Let's Go!
No one is proposing a 1:1 Gold Standard. Ron Paul argues for competing currencies. That makes a ton of sense.
Nor does Gold have to be the asset which backs the currency, there could be others, but the value of currency should be set in the market and it should have some for of asset backing it.
That song is so creepy.
Both Russia and China are accumulating massive amounts of Gold.
Currently they're OK with the PetroDollar system, but they have sent clear signs they are de-dollarizing.
What comes next?
Will they follow the IMF into a basket of currency based systems or will they pull the rug out on the West and move to a gold backed system.
Certainly many view gold backed systems as preferable because they can redeem paper for gold.
In a situation where currencies compete freely, this might be an attractive solution.
Either way, post-Bretton Woods Petro Dollar system is nearing its end.
Yeah, Fiat Currency with nothing backing paper is a much better way to go.
Here we see what happened with the creation of the FED in 1913 and Nixon's closing of the god window in 1971.
Now banks don't even need to print money. They just hit a keyboard, add zeroes and make it appear out of thin air.
FE believers are geniuses compared to those that think fiat reserve currencies are the way to go.
And you don't have to back money with gold, you can back it with any asset that is deemed desirable by the population. The key is to have something limit it's ability to be produced.
Crypto currencies limit production by making computers solve complex problems. It doesn't really matter what it is as long as it is deemed valuable and redeemable by the people using the currency.
What if at a deeper level it means "love thy neighbor for he is (you)".
What if the next level of the teaching is that we are all one consciousness fragmented is this illusory reality.