What is the Gold Standard?
The Gold Standard is using paper money backed by gold. In this way, governments won’t print more paper money than the gold they have in the vaults, because gold gives the paper money value and protect it against inflation. Unlike gold, paper money is easy to divide and this standard, works great.
Do you remember the series about the Fabian Socialists? Do you remember that if we take America, it was Lyndon Johnson who removed all gold backing in America, even in theory from the dollar? This will be given in more detail in a future piece.
Didn’t we see, in this piece the following:
“They therefore devise a medium of exchange. Additionally, this was cash. It wasn’t always paper, though. They initially mostly settled on gold and silver. Because gold and silver were in short supply, would not corrode, and were in high demand, they were utilized. Gold became to be recognized as money by all. Since gold cannot be created out of nothing, once the politicians got involved, they disregarded the fact that it was utilized as currency. Gold cannot be created from nothing, but money can.
According to John Maynard Keynes’s fabian socialist theory, gold and money should be kept apart. Thus, for instance, money in America was backed by gold until 1934. At the period, gold coins were in use and could be purchased at coin collectors’ stores. The United States government possessed billions of dollars’ worth of gold, and 135th of an ounce of gold was concealed beneath each dollar bill. However, because they couldn’t create these without gold backing them, they could only produce a limited number of them. Therefore, the politicians, shrewd as they may be, reasoned that they would avoid inflation if they were forced to back their currency with gold. Therefore, Franklin D. Roosevelt at the time called in all the gold, encouraging the populace to do so out of patriotism, knowing that the government would retain it for them in case of an emergency and return it to them when it passed. Many gullible, patriotic folks so gave the government their gold, but Roosevelt informed them that the government could not return their assets until the situation was resolved. And because the administration refused to return the gold to the people, the emergency of 1934 continued. Therefore, America kept creating a lot of paper money.”
So the printing of money, with inflation being the addiction of the economy, with governments taking us off the Gold Standard, is robbing everyone of all the value of their money.
The Gold Standard for Dummies
What is the Gold Standard?
The Gold Standard is using paper money backed by gold. In this way, governments won’t print more paper money than the gold they have in the vaults, because gold gives the paper money value and protect it against inflation. Unlike gold, paper money is easy to divide and this standard, works great.
Do you remember the series about the Fabian Socialists? Do you remember that if we take America, it was Lyndon Johnson who removed all gold backing in America, even in theory from the dollar? This will be given in more detail in a future piece.
Didn’t we see, in this piece the following:
“They therefore devise a medium of exchange. Additionally, this was cash. It wasn’t always paper, though. They initially mostly settled on gold and silver. Because gold and silver were in short supply, would not corrode, and were in high demand, they were utilized. Gold became to be recognized as money by all. Since gold cannot be created out of nothing, once the politicians got involved, they disregarded the fact that it was utilized as currency. Gold cannot be created from nothing, but money can.
According to John Maynard Keynes’s fabian socialist theory, gold and money should be kept apart. Thus, for instance, money in America was backed by gold until 1934. At the period, gold coins were in use and could be purchased at coin collectors’ stores. The United States government possessed billions of dollars’ worth of gold, and 135th of an ounce of gold was concealed beneath each dollar bill. However, because they couldn’t create these without gold backing them, they could only produce a limited number of them. Therefore, the politicians, shrewd as they may be, reasoned that they would avoid inflation if they were forced to back their currency with gold. Therefore, Franklin D. Roosevelt at the time called in all the gold, encouraging the populace to do so out of patriotism, knowing that the government would retain it for them in case of an emergency and return it to them when it passed. Many gullible, patriotic folks so gave the government their gold, but Roosevelt informed them that the government could not return their assets until the situation was resolved. And because the administration refused to return the gold to the people, the emergency of 1934 continued. Therefore, America kept creating a lot of paper money.”
So the printing of money, with inflation being the addiction of the economy, with governments taking us off the Gold Standard, is robbing everyone of all the value of their money.