Steve Forbes: The Gold Standard Is Coming

[GeorgiaAvenger]

Linked by Rand Paul on Facebook.

http://www.forbes.com/sites/steveforbes/2012/09/05/gold-standard-is-coming/

 

[Sola_Fide]

Many Tea Party activists, as well as others, are starting to examine the gold issue. The subject is no longer Ron Paul’s monopoly.

Yeah, but the things is (what I've experienced) is that Tea Partiers still don't understand what a free market in money is.

 

[GeorgiaAvenger]

Yeah, but the things is (what I've experienced) is that Tea Partiers still don't understand what a free market in money is.

They are coming along. Even Herman Cain wrote an op-ed endorsing a new gold standard. This was long after he dropped out.

 

[GeorgiaAvenger]

Shoot, this is what Newt had to say: Gingrich: I'd Recommend Pro-Gold Activists for Romney Gold Commission

 

[Carson]

At the rate things are going I don't think there will be any other option. We may still trust in God but I'm thinking a trade is going to require more than just a piece of paper that's value is a moving target.

 

[ctiger2]

The last thing we need is a government mandated gold standard with the fed in charge. It isn't WHAT money's that important. It's WHO controls it which is.

 

[LibForestPaul]

private gold minting

private gold mint

http://www.coinfacts.com/historical_notes/history_of_moffat_and_company.htm

multiple companies

 

[wgadget]

Competing currencies, as Our Hero calls it.

 

[jclay2]

TPTB will give up their ability to print and manipulate when hell freezes over. This is not happening. Keep stacking the physical and let them print and devalue their merry way to 0.

 

[fr33]

Competing currencies, as Our Hero calls it.

Yep the gold standard alone would not solve our problems. Remove the monopoly the fed has should be good enough.

 

[Indy Vidual]

What happens to the National debt?
We owe a Billion pounds of gold...?

 

[puppetmaster]

TPTB will give up their ability to print and manipulate when hell freezes over. This is not happening. Keep stacking the physical and let them print and devalue their merry way to 0.

That is correct

 

[jkr]

no debt
f the bank$ter$

 

[cbc58]

How fair is it to the population to go to a gold standard, devalue the dollar and peg the value of gold at say $5,000 an ounce - and than those who don't old gold are wiped out and shit out of luck? I own some gold - just a question. please no responses like "it's their own damn fault for not knowing what's going on".

 

[Seraphim]

Better off just devaluing the currency with no peg and allowing gold to rise through market forces.

Now; if the USG decided to actually back the USD with gold, there would be a massive International council formed to RENEGOTIATE current debts to be settled in gold - and likely new rates of interest on any outstanding debts.

How fair is it to the population to go to a gold standard, devalue the dollar and peg the value of gold at say $5,000 an ounce - and than those who don't old gold are wiped out and shit out of luck? I own some gold - just a question. please no responses like "it's their own damn fault for not knowing what's going on".

 

[youngbuck]

Better off just devaluing the currency with no peg and allowing gold to rise through market forces.

Now; if the USG decided to actually back the USD with gold, there would be a massive International council formed to RENEGOTIATE current debts to be settled in gold - and likely new rates of interest on any outstanding debts.

And gold would almost for sure skyrocket in price. Idk, $10k/oz?

 

[Seraphim]

Higher, probably.

It's a guessing game though.

And gold would almost for sure skyrocket in price. Idk, $10k/oz?

 

[cbc58]

what if it wasn't used as a peg?

 

[Seraphim]

As in, a negotiated price to settle debts and trade deficits?

That was essentially what I was alluding too - negotiations to refinance debts and pay them off/down.

what if it wasn't used as a peg?

 

[cbc58]

i tend to think the price of gold would drop like a rock if people found out it wasn't going to be used as a peg. would still be valuable but not like it's been puffed up to be. that is a unpopular view but I have made mention before of an old jeweler friend who went through the depression and he told me stories of people turning just about anything in for food. food was the most valuable commodity above all. of course things are different now... or are they?