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Can I Has Gold Standard Nao Prx?

Name: Anonymous 2008-07-13 19:46

Central banking is bullshit. The stability provided by a gold or silver backed currency increases growth in the long term more than artificial booms and busts caused by central banks lowering interest rates.

Let's look at the current bank and mortgage situation in the US.

1. Fed lowers Federal Funds Rate to increase money supply and spurn economic growth.
2. Banks find themselves with a surplus of reserves by 1.
3. Average investors are tired of the 21st century's weak stock market and decide to get into real estate.
4. Banks, with a surplus of reserves, make loans to anyone with a pulse.
5. Speculators, trying to get in while it's good, take high risk loans because interest rates are low.
6. 3-5 combine to form a housing boom.
7. 6 causes an artificial inflation in real estate prices.
8. Due to 7 and a new (artificial) sense of wealth, people take out mortgages on their homes.
9. Inflation, caused by 1, manifests as the new money makes its way through the economy.
10. The economy contracts just as suddenly as it had expanded.
11. Those who took the most risk during the expansion now take the hardest fall as the malinvestment in the housing market and mortgages is liquidated.

This is where we are now. Unfortunately, amidst the second largest bank failure in US history, the charlatans in the US government are the ones with the least understanding of why. So I ask again, can I has gold standard nao prx?

Name: Anonymous 2008-07-13 20:05

FAIL.

The gold standard worked before gold was an industrial metal consumed worldwide and used to fabricate electronics.

Do you REALLY want to peg the value of your currency to a global industrial commodity?

Name: Anonymous 2008-07-13 20:14

bitches don't know about my monetarism

Name: Anonymous 2008-07-13 20:19

>>2

orly. The Swiss Franc was gold-backed until 2000. Up until then it was considered the most stable currency (for obvious reasons). Do I REALLY want to peg the value of my currency to a global industrial commodity which can't be easily manipulated to tax me through inflation? Yes.

Name: Anonymous 2008-07-13 23:03

Not >>2 here and I have suspicions that >>2 is kneejerking, but >>2 is right about how the price of gold fluctuates more nowadays than it did when it's only practical use was in scientific experiments. There is also the fact that the value of the nation's currency is now directly linked with the value of the assets it represents. Extrapolating this to proven gold reserves would make the price of gold increase astronomically and then countries with a large stockpile of gold will essentially find themselves owning the equivalent of a signficant proportion of the US's GDP.

This is not to say that a currency based on proven gold reserves is a bad idea and there should be no restrictions on private businesses undertaking this. But why stop there? Why restrict private businesses basing currency on the value of any asset? I think we should go back to the days when banks printed their own notes. We should keep the state currency but see how it competes  with private currencies.

Name: Anonymous 2008-07-14 0:03

>>5
ever heard the term "to laundered money"?

Name: Anonymous 2008-07-14 0:41

Gold standard is not the answer, since money is really just whatever people agree to use.  If you want a stable currency:

-Make sure your central banks aren't private corporations
-Don't issue money with debt attached to it

Monetary crisis solved.

Name: Anonymous 2008-07-14 2:38

>>6
Get to the point.
>>7
How do you intend to stop the government from being retarded and doing the exact same thing as your hypothetical evil corporations? I think the state should at least have to compete with banks in supplying legal tender so people don't have to use foreign credit if the government fucks things up.

Name: Anonymous 2008-07-14 17:10

>>5
>>2 here.  Tell me, how many ounces of gold did it take to buy a house, or a new suit, or a new car, in 1975?  1976?  1977?  1978?  1979?  1980?  1981?

Do you REALLY want to peg the value of your currency to something that has such wide swings in value every year?

Name: Anonymous 2008-07-15 20:34

>>9
Are you really that stupid? Do you honestly attribute that to its industrial value?

Name: Anonymous 2008-07-15 21:13

>>8
By having the government issue money, rather than a private bank, you would automatically get rid of a ton of debt.  Half of the problem is solved just by doing that.  Not only that, with a government institution handling the creation of money, the public would have some control over who is running it through the election process, and it would be subject to congressional oversight and other regulations.  As it stands now, the Federal Reserve is a private entity that has never been audited, and the only people who have a say in how it's run are out to make a profit.

Name: Anonymous 2008-07-15 22:01

>>10
It's a commodity for which there are vast worldwide swings in supply and demand, and also, as an added bonus, just because it's a "precious metal," there are likewise hordes of speculators to amplify every tiny upturn and downturn in global prices.

And thirty years ago there wasn't nearly as much gold being used in the innards of semiconductor chips as there is today.

I repeat.  Do you REALLY want to peg the value of your currency to an industrial commodity whose value gyrates wildly up and down year after year?

Shit, how about pegging the dollar to frozen concentrated orange juice futures instead?  At least the demand for orange juice in the US is relatively stable.  And at any bank you'd be able to redeem your paper money for an ice cold Orange Julius!

Name: Anonymous 2008-07-15 23:35

>>12
Not 10 here, but I do see where you're coming from.  However, I just have to throw in my two cents:

It's true gold value constantly changes, but its general trend is upward.  On top of that, gold is never worth zero.  It has always been valuable and it will continue to be for a very long time.  Fiat currencies can be devalued to the point that you need a wheelbarrow full of it to buy a loaf of bread.  I'd take a volatile, but always valuable currency over an elastic one that could disappear into thin air.

Name: Anonymous 2008-07-16 3:20

Good lord. People (libertarians) who want the gold standard back need to do some thinking and/or research. Gold does create a stable currency, no question about that. But gold does not hold a stable value. How would you feel if the US decided to match its dollars with that of another foreign currency in order to control inflation? Its completely foolish to not allow money supplies to fluxuate in response to global pressures.

Since we (the US) left the gold standard, our economy has been amazingly stable. Even with the great depression in mind, we are far better off than the years of extreme economic downturns once every 5 years or so that plagued us in the 19th century.

Name: Anonymous 2008-07-16 19:25

>>14
Amazingly stable. Did you sleep through the past seven years?

Also, separate "economic stability" from currency stability. They aren't all that related in an interventionist economy. During the 19th century, the dollar increased in value. An item that cost $100 in 1820 would have only cost $63.02 in 1913.

Name: Anonymous 2008-07-17 2:30

>>15
"Amazingly stable. Did you sleep through the past seven years?"

Ya it sure has been terrible, i nearly spit my mocha latte all over my plush leather sofa when i heard gas was going to cost me 20$ more a week and unemployment went up 2%. Its been a long haul guys, but i think its almost over.

Name: Anonymous 2008-07-17 10:36

>>16
Sorry, but the truth is no one cares about you. I was referring to the things that matter like the dot-com bubble and subsequent burst and the housing bubble and burst. Do you really think bubbles occur in a market naturally? Read the OP, and you'll see where they come from.

Name: Anonymous 2008-07-17 15:55

>>1
No one in America cares. It's not our problem.

Name: Anonymous 2008-07-17 19:50

>>1 left out 4.5:  government pressures banks to make low-interest home loans to niggers, because refusing to loan half a million dollars to Rastus, who works part time at a minimum wage job bagging groceries when he's not chilling on the corner smoking rock with his homies, is "redlining," and that's RAAAAAAAAAAAAAAAAAAAACISM.

Even now, as our goobermint masters are staring, a year later, to realize that something went wrong and maybe they fucked up, are STILL leaning on the banks to give MORE half-million-dollar loans to Rastus, guaranteed by tax money extorted from working-class Whites.

Name: Anonymous 2008-07-17 21:31

Everyone knows the gold standard would work better than our current system of... Paper.

The reason the government removed it, and then allowed the central bank to take charge of the country's money system, is because as soon as you do that, as soon as you have one body with the power to alter the value of the currency, you control the currency.

Central bank loves controlling the currency. Think about it, if they wanted, they could increase inflation like a fucking garden hose and initiate riots all over the country. Just an example.

Name: Anonymous 2008-07-17 21:56

It's all the jews. America is a great nation but our federal government is far too large and far too removed from the population. It has turned into a corrupt mockery of a real government.

Name: Anonymous 2008-07-18 4:18

>>17
Uhh, yea, i do. Are you trying to say all market fluxuations and ajustments are caused by central banking?

Name: Anonymous 2008-07-18 11:16

>>22
Please, if you can't keep up then just GTFO. Of course a market naturally fluctuates and makes adjustments. This is because the economic forces behind any market TEND TO EQUILIBRIUM. So ask yourself what government interference in the market does. Obviously it TENDS AWAY FROM EQUILIBRIUM, otherwise there wouldn't be any interference in the first place. Government may implement "spread the work" schemes, guaranteed loans for those who would normally (NATURALLY) be too high risk, price fixing, rent control, wage fixing (note all three of these are essentially the same thing), and many more.

But economics is a lot like physics (and I'm a 4th year physics student). In any natural system, a move away from equilibrium requires an external force. But a RESTORING FORCE will always tend back to equilibrium. Think of pushing a box on the ground. You provide an impulse and the box accelerates. Friction (and other) resorative forces then decelerate the box and it comes to a halt. You could suggest just applying a constant force to the box to overcome restorative forces. Sure, you can do this for a certain length of time, but you can't push the box forever.

The market is obviously a much more complicated system than a box on the ground, but the underlying concepts are similar, and to get back on topic, I'll use a central bank example. Central banks operate through the manipulation of interest rates (in the US this is called the Federal Funds Rate). The intended consequence of this is to increase the money supply. In time, this action leads to inflation. Inflation is exactly the consequence that is desired by the bank because in Keynesian and other circles it is believed that inflation stimulates the economy (it's really just a tax, but that's a different topic). This belief comes from not understanding the full consequences of this intervention. You can read OP to see what the full consequences are. The inflation causes an artificial high, but the restorative forces of the market always return it to equilibrium. In the end, rather than stable and healthy growth, the economy grows in spurts and abrupt halts -- bubbles and bursts.

A good case study is Japan's bubble economy of the 70's and 80's. Japan made huge growth during that time, but it was largely artificial, caused by the continued lowering of interest rates. But the restorative forces eventually overtook them when the central bank could not lower interest rates any longer (the interest rate was VIRTUALLY ZERO), and the result was what the Japanese call the "lost decade" a period from 1990 to 2003 when all the malinvestment was liquidated and subprime loans were defaulted. Today, Japan sees much more modest growth, but it's also a much healthier, natural, and sustainable growth.

Why do we discuss the gold standard? Because it makes a central bank unnecessary and makes it almost impossible for the government to manipulate the value of its currency. It replaces the central bank with the infinitely more efficient market.

Name: Anonymous 2008-07-18 16:42

We should get rid of central banks but not go on the gold standard.

Name: Anonymous 2008-07-18 17:22

>>24
That doesn't solve the problem. You must have a market approach to monetary policy or else you're just going to have the same shit in a different bag. I wouldn't mind seeing this in the interim, though, as the Fed cannot be held accountable for. The Federal Reserve ceased publishing M3, the figure that represents the total money supply, in 2003 making it impossible to tell exactly how much money was being created. On the other hand, I wouldn't want the government managing our monetary policy for longer than a few months. The last thing we want is a monetary policy influenced by politics.

Name: Anonymous 2008-07-18 21:22

>>23
That is not to say government regulation is a bad thing. However government SUBSIDIZATION of uneconomical practices through tax payer money are a waste of time, purely concerned about the short term gains, and it is a crime.  Another very good point is this whole ethanol idea. Some time along the line the government is going to stop subsidizing fertilizer and stop subsidizing biodiesal production. And that will cause the billions of dollars invested in a market artifically created to vanish and disappear.

This is exactly the same thing as the current renewable energy clusterfuck. None of this would exist if the stupid green cunts and the unelected dictatorial nuclear regulatory agencies would allow new reactors.

France is what, 80% nuclear? There is no reason america should not be 90% nuclear 9% hydro 1% efficient coal fired and small power generation plants.

It's the jews again.

Name: Anonymous 2008-07-19 12:35

>>26
Government regulation is a bad thing. Name an instance where it is good.

Name: Anonymous 2008-07-19 13:10

When a dollar is printed, the value of all dollars are reduced by the same amount as a concequence; you can't just print actual capital or gold by the boatfull, that's one of those things that's so great about the gold standard. This process of fiat money production under the current system, transfers actual wealth from those who hold dollars to those who create them. It also allows for huge government spending, because they can spend money without taxing (for example for extremely unpopular purposes, like wars). High taxes for wasteful purposes are bound to create tax revolts; this system eliminates that risk.

The compound interest paradox also comes into play. All money in America is issued as debt with interest attached to it; money is only created as a loan, and only the principal is created. The extra money to pay the interest has to be extracted from the economy. As long as new loans are made this process is sustainable, but eventually the banks are guaranteed to own everything in society as more and more people are unable to obtain the money they need from the market in order to pay the interest.

Google "I want the earth plus five percent" and "FSK's guide to reality".

Name: Anonymous 2008-07-19 17:38

>>28

Does the USA even have enough gold and silver for if people wanted to cash in their dollars?

Name: Anonymous 2008-07-19 18:42

>>29
No, this is the reason we had to get off the gold standard in the first place. Irresponsible policy on the part of the US government during the Vietnam era, not to mention pre-Vietnam, had led to the inevitable excess printing of dollars and a corresponding rise of inflation, which naturally made other nations not want to hold dollars as a reserve currency any more. When they came to cash in, there just wasn't enough gold left.

Name: Anonymous 2008-07-20 0:23

dude, only 10% of U.S wealth in printed on paper or coined, the rest are just numbers in bank accounts.  Seriously guys, Ron Paul lost so get over it

Name: Anonymous 2008-07-20 1:17

>>31
I don't think you know what you're talking about.

Name: Anonymous 2008-07-24 23:49

>>28

Now how do I get a hold of these new dollars the gov't prints to offset the decline in the value of the dollars I currently own?

Name: Anonymous 2008-07-28 8:55

          ∧_∧   / ̄ ̄ ̄ ̄ ̄ ̄ ̄ ̄
          ( ´∀`) < jews love gold!!!!
        /    |    \________
       /       .|     
       / "⌒ヽ |.イ |
   __ |   .ノ | || |__
  .    ノく__つ∪∪   \
   _((_________\
    ̄ ̄ヽつ ̄ ̄ ̄ ̄ ̄ ̄ | | ̄
   ___________| |
    ̄ ̄ ̄ ̄ ̄ ̄ ̄ ̄ ̄ ̄| |

Name: Anonymous 2008-07-28 10:08

JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS JEWS DID 4CHAN DDOS

Name: Anonymous 2008-07-28 22:19

>>33
Work in the Iraqi government.

Name: Anonymous 2008-07-28 22:42

Private banks should be able to print their own notes tied to the assets people own. Whatever the socialists in the statist government decide to rule by decree over their monopoly over the currency our economy depends on, we will not have to be entirely at their mercy.

Name: Anonymous 2008-07-29 6:05

>>34

jews love gold!!!!
>
PROVE ME RITE


Piece of cake:

"XXVIII. The next thing is that charge about the Jewish gold. And this, forsooth, is the reason why this cause is pleaded near the steps of Aurelius. It is on account of this charge, O Laelius, that this place and that mob has been selected by you. You know how numerous that crowd is, how great is its unanimity, and of what weight it is in the popular assemblies. I will speak in a low voice, just so as to let the judges hear me. For men are not wanting who would be glad to excite that people against me and against every eminent man; and I will not assist them and enable them to do so more easily. As gold, under pretence of being given to the Jews, was accustomed every year to be exported out of Italy and all the provinces to Jerusalem, Flaccus issued an edict establishing a law that it should not be lawful for gold to be exported out of Asia. And who is there, O judges, who cannot honestly praise this measure? The senate had often decided, and when I was consul it came to a most solemn resolution that gold ought not to be exported. But to resist this barbarous superstition were an act of dignity, to despise the multitude of Jews, which at times was most unruly in the assemblies in defence of the interests of the republic, was an act of the greatest wisdom. 'But Cnaeus Pompeius, after he had taken Jerusalem, though he was a conqueror, touched nothing which was in that temple.' In the first place, he acted wisely, as he did in many other instances, in leaving no room for his detractors to say anything against him, in a city so prone to suspicion and to evil speaking. For I do not suppose that the religion of the Jews, our enemies, was any obstacle to that most illustrious general, but that he was hindered by his own modesty. Where then is the guilt? Since you nowhere impute any theft to us, since you approve of the edict, and confess that it was passed in due form, and do not deny that the gold was openly sought for and produced, the facts of the case themselves show that the business was executed by the instrumentality of men of the highest character. There was a hundredweight of gold, more or less, openly seized at Apamea, and weighed out in the forum at the feet of the praetor, by Sextus Caesius, a Roman knight, a most excellent and upright man; twenty pounds weight or a little more were seized at Laodicea, by Lucius Peducæus, who is here in court, one of our judges; some was seized also at Adramyttium, by Cnaeus Domitius, the lieutenant, and a small quantity at Pergamus. The amount of the gold is known; the gold is in the treasury; no theft is imputed to him; but it is attempted to render him unpopular. The speaker turns away from the judges, and addresses himself to the surrounding multitude. Each city, O Laelius, has its own peculiar religion; we have ours. While Jerusalem was flourishing, and while the Jews were in a peaceful state, still the religious ceremonies and observances of that people were very much at variance with the splendour of this empire, and the dignity of our name, and the institutions of our ancestors. And they are the more odious to us now, because that nation has shown by arms what were its feelings towards our supremacy. How dear it was to the immortal gods is proved by its having been defeated, by its revenues having been farmed out to our contractors, by its being reduced to a state of subjection."

—M. T. Cicero, Pro Flaccus, Chapter 28; translated by C. D. Yonge, The Orations of Marcus Tullius Cicero, Volume 2, George Bell & Sons, London, (1880), pp. 454-455.

Name: Anonymous 2008-07-29 6:23

>>38

Goyim are IDIOTS!!!!!!!

PROVE ME RITE

Name: Anonymous 2008-07-29 6:25

>>39

Goyim are IDIOTS!!!!!!!
PROVE ME RITE


Piece of cake:

"Lest some of my readers may think that I have insisted too much upon the disastrous effects of the monetary system associated with the gold-standard, a few words may be helpful. Money or token-wealth has been invented, to use St. Thomas's expression, for the convenience of exchange and as a measure of things saleable. Thanks to it, families can procure, by the process of exchange, far more easily than by barter, that sufficiency of nature's goods or real wealth needed by their members for a virtuous life. The fact is, however, that the gold-standard system does not aim at the distribution of socially-produced wealth but at making money a source of revenue to the issuers and a means of arriving at the greatest possible control for them by the creation and perpetuation of debt. As a measure of things saleable, money is meant to be stable. The yard measure and the pound avoirdupois may not be altered arbitrarily. Yet 'we are in an age of monetary policy,' writes Professor Soddy, 'when the value of it is continually altered by the means well-known to the banking profession, to make it worth less or more, thus to raise the price level or to lower it. . . In all this there is not given a moment's consideration to the most elementary principles of justice to the owners of the money, who have a right to receive again value equivalent to that which they have given up.'[Footnote: The Role of Money, p. 85 'A sane money system is one that aims at keeping in circulation the largest volume of money that can be absorbed without inflation of the price level . . . the principle of control of the currency of New Zealand should be changed from stability of the exchange rate with sterling to stability of the internal price level.'—(A. N. Field, in Examiner, May, 1939.)] Arbitrary changes in the volume of currency cause prices to rise or decline; and these arbitrary changes affect the welfare of every citizen. How are they effected? By the contraction and expansion of credit due to movements of gold. Thus we have fixed foreign exchanges with fluctuating internal price-levels. Those who control gold can manipulate the volume of credit, thus controffing the price-level in different countries. And this power can be used to acquire mortgages not only over entire industries but over whole countries. We read in The Builders' Merchants' Journal (January, 1939): 'For instance, by the judicious transference of (say) ten millions of gold from France to England, a systematic depreciation of probably ten times that amount could be brought about in the market value of French securities without undue difficulty, and a corresponding rise effected on the English Exchange. By then transferring the same amount of gold from London to New York, a similar double effect could again be achieved. Next, by transferring the gold from the U.S.A. to (say) Belgium and the Netherlands, the process could be once more repeated. Then by switching the bullion across to England, a similar rise and fall would result. Finally, by shipping the gold from London back to its original resting-place in Paris, French securities would be restored to normal, and British stock values again depressed. The alteration in market values in the case of every gold transfer as above outlined would probably be at least ten times the amount of the bullion actually shipped, and the astute individuals engaged in the execution of this interesting financial roundabout might within the space of two or three years amass (via nominees) anything from (say) £100,000,000 to £500,000,000 by judiciously exploiting the possibilities of the markets—and without arousing outcry or general suspicion amongst the investing public. No wonder it becomes possible for banks and other big financial interests to hold 'blanket' mortgages not only (in effect) over entire industries, but also (to all practical intents and purposes) over whole countries.'

A concrete example of the swindling depicted by The Builders' Journal is given by the late Arthur Kitson in his book, The Bankers' Conspiracy, published in 1933. On pages 79 and 80 of that work, we read: 'Some years ago the Bankers' Magazine gave a startling example of the depreciation in the prices of 325 of our representative investments caused by the withdrawal of £11,000,000 in gold from the Bank of England by a group of American financiers. The transfer of this amount from London to New York during a period of a few weeks caused a fall of prices equivalent to £115,500,000! The absorption of the same gold caused a corresponding advance in the prices of certain American securities. By first selling English securities and buying American, they had merely to transfer so much gold and afterwards reverse the transactions by buying and selling respectively and the game was won! As a well-known financial writer stated at the time: 'These speculators were playing upon two tables at the same time—one in London and the other in New York—with the certainty of winning on both.''

When a country has been impoverished and disorganised by a stock-exchange coup such as has just been mentioned, an attack on the property of the Catholic Church and the religious orders can be successfully launched by the Masons and other anti-supernatural elements. A typical example is to be found in Spain between 1834 and 1840. The Rothschilds were anti-Carlist in the war of succession, which was going on, because they feared that the success of Don Carlos would mean that they would lose the famous Almaden quicksilver mines. By a 'bear' operation on the stock-exchange the Rothschilds sent Spanish securities tumbling down. The Prime Minister, Count Toreno, was forced to resign, and the Rothschilds realised a profit far beyond the amount of the bribe they had given him previously. Count Toreno was succeeded by Mendizabal, a Jew by race and religion. He had been speculating in Spanish securities but had 'got the tip' from Nathan Rothschild when the Rothschilds decided to bring about the slump. Mendizabal increased the Spanish deficit. All that and more can be learned from Count Corti's Reign of the Houses of Rothschild. It will serve as a commentary on the laconic information we get in the Catholic Encyclopedia (article on Spain) wherein we read: '. . .the Liberals ruled, except in the provinces occupied by the Carlists, and the moderate ministry of Martinez de la Rosa . . was succeeded by those of Toreno and of Mendizabal, who put up the possessions of the Church for sale (1836).' The Catholic Encyclopaedia omits to say that all the convents, with some exceptions, had been confiscated in 1835.[Footnote: 'More than one hundred years ago, the Church in Spain was disestablished and despoiled of all real property, while the Religious Orders were suppressed and dispersed under the laws framed by Don Jose de Mendizabal, a Finance Minister of that day.' (The Conflict in Spain, by the Marquis de Merry del Val.)] It makes no reference to the collusion between Rothschild and Mendizabal.

Stabilization of the internal price level of countries is one of the most needed social reforms in the natural order. Without it the demand for social justice becomes a mockery. 'Stabilizing money takes the money factor out of price fluctuation and leaves just the non-monetary factors of demand and supply of commodities. As one well-known writer on these subjects has pointed out, the money factor is like the tides of the ocean, and the commodity demand-and-supply factor is like the waves of the sea. . . . The tides are the big factor determining the level of the water, and the waves a comparatively small factor even in the greatest storm. The money factor is like the tides, and is the principal thing in determining the price-level.' [Footnote: A. N. Field in Examiner, May, 1939. He says elsewhere in the same issue: 'Money must be made a just measure of value. If it is not, every money transaction perpetrates injustice, with debts on one level and prices of commodities on another level. And injustice sooner or later means the disintegration of the existing social order.']"

—The Rulers of Russia, Third Edition, Revised and Enlarged, USA, (1986), 93-96

Name: Anonymous 2008-07-29 13:23

>>38
>>39
>>40
Privatising currency would make such activities unprofitable.

Name: Anonymous 2010-07-06 10:31

>>27
I'm generally against regulation and heavy taxation against the little people (i.e. family farmers, small businesses, etc.), but repealing the Glass–Steagall Act that was enacted during the Great Depression I've found to be a huge mistake (not a mistake to those who were involved in repealing it of course). It used to be when the act was put in place that investment banks and lending banks were separate entities. A banking institution could either claim to be an investment bank or a lending bank, but not both. The act prohibited the banks from becoming the huge gambling casinos that they've now become.

The repeal of Glass-Steagall was done by financial advisors in the Clinton administration, Robert Ruben, Larry Summers, etc.[1] Basically the wolves that caused the mess in the first place are now tending the hen house. Larry Summers in particular is now Obama's director of the White House National Economic Council.[2]

Because that part of banking was deregulated, they started coming up with schemes of gambling risks undreamed of. The whole derivatives market is a product of this, with things like credit default swaps, forward contracts, hybrid securities, etc. These institutions and the derivatives market is estimated to be around $600,000,000,000,000 (trillion) USD, or an even higher estimate of 1.5 quadrillion dollars, 9.8 or 24.5 times the ENTIRE WORLD'S GDP (currently at $61.06 trillion[3])! It's estimated that money would be able to give $190,000-220,000 USD to every man, woman, and child on the planet! And the whole thing doesn't produce anything of real value, it doesn't build steel, it doesn't build railroads, it doesn't build automobiles, it doesn't build infrastructure, it builds nothing other than profits and risks beyond human comprehension. It is an extremely dangerous thing to allow to go unregulated and unrestrained. It poses a danger to liberty, and the future of the nation as a whole.

>>29
Nobody really knows. There hasn't been an actual audit of the gold reserves in the Bullion Depository at Fort Knox since the mid 1950s. There was an audit in 2005 by KPMG, but they only audited its operating expenditures (i.e. operating costs to maintain the place, public tourism, etc.), never any of its actual physical gold reserves in its vaults (if they even exist at this point).[4]
_____________________
References:
[1] http://cyber.law.harvard.edu/rfi/press/glasssteagall.htm
[2] http://www.hks.harvard.edu/news-events/news/articles/belfer-summers-dir-nat-econ-council-dec08
[3] 2008 Source: World Bank, World Development Indicators
[4] http://news.goldseek.com/GoldSeek/1164211260.php

Name: Anonymous 2010-07-06 17:12

>>42
I'm generally against bumping two-year-old threads, numbnuts.

Name: Anonymous 2010-07-08 18:14

>>43
Listen here, jerkface. It's still relevant to current times.

Name: Anonymous 2010-07-09 2:34

>>42
>Robert Ruben, Larry Summers

Oh hey, Kikes! Who here is surprised, really?

Name: Anonymous 2010-07-09 3:48

>>45
Oh boy, here we go.

Name: Anonymous 2010-07-09 19:39

>>46
KIKES on BIKES and GENOCIDE by BOOMERANGS

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