Page 1 of 8 12345 ... LastLast
Results 1 to 10 of 72

Thread: The Federal Reserve and stolen gold

  1. #1
    jcrowley1985

    Default The Federal Reserve and stolen gold

    Thought I'd take June's advice and make my own thread since he wasn't appreciating me enlightening other threads with this. This being the real reason Detroit went bankrupt and why many other American cities are to follow. The fact that since 1970 our money has been made worthless by Nixon taking us off the gold standard and allowing the privately controlled Federal Reserve Bank to steal the nations gold reserves. Using their new power to endlessly print money, they are making it impossible for Americans to pay upkeep on their properties in order to acquire said properties.

    Discuss.

  2. #2
    June

    Default

    Right...enlighten...

    The issue is, our money is not worthless.

    "Worthless" implies that if I hand a clerk a twenty dollar bill for my lunch, he will reject it. It implies that the money in my bank account will not be able to cover the first semester's housing fee in a month. The Federal Reserve notes in your pocket are not worthless, actually. You can try the above for yourself. If by worthless you refer to the fact each note is not backed by an amount of a useless metal, then I must ask what your point is. The truth is, if we went back to the gold standard, it would be even harder for people to pay for their properties and keep up with payments, as the massive deflation would give the debt creditor's initiated debts a higher price to pay.

    Our current monetary system isn't simply "endlessly printing money", as you claim. That would be the equivalent of having basically no monetary system, and you would have to pay hundreds, thousands, or millions of dollars for a sandwich. Yet, you do not, because the value of your dollar is based on the nation's economic growth and decline. And if our dollars were based on the amount of useless blocks of metal the US owns, we could not grow at all, as our dollars would be limited to the amount of gold we owned. It's a primitive, obstructive, and overall sloppy system, one that we thankfully have put in the past for good.

  3. #3
    jcrowley1985

    Default

    The thing with gold and metals is that they can't be artificially produced to intentionally create inflation. It doesn't have to be gold, but it has to be something that is in finite supply. And it can become worthless, what about the zimbabwain dollar and german mark? Two examples of hyperinflation.

    "It's a primitive, obstructive, and overall sloppy system, one that we thankfully have put in the past for good."
    Last I checked, we still haven't amended the constitution to state otherwise.

    - - - Updated - - -

    also, the government should be the only ones allowed to issue this backed money, not a private bank like the Fed.

  4. #4
    June

    Default



    Quote Originally Posted by jcrowley1985 View Post
    The thing with gold and metals is that they can't be artificially produced to intentionally create inflation. It doesn't have to be gold, but it has to be something that is in finite supply.
    And the government doesn't print money just for the sake of creating money, as I said before. It prints money according to economic growth. If we can only print based on how much metal we own, our economy becomes stagnant and unable to grow. We can only hope that some miner strikes gold, rather than have useful control over it. So having money based on metal is more counterproductive than a fiat system could ever be.



    And it can become worthless, what about the zimbabwain dollar and german mark? Two examples of hyperinflation.
    So can coined money. The gold standard has a genuinely devastating example of hyperinflation during the California Gold Rush, when a whole egg cost a dollar. Even with the Federal Reserve notes that's absurd.



    "It's a primitive, obstructive, and overall sloppy system, one that we thankfully have put in the past for good."
    Last I checked, we still haven't amended the constitution to state otherwise.
    The chance of us going back to the gold standard in the future is about equal to the odds of the Civil Rights Act being repealed. Our society has always been progressive, and the newest generation favors the Democratic Party, which strongly supports our monetary system. So it's gone for good. Your dreams to return to the anti-utilitarian gold standard are nothing more than dreams.

    And above all, our current system is perfectly constitutional. Nowhere in the constitution does it forbid the federal government from issuing fiat money as legal tender.



    Quote Originally Posted by US Constitution
    No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts

  5. #5
    jcrowley1985

    Default

    Yes "No State", last I checked the federal government was comprised of 50 United STATES.

    Also, it's backwards that you say we print money in relation to economic growth. Where under a gold standard or any backed money supply, the intrinsic value of the commodity will promote economic growth. More people conducting transactions, the value of the gold goes up and the dollar gets stronger.

  6. #6
    June

    Default



    Quote Originally Posted by jcrowley1985 View Post
    Yes "No State", last I checked the federal government was comprised of 50 United STATES.
    And I'm comprised of 78 organs. So am I an organ?

    I'm comprised of more than fifty percent water. Does that make me water?

    I'm comprised of countless cells. Does that make me a cell?



    Quote Originally Posted by jcrowley1985 View Post
    Also, it's backwards that you say we print money in relation to economic growth. Where under a gold standard or any backed money supply, the intrinsic value of the commodity will promote economic growth. More people conducting transactions, the value of the gold goes up and the dollar gets stronger.
    Economic growth is not based on how much gold is worth. Economic growth is based on job creation, GDP, exchange rates, and other similar factors, but not the value of gold. So no, it's not backwards, it is what the government in fact does to give its money value. With a gold standard, economic growth is, in fact, limited by the amount of gold in reserves. With a fiat system, the economy can grow infinitely.
    Last edited by June; 20-Jul-2013 at 06:53. Reason: jc edited and added more to his post after I completed mine

  7. #7

    Default

    Oh God, this topic... jcrowley, do yourself a favor and give up the damn conspiracy theories that have NO PROOF. Everything you have tried showing as proof is so one-sided and INCONCLUSIVE. Nixon did what he had to do in the '70s as the Gold Standard is the primitive standard as I call it- Gold is a primitive currency and will be obsolete when we move from a cash society to a cashless society. I support a cashless society.

    This doesn't surprise me you wanna keep banging on the conspiracy theories. Conspiracy theorists like to see what they want to see and you want to see what you want to see. I support the Federal Reserve, I don't buy the conspiracies that the Titanic was sunk to create the Federal Reserve or that the Federal Reserve is responsible for wars. Bunch of conspiracy theory hooey I've had to listen to for the past 10 years.

    WildThing121675

  8. #8
    jcrowley1985

    Default



    Quote Originally Posted by June View Post
    And I'm comprised of 78 organs. So am I an organ?

    I'm comprised of more than fifty percent water. Does that make me water?

    I'm comprised of countless cells. Does that make me a cell?
    Each organ or cell does a job that contributes the the running of the organism so they are all responsible for the actions of the whole. Just like each state has a say in the functioning of the government.

    - - - Updated - - -



    Quote Originally Posted by WildThing121675 View Post
    Oh God, this topic... jcrowley, do yourself a favor and give up the damn conspiracy theories that have NO PROOF. Everything you have tried showing as proof is so one-sided and INCONCLUSIVE. Nixon did what he had to do in the '70s as the Gold Standard is the primitive standard as I call it- Gold is a primitive currency and will be obsolete when we move from a cash society to a cashless society. I support a cashless society.

    This doesn't surprise me you wanna keep banging on the conspiracy theories. Conspiracy theorists like to see what they want to see and you want to see what you want to see. I support the Federal Reserve, I don't buy the conspiracies that the Titanic was sunk to create the Federal Reserve or that the Federal Reserve is responsible for wars. Bunch of conspiracy theory hooey I've had to listen to for the past 10 years.

    WildThing121675
    Nixon did it to fund the Vietnam war, and we all saw how much support THAT had.

  9. #9
    June

    Default



    Quote Originally Posted by jcrowley1985 View Post
    Each organ or cell does a job that contributes the the running of the organism so they are all responsible for the actions of the whole. Just like each state has a say in the functioning of the government.
    What is your point? The federal government has more power than the states. Because fifty states make up the United States, that does not mean the federal government of the United States is a state, the subject forbidden from coining fiat money.

    Also, in case you missed my edit after you edited your previous post:



    Quote Originally Posted by June
    Economic growth is not based on how much gold is worth. Economic growth is based on job creation, GDP, exchange rates, and other similar factors, but not the value of gold. So no, it's not backwards, it is what the government in fact does to give its money value. With a gold standard, economic growth is, in fact, limited by the amount of gold in reserves. With a fiat system, the economy can grow infinitely.

  10. #10

    Default

    TOTAL BS jcrowley- it's an unproven conspiracy theory. Nice try barking up that conspiracy that has many times been debunked and disproven. May I ask what are you smoking and what makes you so paranoid to believe something that is NOT TRUE OR REAL. NIXON DID NOT STEAL GOLD. Bunch of conspiracy theory hooey. That gold is still there. Nice try... Conspiracy theorists... smh

    WildThing121675

Similar Threads

  1. Are Federal Employees Over-Paid?
    By funseeker in forum Mature Topics
    Replies: 9
    Last Post: 10-Jan-2012, 19:40
  2. Don't Ask, Don't Tell Repealed by... Federal Judge?
    By Fire2box in forum Mature Topics
    Replies: 18
    Last Post: 14-Sep-2010, 04:57
  3. Replies: 9
    Last Post: 22-Jan-2010, 03:01
  4. The Canadian Federal Elections!
    By Zeit in forum Mature Topics
    Replies: 27
    Last Post: 20-Oct-2008, 08:00

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
ADISC.org - the Adult Baby / Diaper Lover / Incontinence Support Community.
ADISC.org is designed to be viewed in Firefox, with a resolution of at least 1280 x 1024.