Gold Standard

[cottonpicken]

This is being seriously discussed now.

Look at this,and think about it.

http://en.wikipedia.org/wiki/Gold_reserve

100million ounces=3,000 tons is what we could have been at.(previous thread)

If dollars take on convertibility to gold,canada would be left without a chair when the music stopped.
I've never spent much time ever thinking about this,because i never thought it possible.

Don't look at the number of tonnes on the chart look at the % of forex reserves.

The implications of this are so incredibly scary i cant post them.

http://watch.bnn.ca/#clip502522

[wd9]

Anything to do with the U.S. Aug 2nd 13 trillion dollar time bomb on running out of credit?

[cottonpicken]

Yes,this is fairy tale stuff,cant imagine it happening.

If it did,new paradigm.

[sumdumguy]

Govt wont let it happen. They will confiscate the
gold and silver. Deja vu

[sumdumguy]

Advisors say interest rates cant rise, how can
americans borrow money when aussie money is
offering 6 to 8 percent. U S thinks they are CWB
And can make the money market no matter how
low they offer to borrow. Just my perverted
viewpoint. Oh yeh, lets just print up another
mountain of paper.

[cottonpicken]

Funny enough,if gold was valued at say 10,000 us
dollars per ounce,which is a fairly reasonable
number,the 1 trillion dollars that the chinese have
would represent 100 million ounces.

Canadas foreign reserves would give us about 4.4
million ounce weighting.

The purchasing power of our dollar would lose
about 99% overnight and there is nothing we could
do about it.

[FarmRanger]

The only thing the gold standard really did well was help keep governments financially responsible. The idiocy of endless deficit spending with fiat currency is coming home to roost, but it did't need to end this way.

Paper currency works just fine with responsible governments.

[BTOfarmallll]

Use the Tools in front of yer Fat Faces to Research Real Facts, Instead of Believing Fairy Tales. The Government is supposed to Print & Issue ALL Currency, Not a Private Banking Cartel..........