Its surprising how much you can accomplish if you don't care who gets the credit
Our modern currency system is immoral and obscene. It robs from us with inflation. Picture working 30 years only to have most of your money vanish into thin air.
This is our currency folks, and it is ugly. Instituting the Petrodollar is what cemented in my mind, Richard Nixon, to be on par with Woodrow Wilson.
Opening us up to China was bad enough, but ending the Gold Standard AND binding us to some of the most evil actors, Saudia Arabia, our very currency?
Will God ever forgive us? I don't know. There is a clock on our monitary system, and it is close to winding down. The Pentagon says, "America will lose dominance within 20 years".
This is the price of having a currency that depends on high levels of spending to stay alive. It utterly perishes when too much is spent. The more cash there is in global circulation, the more its valued by investors and other countries. As long as America is perceived as being on the up and up, it is invested in all the more.
The problem that's happened for the last 20 years is China is beating the US in growth, having an average GDP increase of 10% each year, with some years being as high as 17%, with our disastrous opening of trade to them, with their economy already worth half ours in that short amount of time. A very tempting investment opportunity.
I can't believe we have been led by such corrupt individuals, in both parties, to lead to this. Right now, all western countries need oil to operate. They have to deal in American dollars in order to purchase oil.
Where are the WHINERS, the individuals that say we're being overly harsh on Europe asking for favorable trade deals, WHEN THEY'RE BENT OVER A BARREL FOR OIL. I don't get the reasoning.
We must return to the Gold Standard. Returning to it would increase the value of our currency, thus lower the value of other countries monies, decreasing our national debt.
This would make us a true financial super power, making all other countries come to US to know how trade is going to go. We could be an independant country once more, having the true moral high ground.
Long live the Republic. Long live America.
Adam: I won't say you are wrong; only that there are others with differing opinions. What I will say is that in my opinion, we need is a team of people to sit around the table, offer their opinions, and arrive at a consensus on what is needed in terms of a National Economic Recovery Program that embraces several area and answers many questions. These include: what change is needed in monetary policy; what do we do about the mountain of debt we theoretically owe as a result of having had an ungodly, unconstitutional and mathematically unstable policy forced upon us for the past 105 years; do we need to retrieve the $500 trillion stolen from producers over the years and return it to them as best we can and if so how; should we equalize the price of products at the waters edge to assure we have fair in lieu of free trade?
These are but a few of the questions I see needing answered. I have proposed people like Dr. Ron Paul, Ed Griffin, Byron Dale, and Ellen Brown be on this team. Perhaps you should be considered also. For more on this and other Teams I see a need for go to https://patriotnetworkinitiative.org/documents/ and click on Objective Pursuit Teams.
One of our most important needs is for people to discard their belief that we will one day realize a different result if we just keep switching between Republican and Democrats in control of our government. It hasn't worked and won't work. Doing so is the very definition of insanity.
What America needs is millions of people having the common sense needed to network with one another as a team having a goal of restoring the Republic; people who understand they are engaged in a spiritual battle and that America is at a fork in the road. We will soon unite via a viable plan or watch our experiment in liberty become a page in a history book.
I would offer that things are far worse than simply the medium of exchange. Whether it is the Petro Dollar, the Reserve Currency the National Debt or the Trade Deficit you wish to consider, what we are really discussing is the level of control others exercise over the people and governments of the world. The monetary system is just the means they are using. The IMF, World Bank, CFR and United Nations are all part of the cartel that has enslaved the average working man for so long that we no longer even recognize a different way of living. Our Western Culture has been decimated to make room for the New World Order by these Globalist Bankers and the weapons they have used to do it have included illegal immigration, racial unrest, illegal wars, National and international welfare programs, and the supposed War on Terror. All of it marching us to the same end. National Health Care, a declining academic standard in our nationalized public schools, the elimination of individual property rights through taxation and invasive administrative laws are all part of the same effort to control us as citizens of the New World Order. Monetary Policy and the Gold Standard are just two more weapons being used but thank you for noticing. Not many do anymore.
Considering we owe about $21.2 trillion based on Market Watch site. According to Treasury Gov the "Total - U.S. Government Gold Reserve" is $11,041,059,957.90. They even state that "The market value of the gold reserves based on the London Gold Fixing as of September 29, 2017 was $335.5 billion." This seem to indicate that we don't have enough gold reserves to just 'switch back' without cutting our own throats.
Has there ever been a country that not only controls the monetary system, but can print as much paper money as they wish with no collateral or backing?
Nixon is one we could have done without. This image is also from Market Watch.