The Gold Standard

[Casey Jones]

I think it's a misconception to think that the Gold Standard needs the monetary authorities - the managers of the national currency - to do something.
Gold Standard means using gold - i.e. a currency representing a fixed quantity of gold - as everyday currency.
When buyer and seller transact in gold, that's for me is Gold Standard.
E.g. using Kinesis' KAU is Gold Standard.
The Fed is not necessary in order to build and expand the Gold Standard. It's up to the people.

What it needs is honest government ministers of integrity.

We have none, now. It doesn't matter, because we'll not get a gold standard until the hard reset happens (the opposite of Davos Man's masturbatory Grate Reset) - the natural end of when avarice collides with idiocy in a hubris fog.

THAT will cleanse things. How it goes from there, a crap shoot - if we can rediscover basic morality and return to the principles underlying this nation's founding (decentralization of government, morality, relearning that the citizen is sovereign, the family is essential, the community is the structure, the States have plenary powers and the States created and must control the Union.

But half our populace wants some sort of collectivist - fascist government.

We will see. But we'll not see any serious moves to end our debt-based economy with fiat currency.

 

[Peter89]

A gold standard as we had it limits government spending.

What it needs is honest government ministers of integrity.

We have none, now. It doesn't matter, because we'll not get a gold standard until the hard reset happens (the opposite of Davos Man's masturbatory Grate Reset) - the natural end of when avarice collides with idiocy in a hubris fog.

THAT will cleanse things. How it goes from there, a crap shoot - if we can rediscover basic morality and return to the principles underlying this nation's founding (decentralization of government, morality, relearning that the citizen is sovereign, the family is essential, the community is the structure, the States have plenary powers and the States created and must control the Union.

But half our populace wants some sort of collectivist - fascist government.

We will see. But we'll not see any serious moves to end our debt-based economy with fiat currency.

Hello Nick
hello CS
this is Gold Standard

People own gold
people pay with gold
no need of fiat
no need of bank
Gold Standard

 

[Casey Jones]

You don't hold it, you don't own it.

What's to keep the holders of the gold from "fractional-reserving" the "owners" gold?

 

[maria13]

The gold standard was a monetary system where a country's currency or paper money had a value directly linked to gold. Under this system, governments and central banks would fix the price of their currency in terms of a specified amount of gold, and they would be ready to buy and sell gold at that price. This system was prevalent in the 19th and early 20th centuries, with variations in how it was implemented across different countries.

The gold standard provided stability to international exchange rates and helped to maintain confidence in currencies. However, it also had limitations. Countries had to maintain large gold reserves to support their currency, limiting their ability to pursue monetary policies to stabilize their economies. Additionally, the supply of gold was limited by natural factors like mining discoveries, which could constrain economic growth.

The gold standard was gradually abandoned by most countries during the 20th century. The Great Depression and the economic disruptions of World War I and II led many countries to abandon it in favor of more flexible exchange rate systems. Today, most countries use fiat currencies, where the value of money is not linked to any specific commodity like gold.

For those interested in gold investment, companies like BOLD Precious Metals and APMEX provide avenues to learn more about gold and other precious metal investments.

 

[pmbug]

... However, it also had limitations. Countries had to maintain large gold reserves to support their currency, limiting their ability to pursue monetary policies to stabilize their economies. Additionally, the supply of gold was limited by natural factors like mining discoveries, which could constrain economic growth. ...

Constraining monetary expansion was a feature, not a bug. Also, the gold standard did not constrain economic growth. It constrained monetary growth. There is a big difference. Economic growth could grow faster than the monetary base and it led to a benign form of (non-harmful) deflation.

 

[nickndfl]

Constraining monetary expansion was a feature, not a bug. Also, the gold standard did not constrain economic growth. It constrained monetary growth. There is a big difference. Economic growth could grow faster than the monetary base and it led to a benign form of (non-harmful) deflation.

Now that paragraph is gold.