23 Aug 23
Ron Paul is vindicated as congress signals a desire to go back to the gold standard.
https://www.zerohedge.com/political/efforts-protect-us-intensify-amid-global-shift-dollar
This is because of competition from BRICS adopting the gold standard. Now the US has to do the same with the dollar.
https://www.zerohedge.com/political/efforts-protect-us-intensify-amid-global-shift-dollar
23 Aug 23
@earl-of-trumps saidWhy?
Ron Paul is on the side of good.
My personal opinion about BRICS is that it won't last long.
24 Aug 23
@Metal-Brain
Because Russia's currency and China's currency are questionable going forward.
@metal-brain saidRon Paul is vindicated as congress signals a desire to go back to the gold standard.
Ron Paul is vindicated as congress signals a desire to go back to the gold standard.
https://www.zerohedge.com/political/efforts-protect-us-intensify-amid-global-shift-dollar
This is because of competition from BRICS adopting the gold standard. Now the US has to do the same with the dollar.
https://www.zerohedge.com/political/efforts-protect-us-intensify-amid-global-shift-dollar
Sorry to rain on your parade here but-
Republican President Richard Nixon took America off the gold standard in 1971. In our deeply divided nation Ron Paul had better have great sales pitch, or that will go nowhere. This is going to require far more than the stroke of Bidens pen. Going back to the gold standard will require a Federal audit of Americas gold reserves, which I suspect are far short of the amount required to make this happen, so there will be price of purchasing the required amount of gold, extra government staff to monitor the amount of gold reserves as they balance these with the amount of dollars in circulation, the inevitable public disclosure lawsuits, updated facility and security costs. In short, this could be very expensive indeed. How does Mr. Paul plan to pay for all of this? More taxes? Tack it on to the deficit? Is this really something Mr. Paul and his (small government) conservative friends in Congress wants to promote going into a general election? - - Pigs might fly, but I wouldn't bet in it.
https://www.barrons.com/articles/gold-standard-dollar-dominance-bretton-woods-51628890861
24 Aug 23
@earl-of-trumps saidWhat is your source of information?
@Metal-Brain
Because Russia's currency and China's currency are questionable going forward.
24 Aug 23
@mchill saidNo sales pitch needed because it will be inevitable. If BRICS goes on the gold standard the US dollar will have to follow to compete. It is either that or let the US dollar lose world reserve currency status.
Ron Paul is vindicated as congress signals a desire to go back to the gold standard.
Sorry to rain on your parade here but-
Republican President Richard Nixon took America off the gold standard in 1971. In our deeply divided nation Ron Paul had better have great sales pitch, or that will go nowhere. This is going to require far more than the stroke of Bidens pen. Going ...[text shortened]... n it.
https://www.barrons.com/articles/gold-standard-dollar-dominance-bretton-woods-51628890861
24 Aug 23
@metal-brain saidEvidence for your nonsensical assumption. This is a ploy by gold hoarders to sky rocket the value of gold.
No sales pitch needed because it will be inevitable. If BRICS goes on the gold standard the US dollar will have to follow to compete. It is either that or let the US dollar lose world reserve currency status.
The gold standard belongs in the economic dark ages, why gold? Why not a Barbie doll standard? It’s the economics of kindergarten
24 Aug 23
@kevcvs57 saidAre you claiming BRICS is not going to back their currency with gold?
Evidence for your nonsensical assumption. This is a ploy by gold hoarders to sky rocket the value of gold.
The gold standard belongs in the economic dark ages, why gold? Why not a Barbie doll standard? It’s the economics of kindergarten
Are you claiming the US congress is not seriously considering doing the same if it happens? How else would the US dollar compete with a gold backed BRICS? Which would you choose? The latter if you are smart.
@metal-brain saidYeah I’m claiming all that because you’re talking utter 💩 once again.
Are you claiming BRICS is not going to back their currency with gold?
Are you claiming the US congress is not seriously considering doing the same if it happens? How else would the US dollar compete with a gold backed BRICS? Which would you choose? The latter if you are smart.
@kevcvs57
BRICS is growing and will keep growing.
https://www.zerohedge.com/geopolitical/xi-putin-hail-first-brics-expansion-over-decade-two-gulf-oil-powers-join
The only one talking crap is you. This is why the US wants WW3, to eliminate the competition. After all, it is only human life. They think the world is over populated anyway.
@metal-brain saidBy "Congress", you mean three far right Republicans.
Ron Paul is vindicated as congress signals a desire to go back to the gold standard.
https://www.zerohedge.com/political/efforts-protect-us-intensify-amid-global-shift-dollar
This is because of competition from BRICS adopting the gold standard. Now the US has to do the same with the dollar.
https://www.zerohedge.com/political/efforts-protect-us-intensify-amid-global-shift-dollar
The US isn't going back to the gold standard.
25 Aug 23
1 edit
@no1marauder saidSo they will resort to WW3 to prevent that?
By "Congress", you mean three far right Republicans.
The US isn't going back to the gold standard.
Is that what you are saying?
Or are you saying BRICS is not going back to the gold standard so the US dollar will not have to?
With inflation plaguing the economy as the U.S. dollar is increasingly being sidelined in international trade, potentially even at risk of losing its status as the global reserve currency, lawmakers in Washington and state capitals are touting gold and precious metals as the solution.
https://www.zerohedge.com/political/efforts-protect-us-intensify-amid-global-shift-dollar
25 Aug 23
@metal-brain saidThe US dollar will not have to. Any gold backed currency will suffer extreme deflation until it becomes useless as a currency.
So they will resort to WW3 to prevent that?
Is that what you are saying?
Or are you saying BRICS is not going back to the gold standard so the US dollar will not have to?
@athousandyoung saidLOL!
The US dollar will not have to. Any gold backed currency will suffer extreme deflation until it becomes useless as a currency.
The US dollar used to be on the gold standard. That ended because of inflation, not deflation. You have it completely backwards.