Comments on: How to Return to the Gold Standard http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/ Ideas on Liberty Wed, 15 Feb 2012 04:40:14 +0000 hourly 1 http://wordpress.org/?v=3.3 By: stop spam plugin http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/comment-page-1/#comment-60199 stop spam plugin Tue, 07 Feb 2012 17:07:17 +0000 http://www.thefreemanonline.org/uncategorized/how-to-return-to-the-gold-standard/#comment-60199 <strong>Website we think you should visit...</strong> [...]we had trouble with massive spamy links on our website. now we use stop spam plugin. once again our website is clean[...]…... Website we think you should visit…

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]]> By: Blah http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/comment-page-1/#comment-53920 Blah Tue, 31 Jan 2012 19:52:20 +0000 http://www.thefreemanonline.org/uncategorized/how-to-return-to-the-gold-standard/#comment-53920 You don't need real gold coins to have a gold standard you could also use silver or copper or whatever if you wanted or a mix of different metals you simply say this paper currency is backed by a dollar of these metals that we actually have in a safe somewhere. If you want the gold or silver or copper we will give you the amount of whatever metal you want that is equal to the worth of your money meaning you have 100 dollars and you want to exchange it for one of the metals you specify the metal you want gold/silver etc. and they will give you 100 dollars worth of that metal! You don’t need real gold coins to have a gold standard you could also use silver or copper or whatever if you wanted or a mix of different metals you simply say this paper currency is backed by a dollar of these metals that we actually have in a safe somewhere. If you want the gold or silver or copper we will give you the amount of whatever metal you want that is equal to the worth of your money meaning you have 100 dollars and you want to exchange it for one of the metals you specify the metal you want gold/silver etc. and they will give you 100 dollars worth of that metal!

]]> By: LordMarcus http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/comment-page-1/#comment-49975 LordMarcus Sun, 06 Nov 2011 17:55:25 +0000 http://www.thefreemanonline.org/uncategorized/how-to-return-to-the-gold-standard/#comment-49975 hello. i think there is a problem with geting real-gold coins into circulation. is just not rigth. also fixing a gold-dollar price is for any given period is still artifititial and still a distortion and should not be done. my suggestion is this: issue a "new dollar" yes paper money, diferent desing and all. its face value represents a fixed mass of gold i.e. 100new$ = 1 gold gram (the gov is obliged to redeem the face value to any citizen in pure gold). and its legal tender. make it circulate alongside the old dollar and let the exchange rate bettew both run free. let it be legal tu put prices in both currencies. keep minting new$, stop mintin old$ and get then off circulation ASAP! oppinion? hello.
i think there is a problem with geting real-gold coins into circulation. is just not rigth. also fixing a gold-dollar price is for any given period is still artifititial and still a distortion and should not be done.

my suggestion is this: issue a “new dollar” yes paper money, diferent desing and all. its face value represents a fixed mass of gold i.e. 100new$ = 1 gold gram (the gov is obliged to redeem the face value to any citizen in pure gold). and its legal tender. make it circulate alongside the old dollar and let the exchange rate bettew both run free. let it be legal tu put prices in both currencies. keep minting new$, stop mintin old$ and get then off circulation ASAP!

oppinion?

]]> By: SamFox http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/comment-page-1/#comment-45696 SamFox Sat, 20 Aug 2011 06:24:54 +0000 http://www.thefreemanonline.org/uncategorized/how-to-return-to-the-gold-standard/#comment-45696 The article does not define the role of govt in a return to the GS. I bring this up because I read this: "The case for a free-market commodity money as provided by a genuine gold standard is simple yet decisive. It is based on the insight that the root cause of inflation in the modern world is the almost absolute monopoly over the supply of money which all national governments possess within their respective political jurisdictions. That such an arrangement necessarily produces inflation is not difficult to explain. To begin with, almost all governments obtain the bulk of their revenues through taxation which, regardless of its particular form, ultimately involves -- indeed, is definable as -- a coerced levy upon the monetary incomes or assets of its citizens, i.e., the net taxpayers. However, whatever ethical or practical considerations may be brought forward to justify taxation, since it is essentially coercive, tax increases have always found little favor among the citizenry So, ever fearful of arousing popular unrest, governments naturally sought alternative means for augmenting their revenues from taxation. It was for this purpose that all national governments eventually secured for themselves a legal monopoly of issuing money, empowering them to inflate, i.e., to create new money, virtually at will. " Quote from: http://www.cato.org/pubs/pas/pa016.html Myself I am new to this. so I have been looking around. The above link's article is rather long, but I think worth studying. Here is a list I found on returning to the gold standard. http://tinyurl.com/3jvjjzg To me this is VERY serious business! I think we should carefully consider eliminating the 'Fed' or at least putting it under the direct control of Congress & break the strangle hold of the private international bankers who presently own it. This means we must have an honest Constitutionally contained Congress & POTUS. Getting complicated already! :-) SamFox The article does not define the role of govt in a return to the GS.

I bring this up because I read this:

“The case for a free-market commodity money as provided by a genuine gold standard is simple yet decisive. It is based on the insight that the root cause of inflation in the modern world is the almost absolute monopoly over the supply of money which all national governments possess within their respective political jurisdictions. That such an arrangement necessarily produces inflation is not difficult to explain.

To begin with, almost all governments obtain the bulk of their revenues through taxation which, regardless of its particular form, ultimately involves — indeed, is definable as — a coerced levy upon the monetary incomes or assets of its citizens, i.e., the net taxpayers. However, whatever ethical or practical considerations may be brought forward to justify taxation, since it is essentially coercive, tax increases have always found little favor among the citizenry So, ever fearful of arousing popular unrest, governments naturally sought alternative means for augmenting their revenues from taxation. It was for this purpose that all national governments eventually secured for themselves a legal monopoly of issuing money, empowering them to inflate, i.e., to create new money, virtually at will. ”

Quote from: http://www.cato.org/pubs/pas/pa016.html

Myself I am new to this. so I have been looking around. The above link’s article is rather long, but I think worth studying.

Here is a list I found on returning to the gold standard.

http://tinyurl.com/3jvjjzg

To me this is VERY serious business! I think we should carefully consider eliminating the ‘Fed’ or at least putting it under the direct control of Congress & break the strangle hold of the private international bankers who presently own it. This means we must have an honest Constitutionally contained Congress & POTUS. Getting complicated already! :-)

SamFox

]]> By: Bachmann Also Takes Aim at Fed http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/comment-page-1/#comment-45614 Bachmann Also Takes Aim at Fed Thu, 18 Aug 2011 03:31:34 +0000 http://www.thefreemanonline.org/uncategorized/how-to-return-to-the-gold-standard/#comment-45614 [...] article on how to return to the gold standard How to Return to the Gold Standard | The Freeman | Ideas On Liberty In your last sentence you concede that Congress does not have control, therefore it is not [...] [...] article on how to return to the gold standard How to Return to the Gold Standard | The Freeman | Ideas On Liberty In your last sentence you concede that Congress does not have control, therefore it is not [...]

]]> By: Steve http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/comment-page-1/#comment-35760 Steve Sun, 28 Nov 2010 21:15:51 +0000 http://www.thefreemanonline.org/uncategorized/how-to-return-to-the-gold-standard/#comment-35760 I'm not some major economist, but I do know that our fiat money is the primary source of our inflation and instability because its value is totally arbitrary. Granted even the exchange standard of commodities with real value can be somewhat arbitrary in the beginning, but not as much, and eventually there would be enormous stability. One problem is having enough precious metal or other intrisincally valuable commodities to exchange for the old fiat money when the new system is introduced...doubtless there would be some grumbling about equity. Another is getting fiat monetary units out of the minds of the people and helping them to see the real value of gold, silver platinum, etc. in terms of weight, not dollars. That's the way money originally worked, but it gradually evolved into representative money, then eventually fiat money. Some people like the fiat money because it produces the illusion that more money for everyone means a better economy. It's just as crippling as deflation of the money supply because of the way it lowers the purchasing power of the dollar. I’m not some major economist, but I do know that our fiat money is the primary source of our inflation and instability because its value is totally arbitrary. Granted even the exchange standard of commodities with real value can be somewhat arbitrary in the beginning, but not as much, and eventually there would be enormous stability. One problem is having enough precious metal or other intrisincally valuable commodities to exchange for the old fiat money when the new system is introduced…doubtless there would be some grumbling about equity. Another is getting fiat monetary units out of the minds of the people and helping them to see the real value of gold, silver platinum, etc. in terms of weight, not dollars. That’s the way money originally worked, but it gradually evolved into representative money, then eventually fiat money. Some people like the fiat money because it produces the illusion that more money for everyone means a better economy. It’s just as crippling as deflation of the money supply because of the way it lowers the purchasing power of the dollar.

]]> By: Royce http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/comment-page-1/#comment-34269 Royce Fri, 15 Oct 2010 04:42:27 +0000 http://www.thefreemanonline.org/uncategorized/how-to-return-to-the-gold-standard/#comment-34269 This well written article is still being read 15 years after it was written. Impressive. Too bad we didn't listen in 1995. People who work and produce have everything to gain from a gold standard. It protects their savings. It limits governments-gone-wild. The able bodied who choose not to work and expect the rest of us to supply them with a check are the only ones who should fear the gold standard. Gold is honest money. This well written article is still being read 15 years after it was written. Impressive. Too bad we didn’t listen in 1995. People who work and produce have everything to gain from a gold standard. It protects their savings. It limits governments-gone-wild. The able bodied who choose not to work and expect the rest of us to supply them with a check are the only ones who should fear the gold standard. Gold is honest money.

]]> By: Monetary Policy for a Transformed America. | Franksummers3ba's Blog http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/comment-page-1/#comment-33319 Monetary Policy for a Transformed America. | Franksummers3ba's Blog Thu, 23 Sep 2010 03:01:10 +0000 http://www.thefreemanonline.org/uncategorized/how-to-return-to-the-gold-standard/#comment-33319 [...] I do not advocate the Spartan approach or the very different return to the gold standard. However, some do advocate it today. “There is no reason, technically or economically, why the world today, even with its countless wide-ranging and complex commercial transactions, could not return to the gold standard and operate with gold money. The major obstacle is ideological.” See the link: http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/#  [...] [...] I do not advocate the Spartan approach or the very different return to the gold standard. However, some do advocate it today. “There is no reason, technically or economically, why the world today, even with its countless wide-ranging and complex commercial transactions, could not return to the gold standard and operate with gold money. The major obstacle is ideological.” See the link: http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/#  [...]

]]> By: It's the Federal Reserve....stooopid! - Politics and Other Controversies -Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - Page 2 - City-Data Forum http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/comment-page-1/#comment-33100 It's the Federal Reserve....stooopid! - Politics and Other Controversies -Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - Page 2 - City-Data Forum Wed, 15 Sep 2010 01:54:18 +0000 http://www.thefreemanonline.org/uncategorized/how-to-return-to-the-gold-standard/#comment-33100 [...] Originally Posted by jetgraphics Precious metal coin is no solution, sad to say. Most people are unaware that under American law, people have the power to create their own money. Even Congress lacks that power. The "other" Solution: private promissory notes. A common example is a coupon for a free item or service. Fine print on said coupon will state 1/20 of a cent cash value - regardless of the actual value. If people awoke to their legal power to create their own medium of exchange, denominated in that which they can do or produce, they would side step the money drought. Such a private money system would only work within small communities where the issuers and traders are known for their "creditworthiness" (history of honorable behavior). Those who are not trustworthy - they have to deal in cash... whatever that will be. However, banks might become "coupon clearinghouses" where they'd discount private notes, and exchange them for widely circulating bank notes. As long as usury is not allowed, such discounting won't be a problem. How to Return to the Gold Standard | The Freeman | Ideas On Liberty [...] [...] Originally Posted by jetgraphics Precious metal coin is no solution, sad to say. Most people are unaware that under American law, people have the power to create their own money. Even Congress lacks that power. The "other" Solution: private promissory notes. A common example is a coupon for a free item or service. Fine print on said coupon will state 1/20 of a cent cash value – regardless of the actual value. If people awoke to their legal power to create their own medium of exchange, denominated in that which they can do or produce, they would side step the money drought. Such a private money system would only work within small communities where the issuers and traders are known for their "creditworthiness" (history of honorable behavior). Those who are not trustworthy – they have to deal in cash… whatever that will be. However, banks might become "coupon clearinghouses" where they'd discount private notes, and exchange them for widely circulating bank notes. As long as usury is not allowed, such discounting won't be a problem. How to Return to the Gold Standard | The Freeman | Ideas On Liberty [...]

]]> By: Kyle http://www.thefreemanonline.org/featured/how-to-return-to-the-gold-standard/comment-page-1/#comment-30796 Kyle Mon, 02 Aug 2010 14:25:37 +0000 http://www.thefreemanonline.org/uncategorized/how-to-return-to-the-gold-standard/#comment-30796 So let's see, they're probably just going to create money to pay off that $13T debt and pay for their operating deficit. The excess dollars cause devaluation of the dollar and we enter hyperinflation. Anybody who's stored their value in real assets like property or gold might be ok I think. I keep hearing about deflation, but this is the scenario I thought more likely. How else are they going to pay it off? You can't raise taxes that much, people will go out of business or revolt. People can't even find jobs as it is. Let's say they just said "sorry not paying" to every citizen owed money by the Feds. That could probably happen. People would lose fortunes and nobody would ever lend to the government again. People relying on Social Security would become homeless. Money Market savings would be wiped out. It's hard to say really, I'm not an economist, but I think I should probably find out. So let’s see, they’re probably just going to create money to pay off that $13T debt and pay for their operating deficit. The excess dollars cause devaluation of the dollar and we enter hyperinflation. Anybody who’s stored their value in real assets like property or gold might be ok I think. I keep hearing about deflation, but this is the scenario I thought more likely. How else are they going to pay it off? You can’t raise taxes that much, people will go out of business or revolt. People can’t even find jobs as it is.

Let’s say they just said “sorry not paying” to every citizen owed money by the Feds. That could probably happen. People would lose fortunes and nobody would ever lend to the government again. People relying on Social Security would become homeless. Money Market savings would be wiped out. It’s hard to say really, I’m not an economist, but I think I should probably find out.

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