qman said:

akira_akuma said:

no, just that the monetary system is based on the sale of gold.

x2

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No, it's based on the production of gold, which adds 2% per year of the total amount of gold that currently exists.

A gold standard brings descipline into the monetary system, it's not a perfect system but it's better for the average person more so than the current fiat money system.

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sure, that's where we agree...(though it's temporary a fix) but to correct your foolish assertion that the monetary system we're discussing is not based on the sale of gold...markets are based on saleable commodities...gold is a commodity...hence the market will be based on the sale of that commodity; that, along with it's "production" (ie, it's extraction- you don't produce gold, unless you want a fiat system of currency to fund the massive undertaking, that is) --that is to say, you "produce" gold, to put into the market, as currency.

especially if you mint gold, you'll definitely need to maintain a low inflation. if it's simply gold-backed paper, the notion still stands- you need to be able to make sales in the marketplace to make currency valuable...and meaningful.

hostileuniverse said:

akira_akuma said:

no, just that the monetary system is based on the sale of gold.

x2

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Your assumption is flawed, it's not based on the sale of gold

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hostileuniverse said:

Absolutely, this is why we went off the gold standard in the first place, so they didn't have to back up their currency/debt

It's truly disgusting what our leaders have done

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they did it because it was a provision to impart health on a failing system of currency.

hostileuniverse said:

Morel Guy said:

No gold standard is not based on production of gold but the nation holding of gold.  It would also be illegal to possess gold other than jewelry. Just as it used to be.  So no more holding pure gold privetly.

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Only if the govt outlawed it again,

there is no reason to do that, but I'm sure a democrat would,

***just like last time

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you have no clue how much gold people you admire would hoard from you if the case was that you could hold onto gold bullion blocks...and you want a god standard currency...lol...fuck me. laughable.

Morel Guy said:

qman said:

Morel Guy said:

No gold standard is not based on production of gold but the nation holding of gold.  It would also be illegal to possess gold other than jewelry. Just as it used to be.  So no more holding pure gold privetly.

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Yes, it is based on the nation holding the gold, but the production is key because there's no risk of the current gold being diluted with new supply.

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Your gonna have to explain that more.  Cause that appears to counter what your saying.

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