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REPORT ABUSIVE REPLY
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Message Subject
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Is This The Big One? China Finally Admitting They Are Launching A Gold Backed Currency For World Trade?!?!?
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Poster Handle
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Anonymous Coward |
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Post Content
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So i'm still waiting for someone with more insight than me, to explain some of the potential ramifications, if we go back to a "stated" gold standard for the U.S. dollar.
What do you think will happen?
Quoting: Anonymous Coward 30264892 there is no US gold, it was given to the Fed. It's not yours, it's not ours, it is theirs and they dont care. I remember reading The Mystery of Banking by Murray Rothbard, and he stated that the Federal Reserve has (or had) rights to gold reserves in the United States saying whatever outstanding Treasury Bonds they held in account, in the event of a US default, they retained the right to an equivalent amount of US gold in reserve. Two things immediately come to mind: 1) Gold is still valued at less that $50 per ounce in Treasury accounting and 2) There is more gold held in reserve at the fed than in treasury warehousing (Ft. Knox). How much $$ does the fed currently hold in US Treasury bonds? The more they hold and the lower gold is valued, the more gold they can claim (per the agreement) when the US defaults. So, in effect the gold is already gone, the fed took it, meaning the banking cartel and its crony/criminal enterprise. . all you have to know is that the fed always does something clever with whatever it controls resulting in some occult fractional banking procedure, they are an inherently dishonest bunch, and defrauded billions simply by refusing to honor their own gold and silver certificates. What a pity the public has become so stupid as to think that lies and theft on a massive scale gone unpunished will stop on its own.
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