Getting back to the Gold Standard? How can it be done…
(media.greatawakening.win)
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It can’t.
Yes it can, and will.
Of course, the number of dollars per ounce of gold will be shockingly high when pegged to gold, but then, a $20 bill and an ounce of gold used to have the SAME VALUE. You could slap a $20 bill down on the counter at a hardware store or a bank and exchange it for a $20 gold piece -- a one-ounce gold coin. Foreign nations could bring as much US paper currency as they had collected to the Mint and exchange that paper for gold at $20 per ounce. (Gold was actually $20.67 in this scheme; the extra was the seignorage, which paid for the minting of gold into the coins; thus a $20 gold coin actually contained a bit less than one ounce of gold -- but, the important point: it was a fixed and unchanging amount. We'll ignore the slight difference from here on).
Henry Ford made the news when he doubled his production-line workers' wage from $2.50/week to $5/week. Five dollars was a quarter-ounce of gold.
Today, the heavily suppressed price of gold (a long topic for another time; "paper gold" plays a big part in it) is bobbling between $1800 and $2000. But the number of dollars out there has increased far beyond anything that would allow a gold peg at those prices, so going back to a gold standard would require either a huge number of dollars per ounce, or a "new dollar" (a common tactic when inflation has destroyed the currency, as it ALWAYS does eventually) with a higher value per unit, or a partial backing -- which seems the most likely although it would be my least favorite option.
There are indications that both Russia and China may be planning such a move, with gold fully or (more likely) partially backing their currency. If the United States wants to remain anything like a "superpower" it WILL have to back its currency with something real, and nothing fits the bill like gold.
https://qagg.news/?q=%23%232619
Do we have the gold?
Yes.
Gold shall destroy the FED
Q
Ummmm, “Gold shall destroy The Fed” doesn’t mean a Gold Standard necessarily.
I agree, but I think without gold convertability, our currency will never be taken seriously in a world where other large nations have even poorly designed and implemented gold backing. Digitial currency is being pushed by governments almost entirely because it allows for total control over people's spending habits; everything money-related can be turned off at will and pressure of varying types can be applied to encourage this and discourage that. Gold and cash are havens of freedom, as would be Bitcoin if it were as safe and private as people think.
You are on the right track for sure. I just don’t know that Gold will back the Dollar. Who knows if the US even has any gold? When was the last audit?
If you account for 0 exports from China and Russia for years now, you could see it where they have way more Gold than the US.
See my point :)
Hey, not pretending to know the answer... fiat is a scam for sure!