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Thread: Powell Says No To Gold Standard - Who Should Run the Federal Reserve?

  1. #1

    Powell Says No To Gold Standard - Who Should Run the Federal Reserve?

    Federal Reserve Chairman Jerome Powell Tells Congress a Gold Standard is a Bad Idea

    https://smaulgld.com/powell-says-no-to-gold-standard-who-should-run-the-federal-reserve/


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  3. #2
    Powell said it won't happen? Well that settles it. Gold backing coming soon. Bankers lie about everything. Only believe something once it is officially denied...
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  4. #3
    Quote Originally Posted by devil21 View Post
    Powell said it won't happen? Well that settles it. Gold backing coming soon. Bankers lie about everything. Only believe something once it is officially denied...
    It's not the Fed's decision- congress would have to pass a law.
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  5. #4
    Quote Originally Posted by Smaulgld View Post
    It's not the Fed's decision- congress would have to pass a law.
    It isn't the decision of Congress either. The people can decide no matter what the law says.

    Also, no one should run the Fed. Abolish the Fed isn't just a slogan.
    “Maybe I forgot to mention something to you: I don’t believe in queens. You think freedom is something you can give and take on a whim. But to your people, freedom is as essential as air. And without it, there is no life. There is only darkness.” -Zaheer

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  6. #5
    Quote Originally Posted by PierzStyx View Post
    It isn't the decision of Congress either. The people can decide no matter what the law says.

    Also, no one should run the Fed. Abolish the Fed isn't just a slogan.

    The people can't decide unilaterally whether the government will have a gold standard. They can only "decide" via elected representatives who would pass legislation to implement a gold standard.

    You can eliminate the fed ( and the entire fed reserve system) and either replace it with a national bank run by the treasury or eliminate the fed and replace it with nothing
    Last edited by Smaulgld; 07-11-2019 at 03:28 PM. Reason: typo
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  7. #6
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    I think we all know that a gold standard would be good for the people and bad for the bankers and politicians... thus it is extremely unlikely to ever be restored.
    Citizen of Arizona
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  8. #7
    Quote Originally Posted by Smaulgld View Post
    The people can't decide unilaterally whether the government will have a gold standard. They can only "decide" via elected representatives who would pass legislation to implement a gold standard.

    You can eliminate the fed ( and the entire fed reserve system) and either replace it with a national bank run by the treasury or eliminate the fed and replace it with nothing
    Actually Congress would have to be the one to get rid of the Fed too.
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  9. #8
    Quote Originally Posted by Smaulgld View Post
    It's not the Fed's decision- congress would have to pass a law.
    It's quite obvious that Congressional leadership (Schumer and Pelosi represent two of three largest US banking cities, for example) will do whatever the bankers tell them to do, then they'll make their respective parties fall in line. Not that it's anything new, of course. Please don't tell me that you don't know that the bankers OWN Congress?!?!

    Quote Originally Posted by Cleaner44 View Post
    I think we all know that a gold standard would be good for the people and bad for the bankers and politicians... thus it is extremely unlikely to ever be restored.
    Unless they have control of all the gold first and then tie it to something new that they introduced, like a cryptocurrency. Meet new boss, same as old boss, just a new suit and haircut.
    Last edited by devil21; 07-11-2019 at 05:23 PM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
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  11. #9
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    Quote Originally Posted by devil21 View Post
    It's quite obvious that Congressional leadership (Schumer and Pelosi represent two of three largest US banking cities, for example) will do whatever the bankers tell them to do, then they'll make their respective parties fall in line. Not that it's anything new, of course. Please don't tell me that you don't know that the bankers OWN Congress?!?!



    Unless they have control of all the gold first and then tie it to something new that they introduced, like a cryptocurrency. Meet new boss, same as old boss, just a new suit and haircut.
    Don't you think the bankers much more money from inflating the money supply than they would from having control of all of the gold? I don't think I understand your premise.
    Citizen of Arizona
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    I am a libertarian. I am advocating everyone enjoy maximum freedom on both personal and economic issues as long as they do not bring violence unto others.

  12. #10
    a gold standard wouldn't work today.

  13. #11
    Quote Originally Posted by Cleaner44 View Post
    Don't you think the bankers much more money from inflating the money supply than they would from having control of all of the gold? I don't think I understand your premise.
    Currency inflation is in end stages, because we're hitting the law of diminishing returns. They have to change the game and 'reset' it eventually. What better way than to hoard up all metal (real money) at artificially suppressed prices via paper metals markets and then reset and declare the new currency gold backed? Few will have any metals of their own and will be at the complete mercy of the bankers, while their own "old money" holdings take a giant haircut, if not declared worthless?

    The real question to ask yourself is, "If I were a banker and I wanted to take over the entire world, how would I do it?" Watching your own cash wealth evaporate as currencies are destroyed wouldn't be part of your plan, would it?

    Quote Originally Posted by kfarnan
    a gold standard wouldn't work today.
    Gold standard isn't the same as gold backing. Powell is sorta telling the truth when he says no gold standard coming. What that implies is that gold backing (no redemption) is still very much an option, however. Bankers choose their words precisely so technically he's not lying but he's lying by omission using word games. We see the same tactics from Zippy all the time on econ/banking threads.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    Visiting the Outer Banks of NC?
    Outer Banks NC Fishing Boat Rentals



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