Gold isn't the answer.

[Warrior_of_Freedom]

That's my philosophy anyway. Assume that we go back on the gold standard, who owns the majority of the gold? The same people controlling our monetary system.

[Fozz]

Yes, it is.

[Fozz]

It doesn't matter. Gold cannot be created out of thin air.

[freshjiva]

I used to think this as well. Until Ron Paul answered my question.

The powerful elites are only powerful and elite because they control the printing presses. Gold incapacitates them from doing this.

[xd9fan]

sorry warrior....your just simply on the wrong side of 6000 years of human/gold history.

gold is beyond their control....or yours

[ViniVidiVici]

OK well you stock up on paper money and I'll stock up on gold. We'll see who's in better shape when s--- hits the fan.

[specsaregood]

Gold in the hand makes everybody a central banker of their own.

[ClayTrainor]

Gold may not be the answer for everyone, but I feel it's a good investment for me at this time. I'm not a supporter of the Gold Standard, because I think the market should set the currency standards. I'm sure Gold would fare quite well in a free-market money scenario, but I don't think Gold should be a state enforced standard.

[FrankRep]

Gold isn't the answer.

What was the question?

[Krugerrand]

What was the question?

What type of foil should I use to wrap my leftovers. :D

[Derek Johnson]

Gold encourages savings, capital investment, destroyes the derivative/leverage phenomena if 100% banking practice is applied (the only folly of our previous gold standard) and emasculates the government to business ties as well as the government to labor union ties with a laser beam.

If you still believe that paper money is "ok", then I invite to to also believe in Santa, the tooth fairy, the easter bunny and the great pumpkin. They are far more reliable than giving a central inflationary bank unbridled power to buy govt securities with a check backed only on promise (which they have to loot the entire population of tax payers via the IRS to keep), not capitol and then the entire banking sector under the FED gets to create credit (inflate) 10 fold based on that unbacked check....

...good luck with all that.

[Warrior_of_Freedom]

Gold encourages savings, capital investment and burns the government to business ties and govt to labor union ties with a laser beam.

If you still believe that paper money is "ok", then I invite to to also believe in Santa, the tooth fairy, the easter bunny and the great pumpkin. They are far more reliable than giving a central inflationary bank unbridled power to buy govt securities with a check backed only on promise, not capitol and then the entire market gets to create credit (inflate) 10 fold based on that unbacked check....

...good luck with all that.

I don't believe paper money is ok.

[Derek Johnson]

I don't believe paper money is ok.

Tell us then what you do believe is "ok".

Convertability from present into gold will only thrash government bodies, programs and government supported entities, not the private sector unless they get monies via SBIR, grants etc.

Silver (parallel standard) money is good.

Copper money is good.

Platinum money is good.

Let the market decide, not Lord Peel era (1844 to now) legal tender laws.

[Elwar]

That's my philosophy anyway. Assume that we go back on the gold standard, who owns the majority of the gold? The same people controlling our monetary system.

Ron Paul has not advocated going back to the gold standard.

He has called for legalizing competing currencies.

[ctiger2]

Silver Standard is probably the answer.

[Derek Johnson]

Silver Standard is probably the answer.

You could be right, but the real answer is the Hayekian "basket".

This is the full repeal of Peel legal tender laws. Then we can trade in copper money for low level, silver for most, gold for cars & homes and platinum for very large and international trade.

The point is let the market decide. Hayek nailed it, Rothbard supported it and Paul advocates it.

It's overdue.

[NerveShocker]

Gold is useless everybody.. That being said does anyone have any extra gold laying around they don't need? Ahem warrior..

[Jace]

I understand the arguments for the gold standard. It is way better than what we've got now.

However, what I don't understand is why people think a gold standard won't be manipulated. We fought our biggest wars under a gold standard, and gold standards have never enforced fiscal discipline on governments.

Of course our current fiat system is a disaster, where the Fed is the center of power, dispensing out currency to favored institutions and individuals, choosing winners and losers, while savers and outsiders lose out.

Not that I am for fiat currencies, but I don't understand why people say all fiat currencies fail. All currencies in the world today are fiat currencies, yet there are no gold standards left. It is the gold standard that has universally failed worldwide.

I wonder if there is some other form of currency that rewards savers and workers that cannot be manipulated by someone with a state-sponsored printing press, or storehouses full of shiny metal.

There has to be a better way.

The Gold Standard: Solid as the Paper It's Written On (http://www.minyanville.com/businessmarkets/articles/gold-currency-paper-fiat-usd-dollar/3/19/2010/id/27359)

[ClayTrainor]

I understand the arguments for the gold standard. It is way better than what we've got now.

However, what I don't understand is why people think a gold standard won't be manipulated. We fought our biggest wars under a gold standard, and gold standards have never enforced fiscal discipline on governments.


I agree that the Gold standard was very open to manipulation as well. The idea of state enforced currencies is the problem. Individuals voluntarily interacting in the market should pick their own currency standard(s).



Of course our current fiat system is a disaster, where the Fed is the center of power, dispensing out currency to favored institutions and individuals, choosing winners and losers, while savers and outsiders lose out.

Not that I am for fiat currencies, but I don't understand why people say all fiat currencies fail. All currencies in the world today are fiat currencies, yet there are no gold standards left. It is the gold standard that has universally failed worldwide.
It wasn't that the Gold standard had necessarily failed, it's that the states decided to enforce FIAT instead of a Gold standard, for whatever reason.

Ask yourself this...What's happened to the value of Gold, since the FIAT standard was put in place? If there was open competition on currencies, which one do you think free people would be more likely to choose?



I wonder if there is some other form of currency that rewards savers and workers that cannot be manipulated by someone with a state-sponsored printing press, or storehouses full of shiny metal.

There has to be a better way.


Free-market. :)

[heavenlyboy34]

Ron Paul has not advocated going back to the gold standard.

He has called for legalizing competing currencies.

You haven't read "The Case For Gold"? :eek: