Where is all the Gold and Silver going to come from for this new "savior" currency that everyone is so sure of.

9 posts / 0 new
Last post
beatlebum19
beatlebum19's picture
Offline
Joined: 06/14/2011
Hat Tips: 89
Posts: 26
Where is all the Gold and Silver going to come from for this new "savior" currency that everyone is so sure of.

I am someone of the belief that we might need to use our bullion and junk coins for actual currency for a while. It seems like I'm in the minority when it comes to this as far as people on the site go. The consensus seems to be that the dollar will quietly and slowly dwindle away giving the government time to issue a "hero" currency enforced by the gold standard once again. I guess that seems like the logical solution since that's pretty much what happens in the currency cycle throughout history, and I do think eventually this is how it will be again. I just don't think it's going to bam here you go we're backed by gold again baby smooth sailing. Our Economy is so big with so many people (world wide) more than any currency debacle before. I believe it will be very difficult for certain governments our's being one of them to obtain enough physical to create an effective currency using the gold standard. So my question is to all of you who think the dollar will fade and gold standard will come right back when this happens is WHERE IS THE GOLD GOING TO COME FROM??? you can't just say ok we're back on the gold standard we have to have all the gold to back it up, and with our crumbling economy and unprecedented debt to other nations I don't see the transition being so easy.

Edited by admin on 11/08/2014 - 06:07

__________________

Get your hands off my stack.

PastTense
PastTense's picture
Offline
Joined: 06/14/2011
Hat Tips: 25
Posts: 20
If you revalue the gold to

If you revalue the gold to several thousand dollars an ounce, you will have enough gold. This is one of the places you get the rationale for several thousand dollar an ounce gold prices.

Pax Argentum
Pax Argentum's picture
Offline
Joined: 06/14/2011
Posts: 86
When Money Dies

PastTense wrote:

If you revalue the gold to several thousand dollars an ounce, you will have enough gold.

Gold revaluation is step 2. Step 1 is the Government having the gold in the first place. Rep. Paul is working on that one.

However, all this is academic fantasy IMO. The printing ponzi has worked supremely well for TPTB since 1913. Why would they change it now?

A 5 for 1 Dollar to Amero exchange I can see, but completely without hard money limits.

Pax

TheGoodDoctor
TheGoodDoctor's picture
Offline
Joined: 06/14/2011
Hat Tips: 11941
Posts: 1286
Will my debt and earnings be

Will my debt and earnings be only 1/5th of what they are in the new currency too?

__________________

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” Norm Franz

Captain Silver
Captain Silver's picture
Offline
Joined: 06/14/2011
Hat Tips: 758
Posts: 157
Na, special bankster exchange

Na, special bankster exchange rates for consumer debt.

__________________

Our monetary system has been hijacked by morons! Abandon ship!!!!

TheGoodDoctor
TheGoodDoctor's picture
Offline
Joined: 06/14/2011
Hat Tips: 11941
Posts: 1286
I should have prefaced that

I should have prefaced that this was a loaded question. I knew there would be at least one smart ass to come out of the woodwork. But hey, that is why I am here. For some levity. cheeky

__________________

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” Norm Franz

westernthing
westernthing's picture
Offline
Joined: 06/14/2011
Hat Tips: 25
Posts: 16
Where is it coming from?

From you and me..... If we let them..... We will have to draw the line (in the sand) somewhere. Thats why we have the rest of our preps...

No1Hunter
No1Hunter's picture
Offline
Joined: 06/16/2011
Hat Tips: 1324
Posts: 144
Well GoodDoctor

TheGoodDoctor wrote:

Will my debt and earnings be only 1/5th of what they are in the new currency too?

It would seem so.  Your $500,000 mortgage would drop to $100,000, your $100k salary would drop to $20k and the interest your earn on your saving account would drop from 1% to 1/5%. :-)

I wonder what happen to debt and earnings when the Mark was Re-evaluated after WWI:

"The victor nations in World War I decided to assess Germany for their costs of conducting the war against Germany. With no means of paying in gold or currency backed by reserves, Germany ran the presses, causing the value of the Mark to collapse. Many Germans literally carted wheelbarrows of cash to pay for groceries.

During the hyperinflation, ever higher denominations of banknotes were issued by the Reichsbank and other institutions (notably the Reichsbahn railway company). The Papiermark was produced and circulated in enormously large quantities. Before the war, the highest denomination was 1000-Mark, equivalent to approximately 50 British pounds or 238 US dollars. In early 1922, 10,000-Mark notes were introduced, followed by 100,000- and 1 million-Mark notes in February 1923. July 1923 saw notes up to 50 million-Mark, with 10 milliard (1010)-Mark notes introduced in September. The hyperinflation peaked in October 1923 and banknote denominations rose to 100 billion (1014)-Mark. At the end of the hyperinflation, these notes were worth approximately 5 pounds or 24 dollars."

To think I had a 100,000 mark note my Grandfather gave me when I was a kid from when he lived in Germany.  I thought I was rich until I found out it was worthless. 

The interesting thing is this sound a lot like what is happening here today except we are not producing large denomination bills, just pallets of $100's.

What about the Peso?  It went from 3 for a dollar in the late 60's to around a 1,000 per US dollar in the late 70's.  Then in 1982, they defaulted on their debt and re-evaluated the, 1,000 old pesos for 1 new peso and this last spring, I got around 15 "new" pesos for a dollar.   It would be interesting to know what happened to wages and debt during this time. 

Anyone here who was around Mexico in 1982 who knows what happened?

TheGoodDoctor
TheGoodDoctor's picture
Offline
Joined: 06/14/2011
Hat Tips: 11941
Posts: 1286
Thanks for this post. I know

Thanks for this post. I know there were some that lived in Argentina too when it went bust was it in the 80's? But I think that Gonzalo Lira lived there during that time.

__________________

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” Norm Franz

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Topic locked
Syndicate contentComments for "Where is all the Gold and Silver going to come from for this new "savior" currency that everyone is so sure of."