No one has any idea how much gold has been mined to date.
No one has any idea how much gold there is in circulation right now.
No one has any idea how much gold there is left in the ground.
Gold standard is prima facie idiotic.
There is no reason whatsoever that currency has to be pegged to some "scarce commodity" or any commodity at all. Real, unencumbered currency has only to be backed by the productive power of the people of that particular State.
checked
You must have set these up as actions, no? In order to do them so quickly, so uniformly in these different, yet distinct styles?
Anon's paying attention :)
Someone who sees!
Global pandemics happen, anon. The productive power of the people of the State are the only true backing for real currency there is.
Remember what happened to Spain?
Those who push gold as a backing for currency have something to gain. They can flood the market anytime they wish and it's Spain 2.0.
Most Americans don't realize that the "jubilee" was from very ancient Sumer. Debt was sold, resold and encumbered and reincumbered. The priest-king broke all those contract seals physically and the debt was all forgiven. Hebrews stole that concept and portrayed it as their own.
Issuing "money" as debt instruments is very old and belongs to that group.
You are right that there is a transitory period, but that is why POTUS made sure we were energy independent. Now we have no need of the Sand People in the ME or their oil. Our economy is bringing manufacturing back home, the corona virus will only speed up that process.Make things at home to be FREE of the dependence on others, produce energy at home to be free of sand countries ("petrodollar"), then free to cut loose the private banking consortium (FED) and nationalize the banks and take control of monetary policy. My dream is usury-free, but who know about that yet.
"Backing" a currency by some "scarce" commodity is a tried and true method of control. There is no need for that at all.
We are creative and industrious people. We innovate. We drive the world.
You are still stuck in the mindset that currency has to be backed by something external. It does not. The productive power of the people is the backing. That's all there needs to be.
This is what Germany did and their economy soared while the rest of the (1st and 2nd) was in depression. This is why Germany had to be destroyed - lest the rest of the world realize that States can issue their own unencumbered currency baked by the productive power of the People of the State and nothing more, and get ideas about kicking out the Rothschild bankers and taking back their own power.
Open system = a system built on grown and is healthy
System operates by increasing i.e., multiplying, always increasing, room for everyone
Closed system = a system build on scarcity and control of that scarcity
System operates by "continual decreasing" i.e., dividing, always increasing, ever smaller numbers, most do not benefit
Money backed by a "scarce" commodity is inherently suited only to a closed system.
Currency backed by the productive power of the People is inherently suited to an open system.
Whether wittingly or not, those who advocate a currency based on a commodity, are advocating for a closed system.
Scarce commodity or now, the People are the only productive power there is. No people = gold mined.
>virus situation
People have to work at something anon, that is a constant. Those who say "fuck it, I'm dropping out" are the ones who die. They aren't productive anyway.
Backing a yby any "scarce" commodity is a closed system and doomed to failure. You can divide the cookie only so many ways before the people decide those crumbs can't get any smaller.
Open system vs closed system.
One is freedom (although admittedly very foreign to you) or poverty and servitude.
The choice, in the end, will be yours.
The system is built on usury and un-repayable debt.
Get rid of usury, the FED and private banks.
> it's not a pragmatic solution to what we have now.
Why not?
Colonial scrip was issued, so were the greenbacks (the real reason Lincoln was assassinated).
What makes people think their currency has no value after the switchover?
Why would transition of a real currency necessarily require a zeroing out of contemporary savings?
Open vs Closed is valid in all times, anon.
No one ever wins in a closed system, so why would anyone choose it besides "that's the way things are" the way it's always been done" or "the way things are"?
There not just the 2 choices we are offered.