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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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Or, a Canuck.
amen
I thought the French have surrendered already?
"If my kid were a country, he'd be France."
Hahahahahahaha!!!... Priceless!!!
This isn't the first commission whose purpose was to study a return to the gold standard. Just how many do they need? I'll believe it when I see it. I'm still not voting for Romney.
The first page is always tough to read on a thread like this, there are too many replies and each one is 3 words wide by 40 lines long.
The Republidipshits are obviously starting to get nervous about Ron Paul supporters, and rightfully so. They want small government, but they want to look in your bedroom. They want to decrease spending, but they'll inflate the military. They want lower unemployment, but they'll support bailouts and central bank policies. They love the Constitution but they have no problem with spying and indefinite detention. They believe in freedom, but outlaw plants like hemp, even for industrial use.
They are a gaggle of fucktardial hypocrites (made that up).
Start with that and then work forward...
I didn't wade through everyone's responses but, did anyone think that this might be another fishing expedition to see if the masses would be eager to lock up those who hold/use gold?* Banks would "give" their gold to govt, gold that they probably got via zero interest and free fiat, and continue with the next scheme. And those who were shorting all this shit (the average person holding PMs) would be smacked down. Yeah, it happened before, though perhaps not exactly the same, but close enough.
* Bankers = BAD; Bankers have gold/PMs; Holding gold/PMs is BAD.
The trick is that you bring focus by bringing in the energies of the supporters and then you use that to set the stage for slaughter. Do we not learn from history?
Well, yeah, of course. If it's published in the FT, it's a ploy.
It's a red herring, or another example of in the box thinking and reactive stratagems, or some reflection of a meme already dying on the vine.
A better first step would be to move the functions of the Federal Reserve to the US Treasury, start with an audit, then re architect the way money works as described in Modern Monetary Mechanics by the 5th Federal Reserve in Chicago to incorporate a commodity backing and redemption of FIAT notes held by US citizenss only per a % of reserve requirements.
As a person who loves my country I am appalled by the current strategies put forth by Romney and Obama, our Senate and Supreme Court who clearly are not acting in the best interest of our country from a sovereign perspective or care for the common or elite on anything that may persist over time and give us a better chance to evolve without hitting the wall.
Meanwhile I will just keep on doing well for myself, my family, my companies, community and country.
Thanks for your consideration and thoughtful reply.
For what it’s worth.. Certainly 314 pages might be just too much information.
William Engdahl
Recycling Petrodollars
http://www.newyorkfed.org/research/current_issues/ci12-9/ci12-9.html
Eight Islamic Sects Meet in Saudi, Can They Make Amends?
I was 19 and managing a Conoco station in 74 when the embargo hit. We never ran dry as they were still pumping big in Oklahoma; my director got shot in his car on a robbery of a bank deposit. I started packing a .38 snub nose and ran the daily deposit to the bank a few miles away every day. Ponca City never lost a deposit on my duty: $10 to $20 K/day. At the time I could easy crank out 5 – minute miles with my boots on. They fired me when they found out I didn’t have a car and was running about as I did with all the cash. A local competitor scooped me up with a big raise and upgraded my pistol to a .357, we both went to the bank together in his car for deposits he often bought lunch. Conoco hired a new manager with a car who didn’t pack. They got robbed a couple times in the next few months.
I still like hanging with people who are not subject to hegemony of any docterines or sects.
Thanks for the memories.
,
You are the Man!!!!!
Superb reading thanks. This guy says the same things I have said here; but he takes us much further back; all the way to the origins of Pax Britannica!
The intersection of the money, MIC and Oil lines explain the past century and the rise of current NWO, or Pax Americana; this has been my own experience.
William Engdahl is a historian who knows his story in minute detail. The background details are awesome.
I loved Anthony Sampson in the 60-70s who brought my attention as University student to the Corporate scams and their internecine linkage with Big Politics; aka Seven Sisters and Arms Bazar etc.
His investigative reporting was superb. But Engdahl takes it much deeper.
Of course the Engdahl narrative ends before the current 2008 crisis, but explains everything to the non initiated. Kudos!
Quickest way to a reset? Vote Obama. Why are we kidding ourselves that anyone can stop this train? Better that we push the pedal to the metal now, and get this derailed instead of dragging it out for another 20 years.
Einstein said; to try the same experiment over and over and hope that it will produce a different result is stupidity. You have tried Obamination; it didn't work. try something else. If you don't, you will have a long time to regret it.
A gold pegged dollar in 2013? That train left the station many years ago. The moochers that vote for the self serving/crooked politicians would not be happy at all with a gold pegged dollar. Government would have to start and act responsibly. Gold would realistically trade at somewhere near $50,000 per ounce. Entitlements would need to be reined in so severely, the country as we know it would no longer exist.
Maybe not such a bad idea, though. The Republics of Texas, Montana, Wyoming, etc... could and certainly would annex and/or purchase for pennies on the dollar the states that are enslaved to the entitlements. After the smoke settles from all the bankruptcies and civil unrest, a gold pegged dollar sounds great.
"He kept us out of war" - Wilson '16
"I will not draw the United States into the European War" - FDR '40
"I will not send American boys to Viet Nam" - LBJ '64
"I will not pander to China" - Clinton '92
"I will not engage in nation-building adventures" - Bush 2000
"I will close Guantanamo" - Obama '08
"Sound money" - Romney '12
I have two words for y'all:
Gary...Johnson...(Libertarian candidate for Prez).
Just another Khazar trick to disenfranchise Ron Paul's base. Just another fascist lie. Republicans destroyed the gold standard in order to wage wars of aggression. To go back to the gold standard would mean an end to American fascist wars of aggression because the Suadi would end up with all the gold. You cannot wage war and pay for it without borrowing money. Guns or butter? If butter was chosen the gold standard would be viable. Constant war and fiat currency cannot be sustained.
Utterly baffling. The only way it might make any sense whatsoever is if the Obama-ites and Chinese both are seriously considering following Europe's lead and calling for a worldwide coordinated Tobin Tax on both currency transactions and many derivatives transactions as a way to blunt the power of the HFTs.
Faced with that kind of threat, Romney and his Strong Dollah backers might conceivably offer to convene a new Bretton Woods to come up with a world currency standard tied to Gold in return for the Tobin Tax-ers backing off.
As a campaign ploy to get more centrist Republicans and conservative independents to vote for a very distasteful Romney-Ryan ticket, vague promises of supporting Gold won't do it, IMO.
What MIGHT bring in more of them is a very strong pro-Energy plan, based on not only drill, drill, drill and pipelines getting built, but also on a push for LNG, CNG, and improving passenger rail, including high-speed rail. This last should be embraced by the GOP as an important tool in luring Americans away from their automobile dependence.
This is a red herring. Ron Paul is a fraud. Until the ability of the banks to issue unsecured credit and 1:1 asset to loans is enforced a gold standard is worthless. The same fraudsters are still able to create credit out of thin air and pretend its true asset backed capital.
RED HERRING
RNC and GOP and Republicans are bought and sold for by the Banksters.
Ron Paul the rare exception and he was marginalized and ignored.
sumo_sam right above ya sez he is a fraud, eb
i think you are both correct and a bit off, too
paul is not a fraud imo; he is a party hack; but he is not a fraud; people don't like that he attracted a LOT of brilliant followers and didn't dare to step outa line, too; fuking bummer, rilly, imo
i said lastSummer @ the "ceiling debate" going into the 8.2.11 "legislation" that rPaul should: swing for the fences with the fiscal problems of the US and step forward decisively to offer to lead the nation against the fuking bankster interests
the #0ccupy was afoot and he still just played along with the GOP old guard and enjoyed helping with the committee-work and fundraising
i supported his candidacy myself after i got in dialogue with one of his follwers who was actually willing to take me seriously ; he certainly WAS the best man, but he certainly WASN'T a serious candiate; he was part of a clown show; unfortunate, but not un-true
and now we are at the crossroads which has been ahead of the GOP all along: trying to get theJuice of an independent thinker like rPaul behind a neoCon CFR-vetted billionaire like mittens
talk about dissonance!
gold & solver coinage IS legal tender in the USA b/c i stand for thePeople's m.o.n.e.y according to THEIR Constitution. i promise this to you
let's fuking hear it toy-boyz! shit or get off the crapper!
i will lead a parade for the first one of these moronic puppets whose handlers have the 'nads to make howdyDoody orPinocchio say these magic slewiePlankTM words of love: gold & solver coinage IS legal tender in the USA b/c i stand for thePeople's m.o.n.e.y. according to THEIR Constitution. i promise this to you
i recently made this offer of support to either and both candidates on zH; and, i'm waiting to see if either one of these asshats can think straight and possibly even lead...
...i'm sure yer weed is pretty good too, eb...
They're as serious as a bunch of clowns. They're just fishing for Ronnie Pauls voters. If Mitty gets elected he'll just pull a leveraged Bush and turd the country even further into the sinkhole.
still, one of these 2 party candidates will win
if mittens simply adopts this plank and campaigns on it and it alone, he will be elected
prez0 could probably even start legislation before the D convention if he had a chat with timmah and the benzelbub and dialed it in for himself
these CFR BiCheZ are such anal control freaks and super-paranoidal psychotic aggressives tho... somebody really ought to take these fuking moronic arch-asswipes on one of the daze, if ya ask me...
night-night!
Return to a gold standard!
What's needed is a return to a food standard.
Purely republikan propaganda.... Oh the Humanity.......oh the Gold standard is going to steal from your standard of living Kommrads....... seriously guys this shit has been over. Even the Gold standard solves nothing if you allow Banks to Loan deposits instead of Contractual lending agreements such as CD's. There is no market anymore...seriously, if TSHTF you will not be exchanging your gold for goods and services.... Gresham's Law was right about that at least .... hoard fuckin spam, bullets and guns... that is all that will matter in the end... laws matter no more.... people like to believe, but they don't understand that this whole sham is based on their ignorance and blind allegiance to what is going on....Gold solves nothing. There has to be political change that enforces laws and that which uphold justice in every part of government.....Debt has to be private and private only, this is the only way that we can move on.. Bridges, roads, schools for children of unwed mothers, that's the price of uncivilization.....until we start cutting the nuts off of deadbeat dads and unfit mothers aka whores that will sell their pussy for an additional 20% per month to any willing seed or whore government willing to subsidize it.....we will be doomed to an eternal damnation of people that want everything yet contribute nothing.... and to all you reverse racists out there Fuck you!!! There are many white people out there that fit this description as well.. They deserve equal chastisement for their utter laziness and lack of willingness to do the "tough" jobs....I can speak from experience to doing manual labor so I have the unique privilege of seeing both sides of the equation... so another fuck you to you critics that call jerking yourself off in academia hard labor....
"back to the gold standard,..?" Think not, too late and futile, we need total and complete paradygm shift towards clean cheap renewable energy.
Red herring.