Travis Posted October 12, 2009 Posted October 12, 2009 Since Nixon severed gold from the greenback in 1971, the dollar's comparative value has fallen 97%. Money printing today will only hasten the currency's destruction.http://articles.mone...poly-money.aspx so what the heck is an American to do? someone anyone??? Link to comment Share on other sites More sharing options...
Mik Posted October 13, 2009 Posted October 13, 2009 Here is a sample of the new currency that will be introduced after hyper-inflation hits. Maybe with a few of these you could buy yourself a meal. Link to comment Share on other sites More sharing options...
Mik Posted October 13, 2009 Posted October 13, 2009 The dollar has fallen around 96% since the creation of the Federal Reserve in 1913. After that the US was on a psuedo gold standard with fiat currency. The Fed creates as much money as they want. The money supply grows and the value is diluted. It's a hidden tax on your savings.Actually, the solution is somehow going back to a pre-1900 honest gold standard and abolish the Federal Reserve and repeal the 16th Amendment (federal income taxes) - a small limited government that doesn't spend so damned much money. Of course this is unlikely. On a pure gold standard the government would be unable to print money out of thin air to finance imperial wars and enrich their friends the global elite bankers. A great article explaining what happened to the dollar during the last century:Bernanke's Great Fib - The "Gold Standard" and the Great Depression"...The pure 100% reserve gold and silver standard is commodity money issued in the form of hard gold and silver coins, or receipt (whether paper or electronic) money issued in lieu of metal held in a money warehouse. The amount of coinage in circulation plus the receipt money always equals the total mass of metal in the monetary system. Rothbard refers to this as a "parallel standard," but be careful to not confuse this with bimetallism(1). I have found that this is what people commonly mistaken as the "gold standard." I will refer to the above as the Austrian standard for simplicity...."http://www.campaignforliberty.com/article.php?view=251. Link to comment Share on other sites More sharing options...
Mik Posted October 13, 2009 Posted October 13, 2009 The dollar has lost 81% of its purchasing power since 1971.. Link to comment Share on other sites More sharing options...
Genius Posted December 6, 2009 Posted December 6, 2009 Solution is definitely not going back to the gold standard! World credit would contract. World Trade would collapse. Jobs would vanish exponentially.We d see a global collapse.Not saying things are that good now, but hey they could be a whole lot worse. Link to comment Share on other sites More sharing options...
Mik Posted December 7, 2009 Posted December 7, 2009 (edited) Each state or province could use its own promissory notes for commerce instead of federal reserve bank paper. Keep banks out of the picture.. Edited December 7, 2009 by M.Morey Link to comment Share on other sites More sharing options...
Recommended Posts