How important is the gold standard?
Thanks to David Douglas Hill for tagging me on Bruce Koerber’s post, “How important is the gold standard?” Bruce wrote – ‘Going back to the gold standard would be one of the two biggest deterrents to wars. Counterfeiting and its subsequent fraudulent debt fuels the flames of destruction. The other deterrent is discovery of the Manifestation of God and the tranquility that will bring to humanity.’
I only tag people when I give credit. Maybe I’m getting ever-grumpier with age but I do feel this option of tagging is somewhat over-utilised. However, on this occasion I’m pleased to have been tagged because this subject matter is more important than most people could ever imagine for it’s symptomatic of how our lives, indeed our history is shaped by a handful of people who have scant regard for the greater good & what’s morally justifiable. Anyway, this was my comment…..
Bruce Koerber is correct. While the jury is still out on whether God exists or not, certainly mankind has much to learn. The gold standard though is of critical importance but to begin to explain all the ins & outs of whether we could ever return to it, would take forever & a day. In short this should have been a rule that could never be broken by anyone! If a country was to print money out of thin air, then the most fundamental economic rules had to apply, period, no matter who it was. Obviously the more one prints money, the more one devalues one’s stock. Therefore it stands to reason – currency has to be based on something concrete or as it was before 1971, something metallic.
When Nixon signed the Petro-dollar deal in 1971 with the Saudis thus making it compulsory to trade oil in dollars & dollars only, he didn’t just move the goalposts; he effectively tore up the rule book. For this alone, Nixon should have been taken & shot. However, one would be foolish not to consider how most senior politicians in the West especially, are in the pockets of the Rothschild Zionist banking dynasty. I am in no doubt the Rothschilds used their large rodent Henry Kissinger to coerce Nixon into instigating this as part of their plan for eventual world domination.
Again briefly, the Petro-dollar deal meant every nation had to use the dollar to buy oil. Thus, every country had to maintain hefty dollar reserves. This allowed the US Federal Reserve Board, which incidentally is under Rothschild control, to print money willy-nilly. This led to an eruption in military expenditure, notably the establishment of US bases all over the world. This effectively ended the Cold War because there was no way the Russians could match or should I say, keep up with the US military budget. The downside to this was it gave the US carte blanche to run roughshod over anyone who so much as looked boss-eyed at them.
This inevitably led to America fighting wars that were only beneficial to the Rothschilds & their fiefdom Israel. With the dollar on the line, the US could not afford to let other nations wriggle out of the Petro-dollar deal because it could precipitate an avalanche of their currency which would result in economic meltdown. This is why Saddam & Gaddafi paid the ultimate price, not so much because they realised the dollar was technically worthless but because they tried to do something about it.
The dumping of the gold standard is also the chief reason the US is in this current predicament today with Russia & China. They were strong enough to say screw the Petro-dollar deal. Iran wants to do the same. One can clearly see a correlation between countries that yearn to break free from the shackles of the Petro-dollar & US foreign policy. Therefore, one can safely say the decision to leave the gold standard has shaped history.
What people need to realise is our history is littered with such incidents – politicians making decisions which have far reaching consequences yet the public have little or no knowledge of what’s occurring. Bill Clinton royally screwed us when he repealed the telecommunications act resulting in 50+ news outlets being whittled down to the 6 inherently corrupt major news conglomerates we have today. This in turn led to 9/11 & the anything but quintessential cover up. He also repealed the Glass/Steagal act which for decades had served to protect the public from banksters indulging in the 10 year pyramid scheme which enabled them to siphon off untold billions in 2008. We are still paying for this while the banksters are still awarding themselves billions in bonuses.
One can list several more examples. You may ask how our politicians could make such catastrophic decisions, moreover ones which were never part of any manifesto pledge? The answer is obvious. It’s the media’s job to inform the public of any such shenanigans. The problem is, they aren’t! Why? Because the Rothschilds don’t just own our politicians but the entire media apparatus too. This is why few people today have any idea of how a handful of gargantuan crooks really are calling the shots. Whatever democracy is, it’s nothing like what most of us think it is!
No gold bug here…..legal tender law is all to me…..well maintained by all governmental and public forces to wit, which America lacks of course, which would include a legally binding (with teeth) mission statement much as the bank of north Dakota has that “all profits must be plowed back into the economy of the state or given out as valid loans”… which doesn’t even address the need for new money as the economy and the population grows. The government would generate new money when taxes, tariffs and fees are insufficient for present bills, and there would never be a “deficit” or “:national debt”, they becoming archaic economic concepts…and any government that abrogated that could immediately be voted out of office, tried, fined, imprisoned as law allowed, much as Iceland threw all their bad banker in jail with, or as Italy has done over 60 times since WWII…true term limits and recall voting for all offices would also help…my new monetary plan is about 20 paragraphs long on my FB page. Loans would be paid back by banks to the government which would use that money for valid projects that benefit all citizens, like infrastructure, health, education, etc. and foreign investments would be limited awa many other changes that Nixon started as with the SEC and Glass-Steagall (with derivatives about to destroy the world of finance, etc.)…too many items to list quickly.
Thanks Tom – As I’m sure you know, I’m no expert on this subject. I’m merely fairly decent when it comes to using common sense to connect all the dots. What you say sounds great or should I say, morally correct, though I’m not sure if what you’re saying is basically nationalising all the banks. This is what I believe should happen. I feel the world needs to rid itself of usury & most especially banksters & billionaires.