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Ron Paul: World will leave dollar unless we replace it with a gold backed one

 
Anonymous Coward
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09/21/2012 12:59 PM
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Ron Paul: World will leave dollar unless we replace it with a gold backed one
"If we act now to replace the fiat system with a stable dollar backed by precious metals or commodities, the dollar can regain its status as the safest store of value among all government currencies. If not, the rest of the world will abandon the dollar as the global reserve currency."

[link to www.examiner.com]
Anonymous Coward (OP)
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09/21/2012 01:02 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
What say you.
Anonymous Coward
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09/21/2012 01:24 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
true, when the dollar was started as the world reserve currency it was gold/silver backed
Drama King

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09/21/2012 01:49 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
Too bad the US doesn't have enough gold to back it. Doh.

To back your currency with gold....you need gold.

China and other countries have been demanding payment in gold for awhile now.

Last Edited by Drama King on 09/21/2012 01:50 PM
Drama King
Anonymous Coward
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09/21/2012 01:52 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
What say I? I say lol.

There is aproximately, grossly over estimated, $6T in mined gold above ground.

52% of that is in the form over goods such as jewelry etc.

That means there is roughly, still grossly overestimated, $3T in mined gold above ground.

There is an estimated $1.13T in US currency in circulation today.

That means, what is remaining of the grossly overestimated mined gold above ground, would be $2T.

THE US IS INDEBTED FOR $16T !


Chalk it up US... You are toast.
Anonymous Coward
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09/21/2012 02:13 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
What say I? I say lol.

There is aproximately, grossly over estimated, $6T in mined gold above ground.

52% of that is in the form over goods such as jewelry etc.

That means there is roughly, still grossly overestimated, $3T in mined gold above ground.

There is an estimated $1.13T in US currency in circulation today.

That means, what is remaining of the grossly overestimated mined gold above ground, would be $2T.

THE US IS INDEBTED FOR $16T !


Chalk it up US... You are toast.
 Quoting: Anonymous Coward 10097155


Unless gold becomes 8 times more valuable.
Anonymous Coward
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09/21/2012 02:37 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
What say I? I say lol.

There is aproximately, grossly over estimated, $6T in mined gold above ground.

52% of that is in the form over goods such as jewelry etc.

That means there is roughly, still grossly overestimated, $3T in mined gold above ground.

There is an estimated $1.13T in US currency in circulation today.

That means, what is remaining of the grossly overestimated mined gold above ground, would be $2T.

THE US IS INDEBTED FOR $16T !


Chalk it up US... You are toast.
 Quoting: Anonymous Coward 10097155


Unless gold becomes 8 times more valuable.
 Quoting: Anonymous Coward 24071979


more like 800x

Why?

1) Because the US does not own the held mined gold or the unmined gold mines available to be used.

2)How much gold is owned by the US, if anything at all, is a small piece of the pie. And the world will never know this will they?
Tiberius22

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09/21/2012 02:40 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
I have a communist professor. Apparently a gold backed dollar only helps out the elite and takes advantage of the poor. I think she slept with Obama?
Tiberius
PetGoneBad

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09/21/2012 04:54 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
A gold backed currency only helps the top 1%.

It would be highly deflationary and would make money harder to get which is bad for the lower and middle classes.

I recommend watching Bill Still's "The Secrets of Oz"
"I have always considered it as treason against the great republic of human nature, to make any man's virtues the means of deceiving him." -Samuel Johnson
"You can fool some of the people all of the time and those are the ones you want to concentrate on."- George W Bush
*Heisenberg*

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09/21/2012 05:00 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
A gold backed currency only helps the top 1%.

It would be highly deflationary and would make money harder to get which is bad for the lower and middle classes.

I recommend watching Bill Still's "The Secrets of Oz"
 Quoting: PetGoneBad


That is true to an extent....but we must change our course...and take the bumps that come along with that. If not we ALL will be in trouble.
Anonymous Coward
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09/21/2012 05:00 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
What say I? I say lol.

There is aproximately, grossly over estimated, $6T in mined gold above ground.

52% of that is in the form over goods such as jewelry etc.

That means there is roughly, still grossly overestimated, $3T in mined gold above ground.

There is an estimated $1.13T in US currency in circulation today.

That means, what is remaining of the grossly overestimated mined gold above ground, would be $2T.

THE US IS INDEBTED FOR $16T !


Chalk it up US... You are toast.
 Quoting: Anonymous Coward 10097155


Unless gold becomes 8 times more valuable.
 Quoting: Anonymous Coward 24071979


more like 800x

Why?

1) Because the US does not own the held mined gold or the unmined gold mines available to be used.

2)How much gold is owned by the US, if anything at all, is a small piece of the pie. And the world will never know this will they?
 Quoting: Anonymous Coward 10097155


If our currency suddenly was backed by gold, we'd soon find out just how much we don't have. Unless we take the keys away from the thieves we always give the keys to.

There is still a lot of gold to be mined in Alaska. It's getting harder to get to, but the price could make it worth it.

But, then there's the fact that while many other countries were fortifying their gold reserves and encourage their citizens to own precious metals, the U.S. has done nothing similar. Why is this happening?
train

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09/21/2012 05:08 PM

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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
"If we act now to replace the fiat system with a stable dollar backed by precious metals or commodities, the dollar can regain its status as the safest store of value among all government currencies. If not, the rest of the world will abandon the dollar as the global reserve currency."

[link to www.examiner.com]
 Quoting: Anonymous Coward 19980561


What makes you think that we have any gold?
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09/21/2012 05:33 PM

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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
Awesome...how many other countries use the "Gold Standard"?...or silver?....
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Anonymous Coward
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09/21/2012 05:33 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
"If we act now to replace the fiat system with a stable dollar backed by precious metals or commodities, the dollar can regain its status as the safest store of value among all government currencies. If not, the rest of the world will abandon the dollar as the global reserve currency."

[link to www.examiner.com]
 Quoting: Anonymous Coward 19980561


What makes you think that we have any gold?
 Quoting: train


Seen it on TV
SteamrolledGobias

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09/21/2012 05:37 PM

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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
rp/gary johnson 2012
Anonymous Coward
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09/21/2012 05:38 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
yeah but Ron, where is the fucking gold. did you find that in your audit of fed? it is so easy to bs it. Maybe we can have rand to have a new bill or something.
RAe
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09/21/2012 06:30 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
Well you can divide 1 single Troy Ounce of gold up among all USD and it'd still be more valuable than a piece of debt cotton
Anonymous Coward
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09/21/2012 06:46 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
RON PAUL WANTS LEAVE THE DOLLAR TIP TO HIS WHORE
shenandoah
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09/21/2012 06:48 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
"If we act now to replace the fiat system with a stable dollar backed by precious metals or commodities, the dollar can regain its status as the safest store of value among all government currencies. If not, the rest of the world will abandon the dollar as the global reserve currency."

[link to www.examiner.com]
 Quoting: Anonymous Coward 19980561


They'll never do it, because the gold reserves is ~gone.
Anonymous Coward
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09/21/2012 07:29 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
False Flags.. intended to stir up religious hatred.

Scare tactics by one Country to another.

Rhetoric after retoric to move audiences.

Complete Psyop!

In comes the NWO..


By stealing half of the wealth of the planet, the international financial institutions have forced the governments of the world into a corner where the only thing they can do is to continue to print trillions of dollars and pounds that there is no new wealth to back.

The whole system will break which will force the new One World Financial Authority to demand that everybody go back to pegging their curriencies to something of value, like a gold standard, or a mix or valuable item like gold, nickel and copper, but something tangible.

The United Nations will have taken control of the international trade in valuable minerals at a point in time that a New Global Financial System will demand that every country in the world participate using those resources to determine at what level they get in on in the new economy.
No Dhimmi
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09/21/2012 07:39 PM

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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
Thread: Forget the $- 1oz of Silver for 45 Acres!
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If Muslims & their apologists really want to cure "Islamophobia," here is an easy way. Focus their indignation on Muslims committing violent acts in the name of Islam, not on non-Muslims reporting on those acts.
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09/21/2012 07:42 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
The world is already abandoning the dollar... slowly, but steadily. We should have done something years ago, it might be too late now.
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Frobisher

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09/21/2012 07:44 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
They'll never do it, because the gold reserves is ~gone.
 Quoting: shenandoah 2636202


Exactly. The government would have to buy up reserves and that wouldn't go unnoticed. We could switch to an energy-based currency butm that's probably too 'sci-fi' for our government still, even though it's an idea that goes back to the 1920s....
I tread where even demons fear;
I go where eagles dare.
Anonymous Coward
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09/21/2012 07:45 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
A gold backed currency only helps the top 1%.

It would be highly deflationary and would make money harder to get which is bad for the lower and middle classes.

I recommend watching Bill Still's "The Secrets of Oz"
 Quoting: PetGoneBad


A gold backed currency only helps the top 1%.

It would be highly deflationary and would make money harder to get which is bad for the lower and middle classes.

I recommend watching Bill Still's "The Secrets of Oz"
 Quoting: PetGoneBad


BS, the current system allows the "elite" to print and create money at will. That shit couldn't happen with a gold/silver backed currency. The last I checked you can't "print" gold or silver. Neither can you fight multiple wars at one time because there wouldn't be enough money to pay for it. Also say good bye to all the billions in "aid" that is freely given out by our country to others. Sure there maybe some negatives of a gold standard, but the current system allows far more negative.
Anonymous Coward
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09/21/2012 07:47 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
Ron Paul is right. China knows it and they're making moves to replace the dollar as the most-trusted currency worldwide. No one should trust a currency where they just print up a trillion or so each year and it's only backed by promises of a government that's proved it has no honor or trustworthiness.
Anonymous Coward
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09/21/2012 07:49 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
A gold backed currency only helps the top 1%.

It would be highly deflationary and would make money harder to get which is bad for the lower and middle classes.

I recommend watching Bill Still's "The Secrets of Oz"
 Quoting: PetGoneBad


Also if a gold backed currency only favors the elite then why did THEY change it in the first place? Duh, because the current system helps the 1% 100 times better. This ain't rocket science...
DJDOG

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09/21/2012 07:50 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
"If we act now to replace the fiat system with a stable dollar backed by precious metals or commodities, the dollar can regain its status as the safest store of value among all government currencies. If not, the rest of the world will abandon the dollar as the global reserve currency."

[link to www.examiner.com]
 Quoting: Anonymous Coward 19980561


Truer words have been spoken (2000+ years ago) but he knows how to state a fact in 2012. 5 and a bump.
bump
Anonymous Coward
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09/21/2012 07:53 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
The Feds do a pretty good job to protect this from happening its already been tried before
Skin Suit

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09/21/2012 07:58 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
Awesome...how many other countries use the "Gold Standard"?...or silver?....
 Quoting: SHR


someone sounds mad they don't own a bunch of precious metals.


what's wrong with raising the bar on our current fiat?

at least we might be respected that we are printing toilet paper.
Skin Suit

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09/21/2012 07:59 PM
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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
Awesome...how many other countries use the "Gold Standard"?...or silver?....
 Quoting: SHR


someone sounds mad they don't own a bunch of precious metals.


what's wrong with raising the bar on our current fiat?

at least we might be respected that we are printing toilet paper.
 Quoting: Skin Suit


toilet paper backed by bars.

this raising the bar.
Kirk

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09/21/2012 08:04 PM

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Re: Ron Paul: World will leave dollar unless we replace it with a gold backed one
I have a communist professor. Apparently a gold backed dollar only helps out the elite and takes advantage of the poor. I think she slept with Obama?
 Quoting: Tiberius22


parrots like most true believers. Don't possess sufficient skills in logic to ferret the truth out. Most people aren't exposed to logic until university unless they read Doyle.
Really stupid. Everyone should have a year of logic.
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