Steve Forbes Predicts a Return to the Gold Standard Within Five Years

[pmbug]

HR 1098 holla!

 

[ancona]

PMBug, I believe it will all come down in a smoking pile before the PTP and banksters allow a gold standard. The whole reason behind paper gold was to relieve pressure on rising prices, but we are now at the end game in paper, because MF Global has cracked the glass wall of confidence and the sheeple are finally waking up to the scam.

It's going to get really interesting when the wide awake masses begin to liquidate paper and attempt to acquire physical. Interesting indeed.

 

[white&yellow999]

Although it might be much to the dismay of the central bankers because they wouldn't be able to just print, print, print, in order to remain the world reserve currency the U.S. gov't would need to do something drastic. This could be it, I know there is one presidential candidate that strongly supports this. No need to name names, I think we all know who it is.

My question is, what would the price of gold have to be in order to balance the countries supply of gold to the countries supply of money?

 

[pmbug]

...
My question is, what would the price of gold have to be in order to balance the countries supply of gold to the countries supply of money?

Jim Rickards gave a recent interview where he touched on this subject:

... When asked about Paul Brodsky’s thoughts on gold and his $10,000 price target, Rickards responded, “I agree completely with Paul on that. Again, I don’t want to put a stake in the ground around $10,000. My method has been to come up with a range, depending on different variables, but you end up in the same place.”

Jim Rickards continues:

“Here’s the point, whether you end up with $5,000, $7,000, Paul is saying $10,000 and that’s a perfectly respectable estimate, I could (even) see it (gold) at higher levels, $15,000 or $20,000. In other words, the price level that I have given, that is in chapter eleven of the book, is based on today’s data.

Now if you change the data, if you print even more money than we’ve printed so far, you’ll get even higher prices. But the point is Paul’s estimate is right in the middle of the range that I’ve come up with, a perfectly good estimate. We all like our investments to go up, but if you buy gold at $1,700 and it goes to $1,500, buy more because it’s on its way to $2,000, $3,000, $4,000 and higher.
...

http://kingworldnews.com/kingworldn..._Pullback_Meaningless,_Its_Headed_Higher.html

 

[Island_Dweller]

I just don't see a gold standard happening (nor do I want one). To me, gold should float against all nations' currencies. What we are seeing today is people re-recognizing that gold is as Alan Greenspan called it "the ultimate form of payment". Why would I want governments to try and legislate the price of gold? I see no gain to it; in fact, this sort of price setting assisted in bringing on the Great Depression. What we need is private citizens to make private decisions to own gold and get then to work on our governments to eliminate debt based currency and legal tender laws.

Ask yourself this question. Is government smart enough to determine the value of gold? I say let the free market handle that decision.

 

[pmbug]

... To me, gold should float against all nations' currencies. ...

That's what HR 1098 is all about.

 

[benjamen]

New pro-gold standard Forbes article:
http://www.forbes.com/sites/steveforbes/2012/11/01/gold-and-the-wicked-magicians/

"Ben Bernanke is engaged in Soviet-style credit allocation. By keeping interest rates low, he makes it easy for the federal government to massively expand its power through gigantic increases in spending. The Federal Reserve buys most of the government debt, and the interest Uncle Sam pays on it is de minimis . Call it “deficits without tears.”