Rather than fighting (we’re on the same side after all), I’d recommended reading The Creature from Jekyll Island. Chapter 7, iirc, breaks down the rational for the gold standard. Over the book, it documents how the federal reserve has been a tool for swamp for ages.
Gold is not highly volatile or vulnerable. It's the same as oil, except the supply is never "used up" like a consumable commodity, and far, far less of it comes out of the ground (as compared to the rate of oil production).
If a country wanted to manipulate or attack, they would have to A) have a HUGE amount of gold to throw around Willy Billy. B) the ability to absorb an equal and likely greater shock to their own economy if they ever tried it!
And, don't you think China is capable of manipulating & attacking us now by acquiring our debt, and then calling it in all of a sudden? Can't they obtain massive amounts of fiat dollars, and then flood certain industries in order to disrupt or destroy them economically? They do this all the time.
How else would debt be paid? Currently, our debt is paid by saddling our children with the burden to pay it or figure out how...because the fed keeps printing money to buy more treasury debt. Are you ok with mortgaging your child's future?
The supply of gold has no bearing on the volume of gold-backed currency that can be available in the system. I feel like people oppose the gold standard, because they believe we'd all have to start paying the grocery bill with gold coins...that's not how it works.
Rather than fighting (we’re on the same side after all), I’d recommended reading The Creature from Jekyll Island. Chapter 7, iirc, breaks down the rational for the gold standard. Over the book, it documents how the federal reserve has been a tool for swamp for ages.
Gold is not highly volatile or vulnerable. It's the same as oil, except the supply is never "used up" like a consumable commodity, and far, far less of it comes out of the ground (as compared to the rate of oil production).
If a country wanted to manipulate or attack, they would have to A) have a HUGE amount of gold to throw around Willy Billy. B) the ability to absorb an equal and likely greater shock to their own economy if they ever tried it!
And, don't you think China is capable of manipulating & attacking us now by acquiring our debt, and then calling it in all of a sudden? Can't they obtain massive amounts of fiat dollars, and then flood certain industries in order to disrupt or destroy them economically? They do this all the time.
It's still a terrible idea; we'd have to pay our $22 trillion debt in Gold.
When America is debt free, then it could make sense.
How else would debt be paid? Currently, our debt is paid by saddling our children with the burden to pay it or figure out how...because the fed keeps printing money to buy more treasury debt. Are you ok with mortgaging your child's future?
The supply of gold has no bearing on the volume of gold-backed currency that can be available in the system. I feel like people oppose the gold standard, because they believe we'd all have to start paying the grocery bill with gold coins...that's not how it works.