Kevin_Kennedy
Defend Liberty
- Aug 27, 2008
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- #81
How much gold bullion do you actually own, that you have ready access to touch and feel, or do you own certificates or futures (paper) where the actual, physical gold is held by someone else? (What's your address, I'll send my boys over-- LOL); and that's my point. US may as well use uranium as basis for currency, any other metal (or all of them), plus capital goods, inventory, federal lands & assets, etc. Gold is just a preference. You're obsessed with one element of nature and you don't have a rational explanation why. You would likewise have other people in thrall to the same yellow metal, again for no rational reason. That dumbs us all down.
100% reserves isn't practical, trillions (in credit) outstanding today, which is what made this rich and diverse economy you love, possible. The only problem with that is, we're working for bankers and not for ourselves. You're still defending banking even when you know they're crooks and the reason for our tax system. Why not just pay bank owners a distribution fee? Gummint could just print enough money for that, no %. Me thinks you still like the idea of earning money for nuthin' (letting it sit somewhere to accrue.) With Uncle Sam as lender of record to everyone at 0%, would be difficult for private lenders to get a leg up, and that would be a good thing.
Gold and silver have historically been chosen by the market as the commodity of choice because of their value and the ability to put them into different forms to be used. However, any commodity backing the currency that the market chose would be fine. But having a commodity standard doesn't "enthrall" us, it frees us. It frees us from having our money diluted by a central bank or federal government, and it would free us from the business cycle. Yes, I'd rather my money gain in value than lose value, and why shouldn't I?