and have a prostate exam with a two-man auger SIMULTANEOUSLY than listen to that haggish harpy spew...
Ron Paul will be part of the Romney admin. They are good friends.
The only way I could see RP getting on board with a Ro-money administration would be as Sec. of State or of the Treasury. Since those are meaningful positions, I doubt Ro-money would appoint him to one of them. Paul's foreign and fiscal policies are vastly different from those of Ro-money and O'bomb-a.
A better and more realistic scenario... Ron Paul agrees to be installed temporarily as President after the MASS ARRESTS put hundreds of top traitors to the Constitution behind bars and completely gut the federal givernment... http://tinyurl.com/cd5cyjo/
Wishful thinking.
House of cards... easily blown down.
I recommend a "reverse" gold standard. The government should mint all their gold into coins and then sell all of it to the people. The government can use the fiat and the people can use the gold coins as collateral.
That's going to more or less be the scenario after the MASS ARRESTS, the dissolution of the FED, the restoration or the Constitution, and other formerly-unthinkable events take place... http://tinyurl.com/cd5cyjo/
Bullshit...neither party wants to be forced into a sound monetary system. Can you imagine if something like this was actually implemented? How many seconds would it take until legislators did something stupid and people would start redeeming fiat for physical? How many seconds after that would they "temporarily" suspend convertibility?
Gonna spin you ZHedgers who're bugs right the fuck up...ready...Gold and Silver standard exists in the USA, send your Fednotes to a checking account, write a check for $45.95 OZT for Silver, or $1878.00 for OZT Gold plus $7.95 shipping to be paid to the US mint. Don't believe me?? Go to www.usmint.gov. Oh, you want the gold in FT Knox?? It's not ours, our govt officials traded Knox gold for the power to print T-bills, to be purchased by primary dealers, via the FED (thank FDR if this makes you happy, doesn't matter if it don't make you happy, it's just how it worked) long before most of us, Govt official and or US citizen, that're alive now, even existed. It's seen in FED balance sheets. The FED is a private bank that is the funding mechanism for USGov and evidently the largest holder of gold on the planet, after possibly the current collective family of one Mr Mayer Rothschilde, a coin dealer in the 1700s in Europe who was quite a smart, but admittedly maybe shady too, old chap, IMHO. Now you know.
P.S. I'd suggest you go, though, to the free market in your local area. Look up "coin" in yellow book/yellow pages. Go see if the free market can get you better prices than the Gov prices, I'm pretty sure it will!
Amen brother. People are waiting for the gov to solve their problems. Exchange your money for coins and stop waiting for political promises.
we'll see.
keep stacking.
I see what they're trying to do here. They're scared they might lose too much votes to Ron Paul & Gary Johnson this time so Obama may benefit from that. So they make people believe they care about fiscal responsibility, gold standard etc.
Not a bad trick Romney, but RP / GJ people may not be that stupid.
You have to own gold to have a gold standard. The Fed does not have any, that is not hypotheticed to infiniti already. So, let em eat cake.
Create a US treasury dollar and back it by the gold that is leased to the FED from 1933. Time for a margin call, once and for all.
Let the FED and its "notes" float on their own. Surely Bernak has all faith in his might piece of toilet paper called the Dollar. Let him have his printing press and stand on his own.
I am sure he can get an office at the BIS and run his private bank from there, and avoid being audited. Secret Private Bank running the money for our country. Come on folks, that is plain criminal, and we all know it.
The US needs its own currency. Not some fiant ponzi private nazi banker counterfeit crap. I will trade my Bernak TP for a US Treasury dollar anyday. I just hope I don't have to take a bullet to the head like JFK did, for the Team.
IMPOSSIBLE!
Romney = Obama= no gold standard = renewal of Fed's 100 year charter = continuation of the control of this nations destiny by the corporate elite.
Ron Paul = gold standard = End of the Fed. = LIBERTY.
CHOOSE WISELY America!!!
"Fascism should more appropriately be called corporatism, because it is a merger of state and corporate power." - Mussolini
Choose Ron Paul, or learn the Goose Step.
Don't worry, there won't be an election.
http://americanview.hubpages.com/hub/Can-A-President-Stop-An-Election
Hmm. I've only been hearing and reading that since - oh, I don't know - 1996, for every election.
Get a new gig. You suck at comedy.
They're fucking everywhere.
Don't bother to vote!!!...Diebold Decides!!!...Vote Gary!!!...Lay Down, Swipe EBT & Shut Up!!!...Civil War!!!
(Yawn)
They're considering aborting the FRN as fiat?
My thoughts: Endgame might be closer than anyone thinks. 100+ trillion in promised liabilities need to be defaulted on and Romney/Ryan may be TPTB best shot at breaking it to the impoverished masses. What better wayt to do it than to phase out the FRN and go to another fake quasi gold standard. The new paridigm would get the word out that their is no more money for free lunches for for all you losers but we will honor the old agreement with the old clown bucks. Good luck trying to strech your old clown bucks. The dollar is dying right now! They have to deal with the situation or lose all control. This also might help them deal with the coming default of the COMEX. If they don't have a plan then all the shit hits the fan and Mad Max world here we come. This actually makes sense. I'm sure the new "gold" dollar will be a joke too but it will still be 100 times better then the old Jew confetti we have in our wallets now.
Why not just handcuffs and orange jumpsuits for top traitors to the Constitution and street justice for the mid and lower level traitors? Does anyone remember the scene from Swordfish when Travolta exists the helicopter and gives the senator what he has coming to him? The MASS ARRESTS are coming. Sure as the sun will cross the sky, they are coming... http://tinyurl.com/cd5cyjo/
channel stuffing, fed style:
http://research.stlouisfed.org/fred2/graph/?id=XRCB
Vote pandering, I am sure the GOP will make prosecuting fraud a top priority just like Obama went after wall street, where is John corzine?
Stupid sheep.
"Stupid sheep."
you talkin to me?
Ewe talking to sheep?
You guys!... Stop it!... You're killin' me!... My sides hurt!...
varmint putang! paul delegates sold off for a gold standard mention followed by a gallery clap then the notion is gone. ran will receive campaign monies.
returning to the gold standard would significantly curtain the power of the financial powers that be - i.e. the FED RES, banksters, etc..... 3 former presidents didn't finish their terms of office because they choose to go up against the bankers - the first two incidents involved the 1st & 2nd U.S.Bank (Fed Res like forerunners - actually arms of the Bank of England).... the last time Kennedy didn't finish his term after he signed an executive order to disolve the Federal Reserve Board. Lyndon Johnson signed a retraction of that order as his first presidential act on the way back to DC (from Dallas back to Wash DC)..... coincidence or not ?
it sounds like a good political topic to rally the faithful, but implementing will be next to impossible with TPTB in the way....
"but implementing will be next to impossible with TPTB in the way...."
Why, we just vote 'em out, that what we do!
Oh, wait, you mean they aren't IN govt?
Hoping people start seeing the absurdity of trying to "fix" the System.
So this is what Rand Paul negotiated for in return for endorsing Romney.
How else would the banksters confiscate the gold.
Look no further -> FT British news Brown the worst PM ever who sold gold for less than $300 the ounce causing today the worst ever debt and deficit in decades...
Bring it on Republicans you are winning the elections this year -goodbye OBAMA
Sorry but the USSR opps I mean the USA is fucked. No leaders, no fucking clue, no lessons learned...simply fucked.
If anyone believes this is anything more than a futile attempt to lure a few weak-minded RonPaul supporters, they're incredibly naive. I figure this will add about 0.001% to their polls. Furthermore, no more than 1% of insider republicans would ever tolerate any restriction of unlimited free money and bailouts for their corporate sponsors.
if they go with the slewiePlankTM it is quite easily do-able and the first candidate to adopt this exact do-able idea into his campaign plateform will win the lection. guaranteed
not some other crap which we can't do now, tho
gold and silver USMinted PM coinage becomes legal tender (just re-affirm theConstitution really) and that would make a coupla "tax laws obsolete and some "sales tax laws" for small players only bullshit FUKING LAWS asswipe for the asswipes and
i would also like to see thePeople encouraged to use the USMints to coin their PMs
so shoot me!
AND as i have argued for a looong time here now, h _ann, under dodd/frank, i do think the FED would accept this under their primary job resposibilty to ensure stability of the fiancial (enonomic?) system; people can ask the chairsatan about it in his press conferences and at jHole; he will go for this; he has already told me so
you could use PM coinage to buy stuff and extinguish debt and not be penalized pour l'etat and the fiat fuking bankster cabal
for a change!
let the good money circulate with bad which has driven it "out" but at a tax-free fightClubTM currency; no handicap allowed!
no this is not a "gold standard" which is not do-able now and is as many here suspect, propaganda
but aren't negative rates an invitation we can not refuse? negative rates are asking for gold and silver to get involved monetarily are they not? isn't that a small voice saying fiat needs some real & boiler-plate-legal big-time help HERE & NOW?
this IS doable and the first candidate to stand before thePeople and talk this bullshit to them, will win the wHouse in nevember
and remember:> i quaranteened it! L0L!!! see ya!
i don't know what mittens and daBoyz are up to, to address tyler's headline question
but i have said here that slewie will lead a parade for the first candidate/party to adopt the slewiePlankTM into his.their campaign platform
and i've been talking about the slewiePlankTM here on zH for way over a year which may be why it is coming up in national politics
if you've been trained not to read my post b/c they are too long or i am "nuts" you will not understand what i, slewie, think should and could actually happen next
so since that may be most all of you brainwashed wing-nuts, look it up!
Thanks for the post, keep them long or short as the case calls for. I read em all before I comment and appreciate input as it helps me understand what people are thining about and why which has an effect on my views.
thxz yerself for considering my ideas and for the feedback
this isn't really rocket science but there is so much confusion from the parties and the "media" that few can think straight, especially here
95% of the people here would not turn off their TVs for 24 hours if their childrens' or grandchildrens' lives depended on it
which, of course, they do...
BREAKING:
Merkel and Hollande unite in tough message for Greece(Reuters) - Angela Merkel and Francois Hollande presented a united front towards Greece on Thursday, telling Athens it should not expect leeway on its bailout agreement unless it sticks to tough reform targets.
France, you have no money either. Don't act tough like you are some bastion of economic strength by posturing with Germany.
You are not Germany, nor ever will be. If my kid were a country, he'd be France.
Well, atleast he's not Ugandan.