According to this whistleblower.
What do you think? Likely true.
http://www.silverdoctors.com/world-b...er-currencies/
What do you think? Likely true.
http://www.silverdoctors.com/world-b...er-currencies/
Sliver of silver and told on gold 19 replies
No more GOLD and SILVER in the USA 7 replies
Gold Silver crude views/calls 10 replies
Brokers offering Gold and Silver instruments to US clients 4 replies
MT4 wheres Gold and Silver gone 7 replies
DislikedAccording to this whistleblower. What do you think? Likely true. http://www.silverdoctors.com/world-b...er-currencies/Ignored
DislikedI have a few questions over here, just considering the fact that these metals do become the currency one day:
Doubtful unless every country want's to give up an enormous part of their gold reserves.QuoteDisliked1. Do we have enough of these metals to meet the needs of a considerable region, if they are to become the global currency?
Another problem arises here. Being that these metals are precious, minting coins out of them again - unless mixed with a semi precious metal
or alloy like Copper or Bronze their life span would be extremely short due to the fact that Gold and Silver are far more malleable than copper, nickel, zinc, bronze, etc.
Banks and then ultimately the Central bank will take out of circulation coins and paper money that is not fit to circulate any more.
The only way after thinking about this for a while -"years"- this could work is if base metals were used for coins such as almost pure copper 90%
Such as the pre 1982 US penny for low denominations like the penny. (Which is now a zinc dipped in copper) Up the nickel in nickels,
Silver could be used for Dimes and quarters could be made out of a say 50%mix instead of 90% ie 1950s US Quarters, And then perhaps make a 90% coin worth Five and a new dollar coin.
Anything over 5 dollars (Using US currency as the example b/c it is still the world reserve currency) would have to still be paper money accept it would
be redeemable for a pre set amount of gold or silver, in turn they are not really dollars but certificates, which I will post pictures of.
There will always be corruption however it might help to stabilize inflation.QuoteDisliked2. Even if we do, how can this end to the world of corruption?
over the long term.
QuoteDisliked3. If this is to happen, what will happen to the commodity market? Can anyone help me in clearing my doubts over these?
This is the real interesting part of this whole thing. What happens to the price of gold and silver???
It could either skyrocket, yet, how would it do so if the governments try to repo privately owned gold - as they did in America previously
Welcome to:
EXECUTIVE ORDER 6102:
QuoteDislikedExecutive Order 6102QuoteDislikedis an Executive Order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, andGold Certificates within the continental United...
The odd thing is that this is a similar time to the great recession however, we are far more complicated and advanced people than we were in 1933.
If the Government were to try such an order again, many would hide, bury, move, whatever it takes to keep their gold, Ultimately, it is those that have gold in vaults,
ie; the super rich that would catch the sh!t end of the stick on that one!
So, we also come to the next problem, is this going to be something the WORLD does? or just the USA?
What happened to the "GLOBAL CURRENCY" that was supposed to come out?
If the GVMNTS did decide to ban people from owning gold their would immediately be a black market for it similar to prohibition or the drug trade today.
Next problem, the Government does not own mining companies, maybe some that we don't know that they have "hand" in, yet If say Canada allows land to be prospected
to mine, there are private companies involved.
This would rock the entire mining industry.
I could go on for hours about this but what it really comes down to is that, yes,
Fiat Currency:
QuoteDislikedFiat moneyQuoteDisliked[color=#000000][font=sans-serif]Fiat money originated in 11th century China, and its use became widespread during the Yuan and Ming dynasties. During the 13th century, Marco Polo described the fiat money of the Yuan Dynasty in his book [i][url=http://en.wikipedia.org/wiki/The_Travels_of_Marco_Polo]The...
Should be overhauled, it would be great if they were backed by gold and silver so that the paper you hold in your hand was actually worth something and could no just be inflated or deflated to death whenever the countries take turns in the race to debase.
Let's see if it ever happens.
They could even make copper certificates at this rate!
Ones and fives should be copper certificates or 90% silver coins, ---- THey SHOULD RE INSTATE THE TWO DOLLAR BILL especially in NYC ---
10's 20's (maybe 50's) should be Silver Silver certificates.
50's and 100's should be Gold Certificates with a 100 USD coin release and the addition of a 75 USD note as well as a 200 USD note.
Here is yet another problem! If the majority of the price of gold is dictated - if NOT THE ENTIRE price of Gold dictated by the Government, where is there
any room for it to swing for the open markets? Traders, Investors, Jewelry, Computers, Misc, etc.
Ignored
I'm not saying the current system is some sort of nirvana, but the day we move to gold is the day I will go off the grid and be a farmer. It is completely unstable, and would cause way too much uncertainty to do any good for any modern economy. I came to this conclusion after hearing multiple vague accusations and assumptions about gold and the current system, and doing my own research and thinking.
I wrote an article titled Federal Reserve: Why and How Do They Change Interest Rates? on my blog
DislikedJust rumors and absolute crap, many many problems with gold. If it is gold and paper, it will be fractional reserve banking just like now, and worse yet, the government will hold all this mysterious gold If it is gold and paper at the same time then governments will debase it just like they do now. On top of that you will have gold being mined out of the earth, causing inflation. You will also have gold being taken on and off the market, causing fluctuations. There are still many, many ways inflation/deflation can occur. Fluctuations in commodity...Ignored