Gold Standard

What are your thoughts on the gold standard?

I was reading through the thread on Gadaffi and a number of people suggested that the US was paranoid about a gold dinar and a movement away from central banks - why would this be? As in, why would it be a problem for the USA if another country adopted the gold standard?

What are the pros/cons of gold standard in the USA/UK?

Conspiracy theories welcome.

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It would undermine the Petrodollar, weakening the US economy.

There's nothing wrong with fiat as a concept, but usury and the corruption that comes with being able to print infinite money needs to be addressed.

>It would undermine the Petrodollar
How?

>but usury and the corruption that comes with being able to print infinite money needs to be addressed
I get the corruption side but usury? How is that a consequence of fiat?

Thanks

It's a really dumb way to handle money desu, well-managed fiat works a lot better.

The Middle East wouldn't be as fucked up as it is now if all the oil countries got on board with Gadaffis plan. Big money in keeping the Middle East in a state of dysfunction.

Mainly because of the inflation that is inevitable with fiat. It's easier to enact usury when currency is continually devalued, since the layman doesn't perceive the declining value of currency on a larger scale since the cost of everyday necessities stays relatively the same. Hence why boomers are out of touch when it comes to the young generations struggle of not being able to own a home.

>The Middle East wouldn't be as fucked up as it is now if all the oil countries got on board with Gadaffis plan. Big money in keeping the Middle East in a state of dysfunction.
What was Gadaffi's plan?

>Mainly because of the inflation that is inevitable with fiat.
Surely inflation would make usury (had to google it, but it means charging high interest on loans, right?) more difficult? Because if you borrow $100 and inflation rises faster than the interest rate then it's easier to pay back the loan?

>Hence why boomers are out of touch when it comes to the young generations struggle of not being able to own a home.
This definitely rings true. Massive inflation (and I suspect the figures are doctored to make it seem lower than it really is) without much wage growth.

I think of people my age working 60hrs a week as accountants, lawyers, etc. living in small rented studio/1 bed flats. These are supposed to be prestigious jobs. The nominal value of the salaries sounds good. But you only have to look at where most of our parents were at our age (I'm 25) - they had houses, families, etc. on low skilled jobs - to see that something has gone wrong.

>I was reading through the thread on Gadaffi and a number of people suggested that the US was paranoid about a gold dinar and a movement away from central banks - why would this be? As in, why would it be a problem for the USA if another country adopted the gold standard?
read this book and you'll find out why. mises.org/library/what-has-government-done-our-money

>Conspiracy theories welcome.
no they aren't.

Work 50 hours payable time per week.

Could afford a roof over my head without insurance raping me because I am young

Paying into mandatory bullshit because Ontario

Chinks buying the reasonably priced property, renting for more then the mortgage.

I make a decent wage, I put my time in, and for what.

1. Truth be told it's probably a limited hangout in a sense. Globalist plot to cause migrant crisis, jews, yada yada

2. On paper that's true, but that one thing that isn't "inflating" is wages. We're being cuckolded hard.

3. What's really concerning is that they bend over and take it.

In the gold standard countries tried to stablize their economy by placing a price on gold. In this there would not be enough gold in the world for all the wealth of the world. Countries did not want to send all their gold to other countries when in trouble. NOW it would just be a major drain on the economy in a market driven economy. It could have worked for Lybia in country, with oil revenue to do buisness with world.

TRIPS ooooh....
Money today is based on, how the economy fells. It is suppost to be based on GDP

I'll just leaf this here

China would be in the best position to back a currency with gold. Unfortunately for them to do so would devalue their massive dollar holdings...

I'll bet you all of China's gold that at least half of their gold is counterfeit.

They're playing the long game. Why do you think they allow their nationals to smuggle money out of the country to buy property in the west? It's a means of converting their fiat holdings into real assets and building fifth columns simultaneously. They're fucking crafty buggers.

>fifth columns
what are fifth columns?

this rabbit hole never ends... maybe David Icke is right

Delicious tungsten

>A fifth column is any group of people who undermine a larger group from within, usually in favor of an enemy group or nation. The activities of a fifth column can be overt or clandestine. Forces gathered in secret can mobilize openly to assist an external attack. This term is also extended to organized actions by military personnel. Clandestine fifth column activities can involve acts of sabotage, disinformation, or espionage executed within defense lines by secret sympathizers with an external force.
t. Google you lazy sack

...

Explain how I'm wrong on any count.

Alright economic newbies.
First of all: I am against currencies. Only gold is real. Here is why.
In last 10 years FED printed more curency than in last 200. To come out of deep shit they do with currency. Currency failure ration through history is 100%
Gold backed currency is currency limited to gold since gold is relatively scarce and limited in amount unlike paper.
Now what happens is when you exchange from gold backed currency to USD the more paper USD there is the cheaper it gets aka devaluation. Now gold backed currency has fixed exchange rate.
>Note: we have global flexible exchange rates which allows manipulations and bubbles at large. So it is hard to tell how much it is printed. Since everyone prints.

Now if 1 currency with fixed rates exists and it is backed by gold it will show right away the devaluation of USD.
Imagine Gold dinar costs 1 dollar but in 3 month its 10 dollars. So dollar got shittier.

>How state robs from you: imagibe you got 1 USD and state got 1 USD. So 2 dollars can by everything in the economy that there is for sale.
Now state prints 98 dollars more. U still got 1 USD but state got 99 USD. Bow you can buy only 1 percent of all the goods in the economy. Before you could by 50% of all goods. That is how you loose purchasing power.

You can try and tell them to stop printing paper. I bet they will listen.

Understand. There are literally 2 econ systems that are based of gold aka real money that will not fail. Sadly they envision wealth as side factor. Those who seek wealth and power will never wabt those systems to be implemented. You could travel to space but not with systems of today because it will never be economically feasible for rich powerful fucks using these systems to fly to space.

U.S is reserve currency and Opec countries trade in oil for dollars. That's why trump went over to suck saudi cock

"The petrodollar system resulted in three immediate advantages to the US:

1.It helped the USD global demand
2.It increased global demand for the US debt securities
3.It gave the US the possibility to buy oil with a currency it can print at will"

I suggest for all to watch series from Mike Maloney. He sums up pretty well and explains the scam.
If only I found about him earlier. The series is called Hidden Secrets of Money. Enjoy. Its on youtube. AMA if you got questions.

t.Sp0k

Bumpito maximus!!!

It's not so much of a standard as it is the only thing left when you don't trust or like your counterparty.

Even then you have to watch out for fraud, hollowed out bars, gold plated slugs, etc.

How do you feel about currency based on pure energy? Currency based on kj's or BTU's? I've always thought about this, someone please tell me why I'm an idiot.

Because possibikity of unlimited creation of the medium of exchange leads to stupid people fucking the system by doing it. Limit is necessary to account for wealth growth of a nation. No wealth grows parameter - manipaulation allowed. Thanks Voltaire.

Fiat ?

Well managed fiat. He is an idiot. Fiat is from latin of trust. Trust in paper. Now thanks. Specially when you can create unlimited paper. Not with gold actually.

OP look up the Bretton Woods Conference.
After WWII the US ended up with the majority of the worlds gold.
That gold backed the US dollar as a stable currency and made the dollar the standard against which all other currencies would be measured.
At the same conference the World Bank and International Monitary Fund (or as /chan/ would call them, those jooowz)
Every country needed to hold US dollars in their banks to back up their own currencies as well as for trade. So the US went crazy printing money as everyone wanted it so they printed more than they safely could back with the gold they had.
They blew the cash on the Korean war, Vietnam the arms race with Russia and the space program.
Some countries noticed what was going on and took their at the time, gold backed dollars to the bank in exchange for bullion.
Fearing a run on the banks Nixon/Kissinger came up with the whole petro dollar scheme with Saudi Arabia/OPEC (look that up too for details, I'm sick of typing)
But if anyone wants to but oil it has to be with US dollars and they must pay to buy those dollars.
The Saudis put those dollars back in US banks where they lend it out again for more interest.

If you want to buy or sell oil, you need dollars. It's like visa: "they don't take dinars and they don't take American Express. Dollars-- they are everywhere you want to be". Anyone seeing the world financial statement was worked up about a few billion in African gold just doesn't understand how money works

Oil trading with an alternative currency to the USD triggers US and Israel

China is one of the largest miners of gold in the world.
They are also one of the largest buyers and they've been understating both their production and holdings for years waiting for the wests next big market crash so they can move and take over the currency market.

This is the historical part of the matter research it OP

Under central banking:
>Banks get to exist for ever because they get their cash from the central bank
>Corporate welfare
>Printing money to solve any possible situation
>Build 150% debt to GDP ratio with 0 fucks given
>Skyrocket property cost because money is cheap
>Debt has a lot of holders but only one payer, the central bank

Under Gold Standard
>Value of the currency is defined by the free market
>Stable value over decades, debt can not be inflated away nor lenders can fear that their capital will turn into toiled paper
>A fear world where corporation and banks are not god-like beings, well if the gov want to give them money it can but not forever ever like now

The biggest problem with the gold standard:
When a cash outflow happens because investors want to get their capital out of the country/currency, eventually the gov could end up with no gold at all, so the trick was to use high interest rates for creditors/investors, and by doing this they wouldn't move their capital , the problem is that under the gold standard you can't print the problem away so you have to drive over the citizens aka the ones who don't have a right to vote, in order to secure the existence of the status quo, by riseing taxes and lowering spending .

Tldr:
Under fiat currency everybody gets ran over under
Gold standard 85% of the population gets ran over really hard but the rest 15% present gets to live confy as fuck, and the jock is that despite this 100 years ago middle-low class had it easier to settle down than middle class people today