And yes, I am painfully aware remonetizing gold would cut off new money from the Fed and immediately throw the USA into a great depression. But the only thing worse than a great depression is a hyper-inflationary great depression and we all know that is exactly where Biden is going to put us. He certainly isn't going to get us out of our massive debt problem with economic growth. Thank You.
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Problem is there is more 'currency' than there is gold. I think that's why it ended in the first place, right?
Well, the easy way to solve that is to remonetize gold to a high value, like $5000 per ounce.
So now you've created an artificial market place. Controlled economy next I guess?
Creating a money unbaked by anything that could be expanded by political will created the artificial marketplace. Fixing it to something real will uncreate it.
But gold is no longer an option. Crypto like Bitcoin cannot be artificially created. It's generated only when the systems function enable it. It self regulates. This is your only option.
If you want to do this, then you damn better have the gold to back it up!
This could easily lead to China buying up huge chunks of the US currency or assets traded in dollars.
also undo JFK's collective bargaining for Federal Employees
As much as I want this and how much we need it, he won’t do it. And there is optics involved. If he brought back the gold standard then the left will ferociously attack Trump, us and Republicans for the following depression. Then that’s how we get the New Deal 2.0
looks at prospecting equipment
PLEASE PLEASE PLEASE DO THIS!