GOLD: Reclaiming the Crown

Some country ass faggot had an opinion as a rough draft

07/29/2020

Yesterday, the price of gold reached an all time high finishing the day at $1,951. This is a steep increase from the $1,530 price gold finished just over four months ago on 03/13/2020, and looking at yesterdays closing price on the graph from way back on 11/11/2015 which was $1,088, you will notice a 55% increase in value over the last four years and eight months. The dollar index, on the other hand, seems to be in a free fall taking a sharp downturn from its high this year which was 99.092 on 01/03/2020 to yesterday’s close at 93.647. Both of these numbers are a much better value than the five year low of 88.954 on 01/01/2018. However, the economic climate at this time is an anomaly compared to anything we’ve seen over the last 30 years, and if gold continues its ascension which seems to be on a historic track up smashing through the glass ceiling.

The factors setting the stage for this are many, and one, COVID-19, is a global pandemic and a unique Carona Virus which has caused the entire world population to dramatically shift their daily routines by social distancing, working from home, wearing masks in public. It has even cause millions of people to lose their jobs due to mandatory government shutdowns of businesses or lack of opportunity for work at open businesses due to overstock of manufacturing items during the pause in commerce caused be the pandemic. The layoffs, shut downs, and closure of businesses has caused the United States Congress to pass $6 trillion dollars in stimulus packages over the year funding things such as payroll protection programs for employers who keep their employees during this crisis and direct payments to individuals who make under $75,000 in the amount of $1,200 each or $2,400 per married couple with $300 included for each child. This has kept the market afloat thus far, but the introduction of $6 trillion new dollars into the market seems to have had the devaluation effect on the dollar one would expect. Naturally, precious metals will benefit during uncertain times, but this is unprecedented as the last pandemic of this scale was the 1918 Spanish Flu.

If this trend continues at the rate it is currently flowing for an extended period of time, that could be an excellent opportunity for the United States Government to reexamine the idea proceeding with the fiat currency provided by the Federal Reserve. The US Dollar used to be backed by gold and silver; It was called The Gold Standard, and the value of the Dollar would dramatically benefit from reestablishing The Gold Standard during times such as these due to its valuation being directly influenced by the price of gold and/or silver.

>>10116199

You may ask yourself, “How did we ever get away from the idea of securing our currency with something of actual, measurable and tangible value while deciding to substitute a promissory note which is fiat in nature?” To that, I would say, “Excellent question, and I commend you for your amazing critical thinking skills.” You see, way back in 1913 The United States House and Senate under Woodrow Wilson passed legislation called The Federal Reserve Act. America’s economic woes started back in 1907 when the stock market crashed causing a run on the banking system. The banks could not cover their ledger, causing a nationwide failure of the banking system. The Federal Reserve Act of 1913 privatized the banking industry which was championed by JP Morgan among others, and established a centralized way of accounting for our currency in banks across the nation. It was only took 30 years for our great nation to realize the first Federal Reserve Act was a complete failure, so naturally, what does the government decide to do? Almost the exact same thing again with broader reach starting with presidential authority to regulate personal ownership of precious metals, and giving the Federal Reserve the flexibility to issue emergency currency called Federal Reserve Bank Notes backed by any asset of a commercial bank. They called that jewel The Emergency Banking Act of 1933. This act enabled Franklin D. Roosevelt to end the relationship gold and the dollar enjoyed together, which he did almost completely. A small percentage of money was still backed by gold until 1971 which was the official end of the Gold Standard in the United States. Since then our currency has been completely fiat which means it is not backed by anything of real measurable value. Luckily, we have tied our dollar into the value of oil; we call that the petrodollar, and it benefits the US because we are the standard, by which, every other nation’s currency is measured, at least, every nation participating in the centralized system provided by by the FED across the entire globe. At this point, it is almost every country. There are only nine tiny nations globally who do not have a central bank, and their combined populations weigh in at approximately 533,505 people.

Here is the real issue with what President Woodrow Wilson, and the rest of the government did to us in 1913 and then President Roosevelt and company expanded in 1933. They do not have explicit permission under The United States Constitution to privatize the nations banking systems, and according to The Tenth Amendment of the Constitution: The powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people. Ergo, the Act could easily be repealed by an intelligent House and Senate. For that matter, since it was done to us illegally, an Executive Order could potentially have the desired effect as well if Congress is too busy.

President Donald Trump has had his fair share of issues from the private banking system. Just as our economy was getting hot, the FED decided to start raising interest rates which would be reasonable if they had equivocally issued those rates during similar times during the last administration. Even though the rates were not congruent to previous similar economic time frames, President Trump still continued growing our economy at record rates for every class and race of citizens male and female alike. Record employment growth was enjoyed for over three consecutive years, and the unemployment rate was steadfast at around 4% or less. This was humorous to conservative patriots across the nation because we could all rewind the tapes to watch his predecessor Obama ask, “How’s he going to do that? (bring jobs back from overseas) You’d need a magic wand for something like that. The manufacturing jobs… they’re not coming back, folks.”

The economy has been devastated now due to the global pandemic setting us back, but if we swap from our doomed, yet again, fiat money system back to the correct system we deserve, The Gold Standard, we could have a prayer of pulling ourselves up by the boot straps of The Constitution which is the most sound instrument ever pinned to be a compass rose to guide the government through all her storms without a scratch, so long as it is properly governed. The whole idea was to limit government reach and power. It was not intended for, nor does The Constitution provide the power for the government to limit rights of the citizens of The United States of America.

>>10116393

>- Eastman Chemical

^^^ They have been a company for a long time. Did they merge?