I am reposting a response I made in another thread and expanding it. People don't appreciate what it would mean to "go to a gold standard" per H.R.2435. The idea is that it doesn't matter how much money there is, they can set the ratio of gold to dollar at whatever they want. "However much there is in present day dollars. It doesn't matter."
That's the first problem, so let's look at that:
How Much Is Gold Worth
According to the official narrative, there are about 8,133 metric tons of gold in U.S. reserves. I doubt that is true, I think it has been mostly moved into private bankers hands, but we'll go with it. There are 32,150 troy oz. per metric ton. That means there are, in reserve:
8133 metric tons times 32150 troy oz/metric ton ~ 261 million troy oz.
As for the total money that exists, the official number (not that I trust it, but we'll go with it) is between 40 trillion (narrow money), 90 trillion (broad money) or 1.3 quadrillion (derivatives, investments, etc.). With the amount of naked short selling, I wouldn't be surprised if you could double or triple that, so upwards of 4 quadrillion.
Putting this into perspective, we get one U.S. gold backed dollar is equal to:
- narrow money: 6.5e-6 oz
- broad money: 2.91e-6 oz
- derivatives: 2.01e-7 oz
- short sales: 6.5e-8 oz
These numbers don't mean much, so let me try to put it into something that makes a little more sense. Here is a picture of 1g of gold. It's not the best picture since it doesn't show the whole hand, but it shows that it isn't very much. Carrying that around, it would be pretty darn easy to lose it. But let me give you an idea of what one U.S. gold backed dollar would look like:
- narrow money: 1/5000 of a gram
- broad money: 1/11,000 of a gram
- derivatives: 1/160,000 of a gram
- short sales: 1/500,000 of a gram
Even with narrow money, think about dividing that gram picture into 5000 parts, then try to find it in your pocket. With short sales, divide it into half a million parts. It's almost easier to start measuring dollars in atoms of gold.
That 1g sells for about $130. This suggests it should be worth between $5000 and $500,000 if we were to move to a "gold standard" as things stand today.
For reference, that translates to between $150,000 and $15,000,000 per troy oz in today's money.
Now on to the next problem. The dollars that exist aren't money, they are debt. If we go to a "gold standard" there will still be all the debt, and the interest on that debt, that belongs to Megabank. If we move to a "gold standard," all that debt either needs to be paid off, or needs to be wiped out. But where does all the money reside?
Where's The Money
If we just look at narrow money (bank accounts, bank notes, etc.) that's the stuff that people have "on hand" (not really, because it's mostly in the fractional reserve shenanigans, but close enough). But who has the most money in bank accounts? According to this, the median bank account in America (in 2019) was about $5000, and the average was $42,000. That is a HUGE discrepancy, which means that the people with all the money have far more than the average person. The people with all the money are, in general, the Aristocracy AKA the Cabal. If we use the median this amounts to about $1.7 trillion (5000 times 330M people in America). Most of the rest of that $40T of narrow money lies in the hands of the very rich.
However, if we look at derivatives (not to mention naked short selling money) ALL of that money is in the hands of Megacorp.
So no matter how you divide it, as things stand today, the gold goes into the hands of the same people that rule the world right now.
Paying Off The Debt
If we don't wipe out all debt, then all those debts need to be paid off. But money is debt. Money comes to be when a debt is created. That's what "printing" money means. A loan is taken out, in one column a credit is given. This is money. In the other column a debt is created.
Money = Debt
BUT, that's not what really happens. A debt is paid back at interest.
Money + Interest = Debt
So all the DEBT in the world is equal to all the money PLUS all of the interest it has accrued, i.e. there is more debt than there is money. The debt can't be paid off. So all of that gold will eventually end up in the hands of the PTB, PLUS we will remain debt slaves forever.
With the current financial system, no matter how you slice it, all the power remains exactly where it is if we move into a "gold standard."
The system must fail. There is no other choice.
A complete barter system is problematic for exactly the reason you state, but a system that is sufficient to alleviate the problems is very much possible.
Imagine that all stocks are put on NFTs. Ownership of the stock is then clearly tied to you, and easily transferable by you. The stock has a clear value, thus it can be traded on an open market, or in a store, or whatever. As long as it's trading value is available, it can be accepted in exchange with ease. You could then buy your clothes with silver, or gold, or nickel, or copper, or titanium, or Gamestop Stock, or Apple Stock, or whatever.
That's just level one though.
Because if it can be tied to an NFT in a reasonable way, it can be used on an exchange market. Land is easily tied to an NFT for example. So are any other asset that holds value. It's value can be determined and/or agreed upon by inspection. People will really look at what they are being traded for. In a market the size of the whole US, or even the whole world, I suggest it won't be that hard to find a "buyer" for your car, or gun, e.g. in exchange for a plot of land somewhere else e.g, all of which can be tied to NFTs (though that isn't necessary in this case)..
I agree not everything translates this way perfectly, but if people learn how to barter, more and more things open up to be applied to such a system in a reasonable way. Exactly the way they used to do things before gold was invented (by the Cabal, thousands of years ago) as the de facto medium of exchange.
Ok now you are talking. Tieing things to an NFT would be a good idea.
If I created a software app to sell for a monthly subscription. How should people pay for that?
However they and you want. Will you take a share of GME for a years subscription? How about a quarter ounce of platinum? What about a baseball card, or online art? Anything that is reasonably exchanged can be exchanged through NFT's or in a marketplace.
We rely on currency because that is all we have ever known. There is no reason to do so.
Imagine that there is an app that keeps track of the value of all these NFT tied assets. You could easily accept anything that fits the value you have preset.
It's just not that hard to figure this stuff out.
The problem that general dollars solve is the idea that it’s a generalizes the medium of exchange.
The problem with the dollar isn’t the dollar itself. The problem is that they can print it out of thin air.
I still want a more generic medium form of exchange that it’s easy to accept and store
There are times where a person does not want anything of tangible value today:
So they would need to be able to hold something that they can purchase something later on.
If I decide to only accept NFTs that are backed by certain stocks for example. I now would have to think in advance who will accept that stock for future trade.
I think this could complicate things for seniors as well.
Whatever we do: it has to be as simple as we already have now.
I am thinking out loud on this one lol.
Work had taken my brain power down today.
No, these are two different problems.
A set standard intermediate of exchange of barter is, from the perspective of security, what's called a vulnerability. It has been, and I suggest must lead to manipulation. The simplest manipulation, and one that can't be stopped in a "free market" that isn't an actual free market (barter system) is hording.
ALL fuckery, prior to fractional reserve lending, throughout all of history, was caused by hording. For example, the fall of the Western Roman Empire is attributed to the hording of silver (accomplished through a short sale on land, which gathered all the silver into one groups pocket). This will happen with any set intermediary that is relied on by an economy.
I'm not sure you fully understood what I said. I'm not sure I can say it better, so perhaps reread it? At the least, you are thinking far too small and/or contriving problems that do not exist in what I have proposed.
Arguments about how "stupid people are" are not very good ones. People are a lot smarter than "those in the know" give them credit for. They have been brainwashed, they aren't stupid. Seniors can figure out barter just fine, don't you worry none. The one constant in society, is that people do what they need to do.
Considering that the reality of what we have now is just about the most complicated economic system that can possibly be contrived, I suggest this is not a problem.