|
|
Post by lifewasgood on Sept 10, 2011 12:53:36 GMT -5
Not if Gold and Silver were controlled by the Treasury and the dollars were printed according to fiscal needs. The value of US gold could easily be a fixed price and increased/decreased as necessary through congressional process and presidential signature, similar to raising the debt ceiling, only this would be reallocation of dollars to gold/silver.
Yes, this would eliminate the need for private ownership as the dollar would be backed by the metal. It would also eliminate fractional reserve banking and the need for a central banking system and FED reserve.
|
|
|
|
Post by lifewasgood on Sept 10, 2011 13:23:29 GMT -5
And all he had to do is adjust the price of gold (which had been fixed for decades and not adjusted for inflation) to accommodate the need for more dollars.
|
|
|
|
Post by lifewasgood on Sept 10, 2011 13:38:03 GMT -5
Disagree. The Treasury should place the value of the US currency and your augment only works because we became the reserve currency. That was part of the deal with unleashing gold. The dollar being the reserve currency is why we are in a fiat mess today and currency wars are getting hotter and hotter. If we were on the gold standard, no need for us to borrow money from other countries. Providing we eliminated fractional reserve banking practices, which gets back to eliminating the Federal Reserve and Central banking scheme.
|
|
|
|
Post by lifewasgood on Sept 10, 2011 13:52:58 GMT -5
I agree, and that is what needs changed, just as the founders put monetary control in the constitution and many founders warned against just what has happened.
|
|
|
|
Post by frankq on Sept 10, 2011 14:17:08 GMT -5
I agree, and that is what needs changed, just as the founders put monetary control in the constitution and many founders warned against just what has happened. The founders put a lot of stuff into the Constitution, and when they were done, many went home to their farms and plantations where slaves performed the manual labor even though "All men were created equal". I'm sure the the "fathers" could not have envisioned the type and number of financial instruments we have today. |
|
|
|
Post by lifewasgood on Sept 10, 2011 14:22:20 GMT -5
Not if the gold were set at $2500 dollars and Silver $100 and ounce. All other goods and services would contract to the amount of dollars available meaning lower prices and stable currency.
|
|
|
|
Post by lifewasgood on Sept 10, 2011 14:26:16 GMT -5
The founders also put a method in the constitution to amend if necessary. Unfortunately the progressives and socialist not having the voting block to execute an amendment have opted to circumvent the constitution with executive orders, legislating from the supreme court and enacting law with no constitutional review.
|
|
