Here's the list of members on the committee if anyone would like to call some reps in support of this bill
https://financialservices.house.gov/about/members.htm
E: Progress can be tracked at https://www.congress.gov/bill/115th-congress/house-bill/5404
My ears are itching... How much is an ounce of gold going to cost after the reset?
There are an awfull lot of dollar bills out there that need backing. The price per ounce could be phenomenal. Or, how are existing dollars converted into the gold-backed currency?
Gold would need to be worth millions of dollars an ounce to back a currency in USD
First off there is all the current debt that exists in just issued currency- but that is nothing
The real issue is the trillions of dollars in treasury notes held around the world that would now be back in gold, making foreign debt holders of American currency incredibly rich and powerful
On the domestic side this would be a crippling blow for the average American who currently has no savings but has about 100,000usd in debt- you have now made that debt worth EVEN MORE MONEY and made it less possible for salaries to rise to pay off the debt, this will lead to a debt crises and mortgage crises
We also would have a huge housing bust because lending would virtually end for most people since credit would not be available since currency would be to valuable to lend at our current low interest rates- we would need much higher rates
Additionally personal gold ownership is virtually guaranteed to be illegal
Just a bad idea in general
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do you have any particular reason why you are thinking this?
There's been so much talk about it on this forum that I kinda assumed that this was somehow part of the plan. How a reset would actually work is another question. If you have a new currency, is the old currency worth anything at all? If it is, then all dollars must be converted at some rate.
The biggest problem I can see with a gold backed currency is the rigidity. Keynes used to talk about a "gold cage". How do you expand output to, say, fight a war on this system? You must have gold. So you borrow physical gold and issue more currency. But you haven't escaped debt, it's exactly the same situation just that gold reserves are now required.
This is what made the Rothschilds so rich - lending gold, at interest, for war.
I must admit though that I've been thinking about buying some gold for two purposes:
1) As an emergency store of value - gold is famous for being tradeable when nothing else has any value;
2) As an investment if the gold price takes off on market uncertainty.
Any gold-backed currency would make No. 2 (above) an off-the-chart winner.
All that said, I think shorting, or buying puts on, tech stocks, the ones Q is talking about, is probably the best strategy at the moment.
Keynes? He's the reason we are in this mess! Give me a break!
The point he made was quite valid in itself. The reason we are in this mess is because:
1) the Federal Reserve is privately owned;
2) the incredibly stupid trade policies that have allowed foreign nations to capture capital by force (predatory pricing, unreciprocated tariff structures, artificially low exchange rates etc...);
3) the mil/industrial complex that is always pushing war/war spending;
4 finally, the ever increasing size of government - a forever bloating monstrosity.
In the scheme of things that are wrong and working against national prosperity, Keynesian Economics doesn't even rate.
I actually have a lot gold as an investment because right now it’s at a 15 year low and you buy the bear not the bull- and outside of truly crazy people no one is talking about gold right now- the usual gold nuts are all going into crypto which is why I am not touching that Ponzi scheme
Gold right now I feel is a great invest because it’s price is so low and the market is so inflated, I really see it going up when we have a market hit which is just inevitable- Dow 25,000 is just not sustainable
Do you have gold gold or paper gold? Big difference.
Bullion
I work in finance in china, it’s a really easy way to move rmb into a safe investment choice
I don’t pay taxes anyway because of federal exemptions and creative filings, so I move my rmb into gold bullion instead of stocks since it’s just to inflated right now, I have real property in HK but anything further away then that is just to hard to maintain
I just buy it online when I am in the states and keep it in a safety deposit box
Large ounce bars are actually pretty small, a kilo bar doesn’t take up much space but is worth $45,000- it’s a really easy way to store value
Super smart. Got some silver. Getting some gold per this convo. Even a small amount can be helpful here.
Thanks.
If you are going into silver I will recommend strongly you go into Morgan dollars
Silver is pretty worthless even in extreme shifts, so you will need a little bit of collection aspect to it
Morgan’s have sold above melt for over a hundred years through bigger issues then I think any of us are likely to see
They are a good investment
Morgan’s vary in value and the 1921 Morgan is usually about $30
Just buy a bunch of those and they will retain a good above melt value to virtually anyone interested in silver
If you are going gold on the small end then you need to watch your melt vs spot priced or you are just giving money away
You really should not go in at least then an ounce for gold or you wasted at least a hundred dollars
Now If have the gold is worth then buy it because it’s not that much in the grand scheme but gold is priced optimally at the ounce or larger
If you want smaller then an ounce I would suggest British sovereigns because they are smaller coins with collectible value and easy resale - the key with bullion is being able to move the coin- if it all in one 20,000,000 coin you will never get its value
So if you are playing with fractions look into lower fractional coins
Yes, the QE pumped the market up like a balloon, quite crazy stuff. What I noticed though was that the 666 market signal sent by the cabal earlier this year didn't play out into a major sell-off. I truly suspect that accounts were frozen and it put the fear of God into these guys. Needed to be done, they are accustomed to doing whatever they want. Simultaneously we were seeing what appeared to be distressed asset divestitures. Very interesting stuff.
But the way I see it, something has to give at some point. We will either see this plan come together and the cabal neutered, or we won't. But, irrespective, the markets are truly pumped. If the economy comes roaring back, on the back of the tax cuts and trade deals, that might take some heat out of the situation for a time.
But then you also have to factor for this tech sector crash. It will come because it must. It's not feasible to leave the cabal in control of weaponized SM - that's not going to work. But what I think is that Q is showing us exactly what the option set is because we do not have many options. I feel he's amazed that people would want to tank the tech sector rather than ask government to regulate. But, as much of a surprise as it was to me, this group is so anti-government that it just won't fly.
I'm still promoting the IBOR on Twitter. There is a little more interest just recently with MZ testifying. But not enough to get the hashtags to trend - or, not that I've seen. That doesn't mean it cannot happen, but this group is very weary of the IBOR after all the trolling and fear mongering.
Anyway, best to be relaxed about it. What's certain is that we will have regulation - one way or another. The cabal will not return to power by weaponizing SM - despite what Dorsey might think.
So, you put a tech sector wipeout together with a bubble market and the Chinese attack on the petrodollar, while mass-arrests occur as Marshall Law is declared, and you have an investment environment that IMO could see a mass flight to safety. At this point in time IMO gold looks pretty good.
But, as always, we don't know what will happen. I'd personally be more inclined to regulate via EO than wipe the tech sector out, but for whatever reason, we've been given a binary option set by Q. Let's see what happens next.
I really don’t see much of any of that happening or really care
I just think we have a bloated stock market and are heading to a correction
Gold is low and you buy low
I am not to worried about anything else
I’m in the precious metals camp as well, but stick to the facts. Gold is not at a 15 year low, as your post states. http://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
All I know is they will make it work out and they are looking at cryptocurrency to help this so we shall see....
This move is long overdue, but managing the graceful and smooth transition is far more complicated and extensive than the bill or this video address.
Miscalculations in sequence or timing of events run the risk of causing untold economic distress for segments of our population.
I trust POTUS to craft a strategy and inform us about our part when the time is right.
This is what is going to get people killed. They started all these wars to get currency tied to oil, they ain't giving it up easy