28 Comments on Ted Cruz backs return to gold standard
Can we really ever go back to the gold standard? If we did, what would the price (value) of gold be, $1 Million per ounce?
Just what I was thinking, hyper-inflation. What will the ‘investors’ do to the price of gold if the dollar is based only on gold? Or does it work backwards, if gold is $1million an ounce, does everything else become worth less? Or does the media make it a non-issue – you don’t need to worry about it because our wondrous politicians have it all figured out. Squirrels.
This is a very good idea. I’d opt to disband the Federal Reserve as well. Creation of the Fed and abandoning the gold standard were both progressive initiatives to suspend reality.
While I like the idea, I’ve heard that you couldn’t do it because there’s not enough gold in the world.
The debt? Just default. All the people who “invested” in tyranny can just go to hell.
boy is mr cruz brave.
threatening the fed has always been the precursor to assassination of the presidents in case you want to know.
I think andy jackson was the only one to survive the attempt and disband or revoke the charter of the fed if I am not mistaken.
central bankers are in control. lybia didn’t have a central bank until kahdfi was removed. he threatened to create a currency backed by gold. what happened to him?
Is there any gold reserve in the federal warehouses? I heard it was taken from Ft Knox long ago.
I suspect sticky government fingers have squirted it away. Politicians don’t get as rich as they are on government salaries. I suspect Obama has a few off shore accounts, perhaps in Iran and other countries he favors. And they are growing with each trick he uses to throw America under the bullet train.
Congress and the president’s have robbed Social Security, Medicare, the Post Office, the Defense Department and if they run out of money there, create another Department. All unaccountable and unaudited.
Do not forget, each employee contributes to Social Security and Medicare AND those are MATCHED DOLLAR FOR DOLLAR BY THE EMPLOYEE!
We really need to turn out the robber barons and begin anew with representatives. LIMIT THEIR TERMS, AT THEIR NEXT ELECTION. The damn smug bastards. Sneaking votes in the night. Playing their stupid grades school games. Smarten up America, while you still can.
Read the Bracken Trilogy.
Oh my, ‘squirted’ should have been ‘squirreled’ away.
The idea that a currency’s value is based upon how much of a single commodity its nation controls is ludicrous. It is the strength of a nation that lends value to its currency.
Relatedly, though, the Federal Reserve has got to go. It is federal meddling in finance that has been the worst impact on our nation over the past century. The federal government should be a tool of the people, not the other way around.
World supply of gold estimated to be between 6-10 billion ounces. At $1600/ounce that is worth somewhere between $9-$16 Trillion. The entire worlds supply of gold cannot pay off our national debt. I don’t see how it is possible to aver go back. Maybe a smart person can explain it to me.
There’s always enough gold. It is divisible. The question would be the “value” per unit of measure. Lot of suicides for those holding “gold paper”.
Bill, Karen Hudes is very knowledgeable, but I just couldn’t take another 5 minutes of the interviewer looking out into space and just making me uncomfortable.
Good video Bill. The sovereign citizens movement has known about this for a long time. Unfortunately the media has painted sovereign citizens as crazy and conservatives believe them.
We were on the gold standard when FDR arbitrarily changed the price of gold and made it illegal for Americans to own any – even gold coins that had been struck by our government for currency.
The gold standard didn’t stop the hyperinflation of Germany after WWI and it never prevented politicians from spending their countries into economic collapse.
Might as well use sea shells or tulips. Same result.
What we MUST do is make it illegal for the government to go into debt. If the taxpayers don’t want a program, the politicians should not be able to finance it by laying responsibility for it on future generations. That truly is taxation without representation and illegal no matter how pious the intention.
Just because you have a monetary policy tied to gold doesn’t mean there’s a 1:1 relation. Paper can leverage it. Say gold is $1000 per ounce, at a 2:1, they could issue $2000 in dollars for 1 oz, and adjust that ratio as required up or down.
Except that the Chinese are going to get their “money” one way or another — whether it’s federal land or gas/oil. They WILL collect.
They say Reagan brought it up once. Recall, his survival was reported to be by the bullet resting one half inch away from his heart.
I assume you’re being funny.
Woodrow Wilson, FDR, and other assorted socialists formed the Fed in 1913.
So, after it is leveraged, in order for me to buy an ounce, I would need $2,000 cash right?
Baby steps: first reinstate the Silver standard, then gold.
“Suspend reality” = open the gate for epic larceny ?
To paraphrase Will Rogers (about land), “Don’t wait to buy gold, buy gold and wait.”
I only wish in his arrogance, Obola had printed currency with his likeness on it. In the event it does become worthless and better used as TP.
Over the span of time many things have been used as the “standard” and it doesn’t really make a helluva lot of difference what that “standard” is – as long as it’s “standard.”
Rice
Salt
Iron
Gold
Silver
Horse
Nothing has “intrinsic” value. If you have gold, but no food, you’ll trade. If you have ammo but no gun or gold or food, you’ll trade. If you have food but no gold, you may trade, depending on the long term outlook. Whatshisname, the tyrant of somewhere, paid off the Spartans with gold-clad lead (Plumbum) and thought he’d pulled one over on them till they killed him. Apparently, they didn’t put much stock in the lead “standard.”
Attacking the Federal Reserve just enhances the bona fides of Conservative Republicans among certain groups.
ALL in favor, but be careful Ted. JFK wanted to do the same, and you see where it got him… 😳
Investment in lead, coupled with brass and cordite will probably be the most immediately useful…
I know a guy who has been buying ammo since Bounel was running for King, and he has over 400,000 rounds of .22, let alone whatever else.
Gold can’t be eaten, worn, or shot, but it can be outlawed.
Q: using a semi-automatic, how long would it take to expend 400,000 rounds?
Can we really ever go back to the gold standard? If we did, what would the price (value) of gold be, $1 Million per ounce?
Just what I was thinking, hyper-inflation. What will the ‘investors’ do to the price of gold if the dollar is based only on gold? Or does it work backwards, if gold is $1million an ounce, does everything else become worth less? Or does the media make it a non-issue – you don’t need to worry about it because our wondrous politicians have it all figured out. Squirrels.
This is a very good idea. I’d opt to disband the Federal Reserve as well. Creation of the Fed and abandoning the gold standard were both progressive initiatives to suspend reality.
While I like the idea, I’ve heard that you couldn’t do it because there’s not enough gold in the world.
The debt? Just default. All the people who “invested” in tyranny can just go to hell.
boy is mr cruz brave.
threatening the fed has always been the precursor to assassination of the presidents in case you want to know.
I think andy jackson was the only one to survive the attempt and disband or revoke the charter of the fed if I am not mistaken.
central bankers are in control. lybia didn’t have a central bank until kahdfi was removed. he threatened to create a currency backed by gold. what happened to him?
if you haven’t watched this yet, I would recommend you do.
https://youtu.be/eMSF8mCR6M0
Is there any gold reserve in the federal warehouses? I heard it was taken from Ft Knox long ago.
I suspect sticky government fingers have squirted it away. Politicians don’t get as rich as they are on government salaries. I suspect Obama has a few off shore accounts, perhaps in Iran and other countries he favors. And they are growing with each trick he uses to throw America under the bullet train.
Congress and the president’s have robbed Social Security, Medicare, the Post Office, the Defense Department and if they run out of money there, create another Department. All unaccountable and unaudited.
Do not forget, each employee contributes to Social Security and Medicare AND those are MATCHED DOLLAR FOR DOLLAR BY THE EMPLOYEE!
We really need to turn out the robber barons and begin anew with representatives. LIMIT THEIR TERMS, AT THEIR NEXT ELECTION. The damn smug bastards. Sneaking votes in the night. Playing their stupid grades school games. Smarten up America, while you still can.
Read the Bracken Trilogy.
Oh my, ‘squirted’ should have been ‘squirreled’ away.
The idea that a currency’s value is based upon how much of a single commodity its nation controls is ludicrous. It is the strength of a nation that lends value to its currency.
Relatedly, though, the Federal Reserve has got to go. It is federal meddling in finance that has been the worst impact on our nation over the past century. The federal government should be a tool of the people, not the other way around.
World supply of gold estimated to be between 6-10 billion ounces. At $1600/ounce that is worth somewhere between $9-$16 Trillion. The entire worlds supply of gold cannot pay off our national debt. I don’t see how it is possible to aver go back. Maybe a smart person can explain it to me.
There’s always enough gold. It is divisible. The question would be the “value” per unit of measure. Lot of suicides for those holding “gold paper”.
Bill, Karen Hudes is very knowledgeable, but I just couldn’t take another 5 minutes of the interviewer looking out into space and just making me uncomfortable.
Good video Bill. The sovereign citizens movement has known about this for a long time. Unfortunately the media has painted sovereign citizens as crazy and conservatives believe them.
Texas is already doing it.
http://www.goldcore.com/us/gold-blog/gold-bullion-worth-1-billion-to-be-repatriated-from-ny-fed-to-new-texas-bullion-depository/
We were on the gold standard when FDR arbitrarily changed the price of gold and made it illegal for Americans to own any – even gold coins that had been struck by our government for currency.
The gold standard didn’t stop the hyperinflation of Germany after WWI and it never prevented politicians from spending their countries into economic collapse.
Might as well use sea shells or tulips. Same result.
What we MUST do is make it illegal for the government to go into debt. If the taxpayers don’t want a program, the politicians should not be able to finance it by laying responsibility for it on future generations. That truly is taxation without representation and illegal no matter how pious the intention.
Just because you have a monetary policy tied to gold doesn’t mean there’s a 1:1 relation. Paper can leverage it. Say gold is $1000 per ounce, at a 2:1, they could issue $2000 in dollars for 1 oz, and adjust that ratio as required up or down.
Except that the Chinese are going to get their “money” one way or another — whether it’s federal land or gas/oil. They WILL collect.
They say Reagan brought it up once. Recall, his survival was reported to be by the bullet resting one half inch away from his heart.
I assume you’re being funny.
Woodrow Wilson, FDR, and other assorted socialists formed the Fed in 1913.
So, after it is leveraged, in order for me to buy an ounce, I would need $2,000 cash right?
Baby steps: first reinstate the Silver standard, then gold.
“Suspend reality” = open the gate for epic larceny ?
To paraphrase Will Rogers (about land), “Don’t wait to buy gold, buy gold and wait.”
I only wish in his arrogance, Obola had printed currency with his likeness on it. In the event it does become worthless and better used as TP.
Over the span of time many things have been used as the “standard” and it doesn’t really make a helluva lot of difference what that “standard” is – as long as it’s “standard.”
Rice
Salt
Iron
Gold
Silver
Horse
Nothing has “intrinsic” value. If you have gold, but no food, you’ll trade. If you have ammo but no gun or gold or food, you’ll trade. If you have food but no gold, you may trade, depending on the long term outlook. Whatshisname, the tyrant of somewhere, paid off the Spartans with gold-clad lead (Plumbum) and thought he’d pulled one over on them till they killed him. Apparently, they didn’t put much stock in the lead “standard.”
Attacking the Federal Reserve just enhances the bona fides of Conservative Republicans among certain groups.
ALL in favor, but be careful Ted. JFK wanted to do the same, and you see where it got him… 😳
Investment in lead, coupled with brass and cordite will probably be the most immediately useful…
I know a guy who has been buying ammo since Bounel was running for King, and he has over 400,000 rounds of .22, let alone whatever else.
Gold can’t be eaten, worn, or shot, but it can be outlawed.
Q: using a semi-automatic, how long would it take to expend 400,000 rounds?