rayt
08-22-2011, 05:50 PM
I posted this idea over at DailyPaul and thought I would post it here as well to see what others think of the idea. Not sure if it's already been presented by someone else (a quick search didn't reveal much), but I was thinking, how about instead of doing a standard Money Bomb, the campaign does a Gold Bomb?
Let me explain a bit further (based on the comments I received from my other post). This would not be a Gold Bomb in the sense where people send in gold bars or coins to the campaign. Instead, it would be your typical money bomb, same donate page, using credit cards, or mailing in a check or cash. The difference with this bomb is that instead of the ticker showing how many dollars have been donated, it would show the number of oz. donated by taking the dollars divided by the current spot price of gold (or if it's during a weekend, the Friday close price). The campaign would set a target of something like 1000 oz. of gold and we'd try to hit that goal. At the end of the bomb, the spot price would be fixed for historical reference.
For example, say the Gold Bomb starts on Friday afternoon and the spot price is $2000/oz. The goal would be 1000 oz. ($2 mil) by Sunday afternoon. As each donation comes in, the ticker would increment by the fractional number of oz. the last person donated (dollars donated/spot).
The campaign would not purchase any gold with this money, or report it to the FEC as donations in gold. It would simply be more of a symbolic Gold Bomb instead of a physical one. I can see this benefiting the campaign in a few different ways. First, it would be a twist on the standard money bomb, possibly getting supporters a bit more energized (and maybe a few new ones who are into alternative currencies). Second, it would advance RPs cause of competing currencies by hopefully educating people about gold being money. Third, this gives the added benefit of being able to refer back on a future date and see how the dollar has depreciated over time. For example, someone would say, "Wow, $2 mil used to buy 1000oz of gold, now it only buys 750oz".
I think this could be an interesting idea and wanted to get some feedback on this. I sent the campaign an e-mail about this (below) and am waiting to hear from them.
Any comments or criticisms on this idea?
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Hello,
I was wondering, instead of having a typical money bomb, why don't we have a Gold Bomb? I mentioned this idea on DailyPaul.com the other day and got some positive feedback.
The idea is basically this: we set a target of something like 1000 oz. of gold and as donations come in (via the standard website donate page), we convert the dollars donated into oz. of gold at the current spot price.
Of course, the dollars needed to achieve 1000 oz. would vary based on the spot price. But it's not hard to retrieve the spot price via web service (I believe Kitco has one, as well as several other websites) and just divide dollars donated by current spot price. Or if people want to send in gold donations, that could just be tacked on to the total as they're received.
Of course, the FEC requires dollar amounts to be reported, so it would also be a good idea to put the total dollar amount under the oz. of gold donated. This gives the added benefit of being able to refer back on a future date and see how the dollar has depreciated over time. For example, someone would say, "Wow, $1.85 mil used to buy 1000oz of gold, now it just buys 500oz".
I think this could be a good idea. In addition giving Ron Paul more money to campaign with, we would be advancing the cause of moving back to a commodity (not necessarily gold) standard by showing the inflationary, and self-destructive, nature of fiat money.
I was thinking that we could have the Gold Bomb on Dec. 23, the 98th Anniversary of the Federal Reserve Act of 1913, but considering it's so close to the holidays, there may not be as many donations coming in (but I could be entirely wrong on this point). We could also take a scheduled money bomb and convert it into a gold bomb.
Please take this into consideration since anything we can do to get the supporters energized to give more to the campaign is worth doing.
Sincerely,
rayt
Let me explain a bit further (based on the comments I received from my other post). This would not be a Gold Bomb in the sense where people send in gold bars or coins to the campaign. Instead, it would be your typical money bomb, same donate page, using credit cards, or mailing in a check or cash. The difference with this bomb is that instead of the ticker showing how many dollars have been donated, it would show the number of oz. donated by taking the dollars divided by the current spot price of gold (or if it's during a weekend, the Friday close price). The campaign would set a target of something like 1000 oz. of gold and we'd try to hit that goal. At the end of the bomb, the spot price would be fixed for historical reference.
For example, say the Gold Bomb starts on Friday afternoon and the spot price is $2000/oz. The goal would be 1000 oz. ($2 mil) by Sunday afternoon. As each donation comes in, the ticker would increment by the fractional number of oz. the last person donated (dollars donated/spot).
The campaign would not purchase any gold with this money, or report it to the FEC as donations in gold. It would simply be more of a symbolic Gold Bomb instead of a physical one. I can see this benefiting the campaign in a few different ways. First, it would be a twist on the standard money bomb, possibly getting supporters a bit more energized (and maybe a few new ones who are into alternative currencies). Second, it would advance RPs cause of competing currencies by hopefully educating people about gold being money. Third, this gives the added benefit of being able to refer back on a future date and see how the dollar has depreciated over time. For example, someone would say, "Wow, $2 mil used to buy 1000oz of gold, now it only buys 750oz".
I think this could be an interesting idea and wanted to get some feedback on this. I sent the campaign an e-mail about this (below) and am waiting to hear from them.
Any comments or criticisms on this idea?
----------------------------------------------------------
Hello,
I was wondering, instead of having a typical money bomb, why don't we have a Gold Bomb? I mentioned this idea on DailyPaul.com the other day and got some positive feedback.
The idea is basically this: we set a target of something like 1000 oz. of gold and as donations come in (via the standard website donate page), we convert the dollars donated into oz. of gold at the current spot price.
Of course, the dollars needed to achieve 1000 oz. would vary based on the spot price. But it's not hard to retrieve the spot price via web service (I believe Kitco has one, as well as several other websites) and just divide dollars donated by current spot price. Or if people want to send in gold donations, that could just be tacked on to the total as they're received.
Of course, the FEC requires dollar amounts to be reported, so it would also be a good idea to put the total dollar amount under the oz. of gold donated. This gives the added benefit of being able to refer back on a future date and see how the dollar has depreciated over time. For example, someone would say, "Wow, $1.85 mil used to buy 1000oz of gold, now it just buys 500oz".
I think this could be a good idea. In addition giving Ron Paul more money to campaign with, we would be advancing the cause of moving back to a commodity (not necessarily gold) standard by showing the inflationary, and self-destructive, nature of fiat money.
I was thinking that we could have the Gold Bomb on Dec. 23, the 98th Anniversary of the Federal Reserve Act of 1913, but considering it's so close to the holidays, there may not be as many donations coming in (but I could be entirely wrong on this point). We could also take a scheduled money bomb and convert it into a gold bomb.
Please take this into consideration since anything we can do to get the supporters energized to give more to the campaign is worth doing.
Sincerely,
rayt