Posted on 06/25/2011 5:07:25 PM PDT by billflax
A gold standard provides more than mere sound monetary policy. The Left hates the gold standard for the same reason they think our Constitution is evolving, belittle Biblical certainty and denigrate tradition. The Left despises anything true, anything defined, anything rooted upon a solid firmament which limits their sophistic meddling. Gold is a constraint on government and a protector of property rights. Fiat money affords government the power to manipulate, hence the Left hates gold.
The article -
Not Just Another Article Espousing The Gold Standard
Tabletalk, a daily devotional my wife and I enjoy, once had a cover depicting a coin emblazoned with, “In Gold We Trust.” The theological implications of this parody on the national motto aside, America no longer trusts in gold. Gold is inanimate. It is neutral. We trust in government. A government no longer oriented by tradition nor checked by either gold or the constitutional limits public officials swear to respect and defend.
America has what’s known as fiat currency. We now trust in the fallible humanity occupying the Fed and Treasury. Fiat currency has opened the door to any manner of mischief. As John Locke warned, America has left herself exposed to “the inconstant, uncertain, unknown, arbitrary will of . . . man.”
Government, unlike gold, is not neutral. It is animate and the characters inhabiting it have their own designs, pure or otherwise. Public officials exhibit no qualms manipulating the currency to aggrandize government; invariably at the expense of the private sector.
(Excerpt) Read more at blogs.forbes.com ...
FReepers who mock gold as money don't stop to think what it would mean if we owned our money instead of just using it at the government's pleasure.
Gold reacts to oil. Everything reacts to oil.
This is why the commies are crippling our Oil Industry!
“FReepers who mock gold as money don’t stop to think what it would mean if we owned our money instead of just using it at the government’s pleasure.”
Amen to THAT. :)
Gold reacts only minimally and temporarily to oil. A 200 day moving average on the price of gold will tell you what the dollar is doing and what it is worth. Oil is a silly standard because its supply fluctuates. The gold supply increases at a steady and very low rate.
Gold reacts only minimally and temporarily to oil. A 200 day moving average on the price of gold will tell you what the dollar is doing and what it is worth. Oil is a silly standard because its supply fluctuates. The gold supply increases at a steady and very low rate.
Arguments in favor of the current currency regime seem more and more like someone’s conspiracy theory. Those sorts of economic theories are a shell game. Maybe a “rare earth/basket of precious gems” standard is better than a gold standard, but the argument is over whether you should limit the ability of governments to manipulate the currency. We definitely should.
I guess it would to the extent that the price of oil determines how expensive it is to mine gold. A pity we don’t have a coal standard.
Also why american commies are doing everything they can to inhibit the extraction of many multiple tons of GOLD and even more copper in the Pebble Mine in Alaska..
AND why they come against exploiting all the vast energy wealth in America..
And so far have been very successful..
I wonder how all of the gold bugs would react if the US did return to the gold standard, AND government seized all privately held gold and outlawed the ownership of gold again.
...I wonder how all of the gold bugs would react if the US did return to the gold standard, AND government seized all privately held gold and outlawed the ownership of gold again....
I suspect after FDR’s confiscation those holding gold are backing it up with large quantities of lead and brass. A lot of people have had enough of this lawless administration and one more thing will be the tipping/flash point.
Silly, maybe.
In DEMAND? Most definitely.
“Having behind us the producing masses of this nation and the world, supported by the commercial interests, the laboring interests and the toilers everywhere, we will answer their demand for a gold standard by saying to them: You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold.”
US Constition - Article 1 Section 8 - Congress has the power to COIN money and regulate its value.
Congress could in less than 5 minutes call for a vote to revalue the money that is minted at the US Treasury. A $50 Gold American Eagle Coin could be revalued to a new exchange rate of $100 Trillion Federal Reserve bankers debt backed notes.
All debts of US Government would then be paid off with one gold coin. The private Federal Reserve bank would then have all their paper money replaced with coins Constitutionally minted by the US Mint.
Just think at this point off all the debts of US Citizens which are valued by the banking system on Federal Reserve Notes would all get paid off because gold in the USA would skyrocket and married couples could sell their wedding rings and pay off all their debts and mortgages free and clear.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.