>>4505568
>>4505615
>>4505652
>>4505769
If not for the fractional reserve system your auto loans and mortgage would run a much, much higher interest rate. You probably wouldn't be able to afford it. Most people wouldn't. Which means you'd have a much lower standard of living. And so would the builders, auto factory workers, and everyone else in the supply chain. Our whole economy, and the level or wealth you've grown accustomed to, are based on the ability to make temporary money out of nothing.
Look at the effects of the Fed planning on raising the interest rates on this money by a fraction of a percent. What do you think would happen if they decide to eliminate the process so that money could never be made in this way again at ANY interest rate?
There isn't even enough gold around to back all of the fiat USD in circulation. I worked out that we'd need 43 times as much as then US has in inventory to cover the M2 money supply as current prices. A shift back to the gold standard would simply be a MASSIVE giveaway to PM holders at the expense of total economic devastation. Ever since Q posted that comment about gold this place has been a circle-jerk of gold fondlers who think Trump will burn down the world so they can be kings of the ashes. That's not going to happen. How does anyone take this idea seriously?