G O L D

Why did the gold-backed US dollar stop being backed by gold, silver, etc? Isn't it just pieces of worthless green paper now? Doesn't the government now have the ability to just create dollar bills at the press of a button?

petrodollar

Nixon replaced it with the petrodollar when Bretton Woods was about to collapse. Oil is more useful than gold anyway.

Greedy Banks... Very simple

it's long story. i guess start with nixon shock
it goes far back even, but there is the conclusion when combined with a couple of agreements that expanded trade and injected piles of cash all over the fucking world

((()))

>Doesn't the government now have the ability to just create dollar bills at the press of a button?
No, but the Federal Reserve, a private entity, does.

Id explain it to you but it's very long and comolicated finance.
Point is it's much better and more advanced this way.

This, the economy of debt, and American hegemony are why the gold system is not considered useful.

this.

Any why have we been to war in the middle east?
Iraq was selling oil in euros.
Iran has been selling oil in rubles.

that's racist

>Why did the gold-backed US dollar stop being backed by gold, silver, etc?
To allow the government to pump money into the economy and lower interest rates.

> Isn't it just pieces of worthless green paper now?
Yes, albeit backed by a manufacturing powerhouse and war machine juggernaut.

>Doesn't the government now have the ability to just create dollar bills at the press of a button?
Yes.

A gold backed currency means you must first have gold to create your currency.

I.e. you have to discover new deposits to print more paper.

Hopefully you can see how not being able to control the supply of your own countries money can be a problem.

It leads to vast devaluation and most agree was a primary contributor to the great depression.

"We can not crucify the American people on a cross of gold".

Asteroid mining will cause a massive drop in the prices of gold, silver, etc.

>yes goy, usury works best for everyone, have some debt
>don't question where money comes from lol
>gold and silver are but barbaric relics that is why we absolutely not manipulate them daily
>inflation stimulates the economy, it works in your favor
>no, LIBOR rates aren't for goyim like you how would we swindl... I mean serve your banking needs

Majority of international transactions are in dollars, especially oil trade. Like for example Saudis made a deal with US to sell their oil in dollars, and they sell it mostly to Asia and Europe.
So countries will always have a demand of dollar.
And it's all backed by US military. If you disagree - expect Nimitz near your shores.

because other countries who held US currency started asking for the gold it represented instead.

The US actually started handing out tons of gold, the absolute madmen

holding another currency serves the same effect as it would if you had taken stock in a company. the company represents a security and definite value, and your holding represents a trust in that value. dollars are the standard because of fuck massive GDP and power projection

Red pill me on Gold. Why is it worth so much?

portable, malleable, easily identifiable, scarce, unreactive, known to all mankind
it's much undervalued compared to fiat
problem with gold is that most of it sits in vaults while the kikes trade paper gold that doesn't exist in reality to manipulate its price at the same commodities exchange used to trade actual physical gold

gold was rare, easy to work, kept it's shape for essentially forever, did not rust, does not corrode, easy to stamp, easy to test

it checks all of the boxes and it's value is artificial yes, but it's only artificial in the sense that we use imagination bucks to assign a number

Historically, it was one of the few metals that didn't degrade. Now that we have all kinds of anti-corrosives available, apart from being in headphones, it's basically useless.

I would say that Gold is used in all sorts of computing devices, but I suppose Romanians don't have access to that technology.

Congratz on the sewer-gas powered tinmachine that allows you to browse Sup Forums though.

Because it needed to be mined to obtain large quantities of it and only the elite could afford to mine.

Money has always, from the very beginning, been fake. It exists because things work better if it exists. But through all its evolutions its just been one more absurdity after another. In the future facebook likes could be money and it wouldnt even surprise me.

But thats fine, as i said society works better when we have it. Its just that far too many people dont look at the big picture and realize there is nothing inherently valuable about any of the forms its ever taken, and nothing at all about its current form which has some intrinsic worth, we can replace it or radically change how we look at and use it at any time and nothing bad would happen. Too many people see it as a much more permanent thing that has fundamental worth and deep roots in our civilization. As a broad concept yes but in any specific form no, money may as well be nothing.

Basically allows for massive fake growth. Now we live in a magic fairy land where everything will keep growing for ever. Look at any chart and you'll see when the boom started.

Base gold = X Dollars in the economy
Economy grows faster than gold is gathered
Gold reach stupid prices and not enough dollars
in economy - Economy collapse
Get rid of economy backed by a metal.

Banks then print dollars like popcorn if
armaggedon happened in Iowa

People confused

there is still a vast quantity of unextracted gold underground
higher value would lead to tapping into costlier sources, a situation similar to peak oil

Oil production is more than suficient compared
to oil demand, The asociation of oil producers
fix the selling quantity to set the prices, same
with diamonds.
It is not the same as gold, also gold has a lot of
uses in the industry.
If it is conceptually ok for you to back currency
with metal, why not platinum or copper, why
not oil?

Gold and Silver are money, but in the age of central bank fuckery and fiat currency, they are treated as commodities.

Gold and Silver are everything currency is, plus a store of value.

They emerged as money in Lydia, when the limits of the barter economy became apparent. Coins of different weights, made of metals that were scarce and can not be manufactured, became a "medium of exchange", i.e "I have beans you want to trade for, but you have nothing I want to trade for...but these coins can solve our problem by being the means by which we all transfer value to one another for our goods and services".

why not all of them plus a bunch more as proposed by Terra TRC Bernard Lietarer's white paper
as an individual I'm wary of inflation and of the opinion that economy is something in service of the people not the other way around, that is the primary reason I'm against kike money

M E M E
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M
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It's merely peripher and of implied value. Just a lucrative business branch for control and revenue.

it's shiny