End the Fed!

Gold is somewhere $2500 an oz, Platinum & Palladium over $1000, silver on the low end $32

Can anyone here tell me if Ft Knox can cover our 30-odd trillion debt?

~S~
 
and go back to a gold standard.
Why?
It doesn’t have to be gold, but currency should be backed by some sort of tangible asset. It’s a hedge against runaway printing of fiat currency, which devalues said currency and, if left unchecked, crashes it.
Borrowing at interest from a group of private banks is silly,
Who would you rather borrow from?
I’d prefer not to borrow at all. If we don’t have revenue to cover expenses, we cut the expenses.

when we have the ability to print our own currency.
Do you disagree?

I do not agree that printing to cover a deficit is better than borrowing.
Neither is better. Not spending money you don’t have is best.
If so, why?
Inflation.
Agreed. In inflation is undesirable. My point is, if you have to print money, why pay interest on it to a third party? Ideally, we could only print money that we had gold to back up.
 
It doesn’t have to be gold, but currency should be backed by some sort of tangible asset. It’s a hedge against runaway printing of fiat currency, which devalues said currency and, if left unchecked, crashes it.

I’d prefer not to borrow at all. If we don’t have revenue to cover expenses, we cut the expenses.


Neither is better. Not spending money you don’t have is best.

Agreed. In inflation is undesirable. My point is, if you have to print money, why pay interest on it to a third party? Ideally, we could only print money that we had gold to back up.

I’d prefer not to borrow at all. If we don’t have revenue to cover expenses, we cut the expenses.

Sounds good to me.

Neither is better. Not spending money you don’t have is best.

100%.

In inflation is undesirable. My point is, if you have to print money, why pay interest on it to a third party?

Should we balance the budget and then print $34 trillion to pay off the debt, so we'd
pay no interest?
 
Should we balance the budget and then print $34 trillion to pay off the debt, so we'd
pay no interest?
Not unless we have enough gold (or other tangible asset) to back that $34 trillion. Ideally, we’d cut spending below revenue levels and begin paying down the debt, just like responsible adults do IRL.
 
Not unless we have enough gold (or other tangible asset) to back that $34 trillion. Ideally, we’d cut spending below revenue levels and begin paying down the debt, just like responsible adults do IRL.

You don't understand why we borrow instead of printing, but you don't want to print unless we have $1 in assets for every dollar printed?
 
You folks do know what credit derivatives took a debt driven economy to those banking on the failure of it?

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~S~
 
You don't understand why we borrow instead of printing, but you don't want to print unless we have $1 in assets for every dollar printed?
I use logic and common sense, financially speaking. $34 trillion in debt says we’re doing something very wrong.
 

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