Posted on 07/08/2023 2:50:53 PM PDT by delta7
QUESTION: Do you think the BRICS would create a gold-back currency as proposed by Russia? SJ ANSWER: The Neocon has directed the Biden administration to remove Russia from SWIFT. Their single-minded goal is destroying the world economy, but they do not care. They think they will conquer Russia and China and dominate the world so they will worry about the monetary system afterward.
You have to understand that if the BRICS followed that directive and created a single gold-back currency, they would have to end any idea of international trade. This proposal is understandable given the hostility of the United States from the Neocons, who are now in charge. Congress is oblivious to what is happening, and the American public is arguing over Transgender destroying the family unit.
This is not some simple one-dimensional idea that we create a limited-backed currency. That will be DEFLATIONARY and, at the same time, promote civil war in the United States. Politicians cannot run for office, promising endless gifts, forgiving student loans, etc. You cannot have deficits. This would NECESSITATE the end of Marxism once and for all.
This idea of a gold-back currency requires political change on a grand scale. That is coming. Post-2032 will be a new monetary and political system. Before then, they are pushing CBDC, and they will restrict what you can buy or sell, and this is all to retain power because they KNOW they are losing it. But in the process, they are destroying everything. The people who voted for Biden had no clue that they were voting for a coup and the ultimate destruction of Western civilization as we have known it.
to remain as a hedge against the government. If they back the currency with gold, this time, they will be knocking down every door to confiscate it all. These Neocons have already divided the world economy in two. They think they will conquer the world. The enemy is within.
Have you conflated currency with money?
...a government could never create more gold backed currency without holding the commensurate amount of gold
A government need not concern itself with reserves if it uses currency instead of actual coins.
Actual money, Constitutional money, IS gold and silver, nothing else. Coinage Act of April 2, 1792
We have a system, we just need to get back to it and get out of the debt slavery we are in.
What is it about people having actual possession of gold and silver coins that horrifies the current day power brokers in this world so much?
That's a question we should all ask ourselves.
See 21. Since actual money IS gold and silver coin what is there to back up?
Is China going to start demanding we pay them for all the trillions in imports, with gold? (Indirectly)
If so, this could COMPLETELY change our entire trade policy, immediately.
One month…
No idea, but the Brics announced they will start a gold backed system in their next summit in August. Do be aware Moscow announced they are starting the Moscow International Gold trading to work with China’s Shanghai gold market.
The best part “ to expose the corrupted US COMEX and Londons LMBA markets”……it will be a glorious day when the US is exposed as having little gold left…..we already know the LMBA is scrapping the bottom.
Prepare accordingly.
.Gov managed to spend a fortune of money they did not have in WWII.
Gold did not stop them.
History is your friend.
To back a multi quadrillion dollar global economy it would take a LOT of gold.
———
You mistakenly assume there will not be a global financial crisis. The amount of unpayable debt the US and EU ( the West) holds is the largest on the planet….
I do believe the US’s “ advertised” gold holdings are a fraction of that….they will be exposed, but we shall see.
No. It doesn’t matter if there’s a crisis. There will still be a multi quadrillion dollar global economy.
Here’s the basic fact gold backed addicts refuse to acknowledge:
90% of the economy doesn’t even involve cash anymore. The economy is all 1s and 0s moving around with nothing printed, and therefore nothing backable, involved. We CANNOT back 1s and 0s that we have no control over. You can print backed money because you can control how much money you print. You can’t back money that just poofs into existence, mostly without government control. I get paid by bits landing in my bank account, my bank loans out 90% of that with bits, and that buys something with bits, and those bits land in another bank, and more bits and more bits and more bits.
The fact is once fractional banking was invented backed currency became a LIE. And once fractional banking become computerized it became a DAMNED LIE. And people wanting to go back to the LIE are dumb.
But it doesn’t. Because how much money the government prints doesn’t matter. We have fractional banking, and it’s computerized. The government doesn’t even make most of the money in the economy anymore. Gold reserve was a lie. Wanting to go back to a lie is dumb.
No. You have to lose ALL OF IT. Forget the gold. Gold backing is a fiction anyway. The real determination of money is the Big Mac Index. You want to know what money, any money, anywhere, any time, is worth. Look it up on the Big Mac Index. McDonald’s puts a lot of work into making sure a Big Mac costs a certain amount of the average labor of a person in the region.
And you’ll never prevent inflation or the welfare state. We were gold backed during the depression. It prevent $#%^ then and wouldn’t now.
The author is illiterate, yet, many will think the idiot is a genius.
“We were gold backed during the depression. It prevent $#%^ then and wouldn’t now.”
Actually, it did prevent a depression. The Great Depression was not caused by inflation, but by socialist programs FDR and his fellow socialists created. Even the stock market corrected quickly, within days, but the socialist programs were meant to create a dependent class of poverty stricken people.
Don’t blame gold for the depression, it did its job just fine.
“We CANNOT back 1s and 0s that we have no control over.”
Actually, you can, but you’re just too ignorant of that system to understand it.
“Gold reserve was a lie.”
A lie that worked so well for over a hundred years the bankers wanted it dead.
“McDonald’s puts a lot of work into making sure a Big Mac costs a certain amount of the average labor of a person in the region.”
Really? McDonalds should set the value of our currency?? Wow, you really do not understand the purpose of currency.
No. McDonald’s KNOWS the value of currency. Nobody sets the value. The value happens as people spend money and prices get set. Anybody who thinks someone sets the value of currency doesn’t understand how currency works.
It didn’t work well at all. Look at all the economic turmoil we had over those centuries. Or even when currency was gold. Plenty of crashes and depressions during that time.
No you can’t. Because we don’t even know where they are much less how many of them there are, or how they relate to our gold reserves. And your need to throw insults shows you know I’m right.
I didn’t blame gold for it, I said gold didn’t prevent it. And it didn’t. And FDR wasn’t even in office until the Depression had been going on 3 1/2 years. Now I will agree his policies made it drastically worse and longer. But you can’t blame him for it starting. And just because the market “corrected” doesn’t mean the damage to the general economy had been repaired. That market crash took the guts out of the global economy. Which is why it was still going on for FDR to make worse.
Maybe the author is referring to these: https://www.goldback.com/ ;-)
But it doesn’t. Because how much money the government prints doesn’t matter
You actually said that?
You don’t have any idea why we have inflation, why it ruined Venezuela and why we are headed for the same conditions.
That makes discussing the value of a sound currency very difficult.
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.