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Thread: Trump Thinking About The Gold Standard !

  1. #1

    Trump Thinking About The Gold Standard !

    Since this is one of Ron Pauls ideas from way back, now what do you think ?

    https://www.forbes.com/sites/ralphbe.../#3aa9faf07314



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  3. #2
    lol, wait until he finds out that we can't print gold to fund his budget.

  4. #3
    Quote Originally Posted by ProBlue33 View Post
    Since this is one of Ron Pauls ideas from way back, now what do you think ?

    https://www.forbes.com/sites/ralphbe.../#3aa9faf07314
    There is no spoon.

  5. #4
    Quote Originally Posted by ProBlue33 View Post
    Since this is one of Ron Pauls ideas from way back, now what do you think ?

    https://www.forbes.com/sites/ralphbe.../#3aa9faf07314
    1. This theory is made up out of whole cloth. Trump says there is no global currency, and Benko dreams all this stuff up from that? Really? Pure wishful thinking.

    2. Ron Paul never advocated a gold standard. He favors competing currencies.

    3. What specs said. When was the last time a country went from fiat to sound money during a war--much less three or four wars?
    Quote Originally Posted by Swordsmyth View Post
    You only want the freedoms that will undermine the nation and lead to the destruction of liberty.

  6. #5
    Quote Originally Posted by acptulsa View Post
    1. This theory is made up out of whole cloth. Trump says there is no global currency, and Benko dreams all this stuff up from that? Really? Pure wishful thinking.

    2. Ron Paul never advocated a gold standard. He favors competing currencies.

    3. What specs said. When was the last time a country went from fiat to sound money during a war--much less three or four wars?
    Ron does advocate a gold standard:

    Restoring a gold coinage is also the highest duty we now face, as citizens of this country. We no longer live in a world where the free market is taken for granted. On the contrary, most people assume government must control and guide the economic system for the benefit of all. Ludwig von Mises suffered during most of his career because he understood too well the stakes of this ideological conflict:

    “Cynics dispose of the advocacy of the restitution of the gold standard by calling it Utopian. Yet we have only the choice between two Utopias: the Utopia of a market economy, not paralysed by government sabotage, on the one hand, and the Utopia of totalitarian all-round planning on the other hand. The choice of the first alternative implies the decision in favour of the gold standard.”[14]

    I believe the goal of a market economy, not paralyzed by government sabotage on behalf of vested interests and pressure groups is an ideal worth fighting for. This is why I first ran for Congress, and it is the only reason I believe justifies political action.
    https://www.lewrockwell.com/2008/01/...gold-standard/

    That said, I definitely agree with #1.
    There is no spoon.

  7. #6
    Quote Originally Posted by Ender View Post
    One can quote Mises advocating a gold standard without advocating one himself. One can be in favor of coining gold without favoring a gold standard. Any "standard" is antithetical to competing currencies--and he clearly favors competing currencies.

    Quote Originally Posted by Ender View Post
    That said, I definitely agree with #1.
    How do you feel about #3?
    Quote Originally Posted by Swordsmyth View Post
    You only want the freedoms that will undermine the nation and lead to the destruction of liberty.

  8. #7
    Quote Originally Posted by acptulsa View Post
    One can quote Mises advocating a gold standard without advocating one himself. One can be in favor of coining gold without favoring a gold standard. Any "standard" is antithetical to competing currencies--and he clearly favors competing currencies.
    He has often said that the gold standard is not ideal; but better than our current system. In that he would support/advocate a gold stand in comparison to funny money. With that said, I too think it is clearly he would prefer removing legal tender laws and advocates for competing currencies.

  9. #8
    Quote Originally Posted by specsaregood View Post
    He has often said that the gold standard is not ideal; but better than our current system. In that he would support/advocate a gold stand in comparison to funny money. With that said, I too think it is clearly he would prefer removing legal tender laws and advocates for competing currencies.
    Sounds like a perfect summation to me.

    And as for Trump? If you want to hold your breath waiting for Trump to put us on a gold standard in the middle of multiple wars, with the debt ballooning, just because he said there is no global currency, go ahead. Hold your air until you pass out. Just don't blame me when you wake up with a headache.
    Last edited by acptulsa; 03-15-2018 at 08:28 AM.
    Quote Originally Posted by Swordsmyth View Post
    You only want the freedoms that will undermine the nation and lead to the destruction of liberty.



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  11. #9
    Quote Originally Posted by acptulsa View Post
    One can quote Mises advocating a gold standard without advocating one himself. One can be in favor of coining gold without favoring a gold standard. Any "standard" is antithetical to competing currencies--and he clearly favors competing currencies.



    How do you feel about #3?
    More quotes from Ron from that same article:

    My belief that periods of monetary disorder always focus attention on gold as the solution is strengthened by the recent occasion of a congressionally mandated Gold Commission, on which I was proud to serve. It was created in response to the high rates of inflation in the late 1970s and a rising cry from the general public to restore gold to its rightful monetary role.

    Most people know of the Gold Commission merely what the press reported — that it rejected a return to the gold standard. I believe the true significance of the Gold Commission is that the politicians and central bankers were so alarmed at such a thing that they made sure it was packed by an array of Keynesians and monetarists. These advocates of the established institutions and arrangements certainly don’t want any role for gold to threaten their cozy theories about scientific monetary management and macroeconomic planning.
    And I just saw @specsaregood's quote:
    lol, wait until he finds out that we can't print gold to fund his budget.
    And cracked up- I totally agree!
    There is no spoon.

  12. #10

  13. #11
    Quote Originally Posted by nikcers View Post
    Trump is just trying to destroy the dollar to force people to move to alternate currencies, this is just a 4d chess move. Check mate China.
    That's right. Just wait until people start using the yuan as their reserve currency, and the value of Chinese savings accounts skyrockets because of price deflation. Suddenly they'll be afflicted by a huge middle class! That'll show 'em!
    Quote Originally Posted by Swordsmyth View Post
    You only want the freedoms that will undermine the nation and lead to the destruction of liberty.

  14. #12
    Quote Originally Posted by acptulsa View Post
    One can quote Mises advocating a gold standard without advocating one himself. One can be in favor of coining gold without favoring a gold standard. Any "standard" is antithetical to competing currencies--and he clearly favors competing currencies.
    You can be in favor of competing currencies AND favor a gold standard.

  15. #13
    Quote Originally Posted by Madison320 View Post
    You can be in favor of competing currencies AND favor a gold standard.
    Can you?

    A 'standard', last I checked, is an official currency. You can say either is better than what we have now. But you can't have both at once.
    Quote Originally Posted by Swordsmyth View Post
    You only want the freedoms that will undermine the nation and lead to the destruction of liberty.

  16. #14
    Quote Originally Posted by acptulsa View Post
    Can you?

    A 'standard', last I checked, is an official currency. You can say either is better than what we have now. But you can't have both at once.
    Well, he has also advocated for the gold standard in that "at least it would be constitutional".

  17. #15
    You guys are all right, Ron favors a gold standard or basically a more decentralized market based standard, whatever the free market ends up using as currency he thinks the market would probably move to a gold standard if we allowed it to by getting rid of legal tender laws and allowing competing currencies, he recently has said it could very well move to a digital currency like bit coin but he doesn't necessarily think that it would happen but that it could happen.

  18. #16
    Quote Originally Posted by acptulsa View Post
    Can you?

    A 'standard', last I checked, is an official currency. You can say either is better than what we have now. But you can't have both at once.
    You're right, I didn't mean "standard" I meant "prevailing" or "main". In other words you'd have an open competition and gold would win. But it wouldn't be forced on us.



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  20. #17
    Trump isn't thinking about a gold standard.

    The author of that article writes about nothing but the gold standard and has been around forever. He has to write something.



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