I've been working pretty hard on a sequel to this. It'll be over an hour long, with a low res version here for free and a high res version for sale. :) I didn't mention a lot of things here due to time constraints ... the gold dollar, the Joachimstaller, Bretton Woods, and everything. I've also done a ton more research since this too ... above ground metal supplies, Friedman vs Rothbard, etc. Oh yeah ... and the new one is 1080 with new high res images! :)
Great images! However, I was hoping for a history of the US dollar that did not present the gold standard as a panacea. It would only be honest to acknowledge that if prices fell back to "real values" (what's a real value?) wages would fall too. I was also disappointed that the video did not discuss the currency situation before 1787, bimetallism in the early years of the republic, Jackson's Specie Circular, and the Coinage Act of 1873, aka the Crime of '73, and Bretton Woods.
Just wanna point out that if we converted back to the gold standard today all of our money would end up over seas, along with our jobs which are already mostly over seas. Also it would get hoarded by the top.
Artificially jacking up the currency is about the only way we can keep money in the system and still shop at Wal-Mart. I mean if you want to put high tariffs on foreign imports and subsidize local production and local spending (ideally through cooperative companies) it'd work, but only if.
He said at current prices a Silver Dollar (ounce) would be worth $13.00 of our old dollars worth O__O , $5000 / $13 per silver ounce = 384.5 ounces
This means a person would be able to BUY A HOUSE for only 384 ounces of silver.... WOW! , Invest in GOLD & SILVER NOW my people, Change is upon us :)
Everybody who sees this video spread the word if You can. Spread It. Spread It. Spread It. Spread . Spread ItSpread It. Spread . Spread ItSpread It. Spread . Spread It Vote 5 stars Vote 5 stars.
This is a very sexy video but the fact is, metal-based currency has its problems. So you fix the value of a dollar to the available precious metals on the open market... achieving a technical price stability of precious metals. What then? Well, most likely a world cold war to control mineral resources would occur. That could be pretty bad for legitimate industrial supply and use of silver, as the mineral supply is eaten up by hoarders and national banks. Anyway, it's not this simple.
Like Henry Ford China is increasing wages to create there own market such as the US & Great Britian once had. If China returns to a silver/gold system of money the US & World would have no choice but to do the same. It is not commerce that is keeping the US afloat it isour military and even that is becoming diluted.
When I was 16 you could buy a brand new Camero Convertable Z28 for $3.200.00. The price of gas was .24cents per gallon. That was in 1972. I'm only 56. We still had Silver Certificates floating around. You could legally carry around $1,000 dollar bills & $10,000 dollar bills & no one would say a thing about it. Now if you deposit more than $10,000 in your bank the bank has to notify the feds. WHY? Our finances are none of their business.
@understanding2012 No much, I graduated from high school in 73 and I was making $1 an hour working part time. After I graduated I was lucky & got a job with a local Rail Road and was making $7.50 an hour. I know that's not much but I was able to buy a brand new Corvette with those wages in 1975 at a cost of only $4,589.00. I'm still kicking myself for ever selling it :( Comparing buying that Z28 would be the value of a New High End Camero today, around $60 to $70,000. Crazy huh ?
@WulfBand yeah that's a big difference considering my current employer is paying me $14.50 p/hr! hard to believe the increase in commodities to wages... at the same rate of 611 hrs to buy your Vette in the 70's my 611 hrs will not even buy me a used Hyundai LOL. thanks
face it americans... you are slaves that are treated like little kids because you act like kids...you get permission from the government to exercise rights you have, and you fall on your face anytime the government or law enforcement give you an order....you even get licenses to marry, and carry guns....you dumb asses desearve to be treated like less than a free man...the problem is, you cause the rest of us to be forced into it to...so heres a big fuck you for complying
It's a good thing you added the sarcasm note on the part were Obama says yes we can because as most of us knows by now. Obama is working for the Feds! As much as I hated the "change we can believe in" slogan of 2008. I love how it is used here in this video.
Thanks for posting. It is a very accurate and good explanation of how modern monetary systems work. I agree with everything, except the conclusion that it is a bad thing. As you correctly mentioned, a gold or silver based system can be cornered and manipulated. The current system allows for continued growth and naturally limits inflation because at no given time is there enough money to actually pay the outstanding interest + principle.
@tsafa1 You can limit inflation by limiting the new debt at any time. Of course this leads to recession. That is the part that people do not understand. Recession is NOT the the problem... it is the cure. The only flaw in this system is that govt can borrow as much money as it wants without collateral. Govt does not every really have to pay back anything. They can just borrow to pay back the interest indefinitely. A balanced budget law would correct this.
@tsafa1 An important consideration is that the end goal of an economy is not to support its currency. The currency is just a tool to facilitate growth and prosperity. This requires people working and being 100% productive. A person that buys a house with a 30 year mortgage is now committed to the rat-wheel for the next 30 years. I, on the other hand, saved up an bought my house for cash. I only work part time now. That is good for me personally, but bad for the economy overall. I beat the system
That is just like me. No one has their claws sunk into me. I will not be a slave for a government plantation. I am always asking myself which country would I go to if the USA turns into a government plantation. Have you noticed how the politicians are attempting to limit the ways you can get your money out of the country?
@bkdmd RE: "politicians are attempting to limit the ways you can get your money out of the country?"
This is the reason businessmen set up import/export companies. They make deals with their foreign buying agents to overpay and them have a refund deposited in a foreign bank (less a commission to the agent). As they keep raising taxes, businessmen will find better ways to avoid them. This is part of the reason why US foreign trade seems so off balance.
Holy cow! There is one other reasonable person in the world. The downturns are part of the cure and what keeps an economy viable going forward. The more the government does to prop up an economy the worse they will make it going forward.
Why don't people understand the government can't prop up an economy with fiat currency and increasing the money supply and deficit spending forever?
re: "the government can't prop up an economy with fiat currency and increasing the money supply and deficit spending forever?"
The problem is that the govt CAN... but people don't understand the consequences of how it will continue to dilute their savings and how it is a hidden tax on everyone.
@bkdmd I think Obama has realized that he can't raise taxes through the congress to fund his socialist "Income Redistribution" agenda... so he is going to try to do it through the Fed Reserve. He will have Bernenki print money (hidden tax) so he can redistribute the wealth as he sees fit. Very sneaky. This abuse of the system may succeed in reforming the Fed Reserve down the road. I
@bkdmd I propose the the Federal Reserve Board Members be replaced with the Governors of each state. They would only be able to change the money supply or interest rates with a 2/3 vote. Given how hard it is to get 66% of the people to agree to anything, this would provide a lot more stability and true independence at the Federal Reserve.
i love silver coins. today we can go on a silver standard if not a gold standard because we have more silver than gold. gov only needs to fix the price of silver at 10 dollar per ounce for 20 years. then we can make a come back.
@LouieArrighi - I didn't say it did. Article 1, Sec 10 - "No State shall... use any Thing but gold and silver coin ..." So the states are supposed to use coin, but the same section says they can't coin themselves, so where are they supposed to get them? Aticle 1, Sec 8 ... "Congress shall have the power to COIN money ..." Not print, not set up a central bank, but to COIN the Coin of the Realm. So what's your point?
@JohnFromChicago Article1 Section 10 states that the US cannot enter into a treaty or alliance to produce money. an example twould have been, the Amero. you're trying to tie 2 sections together to prove a point, but your point is dishonest.
@LouieArrighi Dishonest? Really? Sec 10 contains prohibitions on the exercise of sovereignty by the otherwise sovereign "several States", including coining money. And the larger point of being required to use gold and silver is still valid. You never mention where they're supposed to get it. Coin is a matter or sovereignty ... especially in that era. We are supposed to have a Coin of the Realm. There's no getting around that, or the lack of authority to create a central bank.
Inflation is another hidden tax. A weeks wage saved in the 1930's would be only worth a few hours now. Except if the person invested in silver or gold.
Gold is just another step up the ladder. The only difference is that Gold is a step that everyone's on right now. If you truly believe in freedom, don't attack JUST the Fed and their monetary system. Strike at the core of the issue and look at the way the game is being played with different tokens. Find where the gold comes from and ask yourself if that is any more of a sovereign tender, or if it's just elite manufactured currency as well....
@dudesonman4200 I predict you have either gold stock or gold posessions. If either of these are true, then my powers of clairvoyance and your powers of bias are proven.
The point is that gold will hold its value longer than this paper money we have now. I want to ask, besides gold and silver, and other precious metals, what else do we have? Do you believe in the federal reserve system? If gold is another step up the ladder, then what is infallible, if anything?
I always thought salt was a good idea. It's the origin of the word salary in any case. But in all due seriousness...there is no single item that should outdo any other item for an extended period of time in my opinion. The focusing on a single currency in any standard is the reason for this "Global Tyranny" people always speak of. I say keep everything bouncing in the market, force stockholders to play nice with the people, etc. etc. but never give anything a set monetary value.
im all for coins over dollars yet drug dealers and pushers dont wanna be held down with pockects of coins and sides whne all u got is pockect change itsw gonna hurt like hell when u make it rain I LOVE HOW U ENDED IT WITH "thats change we can belive in"
woww.... 5 cents for a coke... 5 bucks for gas... dam! the economy would surely rise up quickly! and the money actually looks like it's worth something if this money was made.
Outstanding work! I love how your video is so short, sweet, simple, straight-forward, well researched, and yet so educational. This is an issue that is critical for so many to understand. Well done my friend! I'm usually into documentaries and educational videos that have a higher end production, however this is one of the best homemade videos I've ever seen! Good work and information, keep it up my fellow American Patriot!
USA is the only nation that dares to ban gold standard on this planet. So the value decreased for the dollar is inevitable. But, other nations like EU, UK, AU, CAN...etc,their money just would not promise anything, even they're still in gold standard. So the point is, when the hyperinflation comes, no one is safe.
We got to have physical gold and silver to build the hedge against it.
people who feel getting paid in imaginary paper currencies should get paid in it all they want... let them eat their dollars backed by nothing, doing nothing and producing nothing... as for ME.. give me the gold and silver...!
First great video rock on! But question if we do restore the coinage act would there be any kind of paper money. Or are all promissory notes infact unconstitutional if so, how would banking work? Would I have to deposit my gold in a bank and the bank would then issue bank notes representing the gold that is deposited?
Great history lesson. Quiet unsettling. I do recommend a great book from Michael Maloney on the subject: Guide to Investing Gold or Silver. A Rich Dad's Advisor series. Great motivator to start buying Silver... and Gold if you can afford it. Not such an easy task unless you are sitting on a lot of cash... but there are ways. Would lover to post your videos on my website if you don't mind.
He absolutely pledges to dismantle the FED ( a PRIVATE banking institution ) back into the complete (now very little) control of Congress and start minting gold and silver once again!
I cite to him that gold has been viable since Nimrod and Babylon (that's another story) Gold has usefulness in electronics, dentistry and of course at the very least our lady friends love to adorn themselves with it. Bottom line folks, if Ron Paul runs again next election, do the constitution a favor and vote for him, and put something real in your pockets as he WILL do if elected.
when he asks why, I ask him what he'll do when and I do mean WHEN not IF the dollar gets hyper-inflated and his retirement check is now worthless. I say "sure dad they'll still send you a check for your money but it will have no "buying power" What good is getting a $1000 a week check if a loaf of bread costs $50.
nice job john, I love it when hear from guys like you who actually get the fact that our money is "fiat" I was LMAO when you compared it to monopoly money because I say that all the time to my dad (baby boomer) trying to convince him to buy and take physical possession of gold and silver.
This will happen. The professionalism of this video is implicitly telling you that good changes are on the way. Do not hang on to your dollars to tighly, or guess what?...
You will lose them... that's a biblical philosophy here and morally true and will probably be implimented. But get rid of you dollars and purchase silver eagles or silver, copper bullion...
Great presentation I'm completely with you, but nothing is going to change. At least not without revolution or a war, or a war and a revolution. The powers that be like things the way they are.
No, the best way is to Obey the Law...our Constitutional Father's weren't stupid men and we should simply go back to what they created. It works! But since the puppets in Washington D.C. don't have the fortitude to do the right thing, plus, since they are controlled by powers unrevealed to the public it would take a REAL MAN to institute Constitutional Law. Heck, we can't even get a 3 party system going how the heck could Constitutional Law be effected?
To all who think that our country was founded as a Democracy. It wasn't, our country was founded as a Republic. It states this in the Constitution. Constitution: Article 4; Section 4; is named Republican Government(The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion; and on Application of the Legislature, or of the Executive (when the Legislature cannot be convened) against domestic Violence.
Many people would like that system to come back, me the first. But here is the BIGGEST problem. All western countries have become Nanny States, and without the possibility of taxation through inflation and debt, they wouldn't be able to give to their voters; Pentions, Welfare, Gov. Jobs, ... As long as you are in a democracy, those who promis to give out more than they appear to take will be voted in. If Ron Paul had been elected, there would be strikes and protests like you can't imagine.
But I got a crazy idea, it might even make paper money work. Why not base money's worth off of land or property? It would make more sense as that stuff is actually usefull. Just a thought...
Yes, that is something people don't think about and when you talk about the "gold standard", people imply that economic growth is limited by the amount of gold you can pull out of the ground! I think you give land and property a value IN GOLD, then banks can hold property and make loans against that property. This way wealth can never be fabricated, but economic expansion can occur at reasonable, and market-controlled levels.
But practically speaking gold and silver really aren't worth anything more than paper. How is money suppose to represented by something that has no value? Well its obvious that gold and silver have much value in the eye's of many people but practically speaking its just as useless as a rock. Silver and gold are soft, delicate, easily broken metal. Its not usefull like steel and iron are, but if you asked me what I'd rather have... Paper or gold. What do you think I'd say? I want the gold...
Monetization of the debt is totally regressive. This is why the poor are so poor. Because of the Fed. Think of it. Who is counterfeiting? The Fed who gives the money to the Banks. And they still leveraged it so much they defaulted. END THE FED.
Problem with a metal based currency is, that the metal market today is totally riged and in the hands of the "Makers & Shakers" who own and print the notes.
Thus, these crooks easily can corner the gold/silver supply for themselfs and could create a devastating deflation unless - as the video says - the _issueing_ is done by people that can be held accountable for their actions.
Why would they print notes? If congress actually followed the law wouldn't only the US Mint create money? All the "crooks" could do is sell the metals to government.
Even if people in the market decided to print notes backed by metals it would most likely be similar to what the liberty dollar was making. And they weren't manipulating anything.
2:00 Good 2 part insight, but we europeans (i.e. these dictators in Brussels) did even worse with our money - which before were reserve notes like the Dollar but with a more restrictive issueing policy and metal/pension backing.
In case of the former DMark, it also was bound to the Dollar.
Look at a EUR note ! There is almost NO wording on it.
It doesn't even say anymore that it's a bank note.
We're paying with an "accounting unit" in paper form.
That you come up with the example of the euro implies you think the difficult part would be to get the old notes in and new ones out.
However, the would be to make the monetary systems of the world work like they did 50+ years ago.
The very flexible (and different) system we have today is an attempt to fix the problems of the old one, and is jointly responsible for the success of western societies.
Im not a fan, but what we need is an alternative, not a downgrade
well the success you speak of wasnt real then was it? The U.S. has basically been robbing the rest of the world with a phoney dollar. Nations are wealthy because of resources and production. Having an economy built around over paid service workers cant last forever. The pharmeceutical industry comes to mind. If things get ugly those companies creating pretty little baby blue pills for symptoms of normal day to day life will go down the crapper along with all their overpaid employees.
it wouldnt be a downgrade i dont think you were listening. there was no problem with the old system, except for the greed of some people who wanted more money. Real wealth grows slowly not like it does today. this shit has been happening since the dawn of fucking time, gold and silver are the only way to go and the founders knew that.
I agree with much of the video but I must point out at least two problems with it:
First, silver and gold coins CAN and HAVE been counterfieted and if it is paper money back by gold or silver that can be counterfieted just as easily as today's money.
Second, showing your paycheck and saying wouldn't you rather have money thisway instead of that way is well no so honest because your salary would be adjusted as well.
Are you sure counterfieted is the right word to use? I think what he meant was that if you "counterfiet" it, it would still be made of Gold or Silver, hence still have a the same value and not matter if it is minted or not. The only exception is using cheap metals passing them off as Gold or Silver but there are measures people take to ensure its purity. So as long as people checked, they would not be able to be ripped off cuz they got the metal which is what makes the value of the piece.
In the past, people used to use lead and coated it with gold to pass it as a gold coin. They did similar things with silver. Now you can cut it open and discover the issue but it's still counterfiet and will fool the majority of people more of the time (think lines are hassles now). Another thing that you can do is shave a coin, where you shave a tiny bit off. We would have to go by weight and not visual exchange. Also coin (especially gold) loose weight naturally with wear.
it begs the question, would it not be better to get some value out of your counterfeited piece than nothing at all like we do now with counterfeited dollars? There have been measures taken to ensure Gold purety. Certain mints set up exchange centers where you could have gold minted and transfered. While you say that lines are a hassle and they may have been, with technology it could easily be monitored and ensured.
Not sure if 'some' value would be better than none depending on the situation. Sure we'd rather have some gold instead of no gold but other forms of currency can be insured (not an idea situation) and reduce that risk.
I do disagree with the statment "technology ... could easily..."
For ex, if all gold was transfered by card, those responsible for ensuring purity and saftey of its transfer would be the banking institutions and no doubt other types would spring up. That would eliminate all the concern with dealing with gold but still allow us to have all the benefits. Ultimately, no matter what source money derives from, it is subject to the same issues. Gold is a much wiser way to ensure that if you store a coin for 40 years and use it, it will have the same value.
Let say you are backing the dollar with gold. I only have slight issues with this. I like the idea of our dollar backed by gold or even uranium or something. My only issue with that is that is inflates the price of gold. We use gold, silver, etc. in many industrial applications it would raise the price of these materials and gold itself.
I am not sure if that fundamentally makes sense, because "the price of gold" can't go up, Gold is currency. It will just allow you to buy goods and services at a cheaper price and we would be paying 5cents for a gallon of milk again. Not bad in my opinion.
That is what I mean by the price of gold increasing. As gold becomes more rare, ie: industrial use, loss, or hording, then the value of gold increases. Prices for goods will drop across the board. It's not that the value of these goods are suddenly cheaper for everyone, it just means that people that have gold have increase the value of that gold. I doesn't make things cheaper, but it does control inflation by reduceing or eliminating artificial devaluation.
As far as industrial uses for gold, I guess we would need to address those seperately because I am not aware of what they are or if there are any substitutes for gold in those industries. I mean, considering all the good that would be accomplished by a gold standard (or precious metals for the most part), are those industries significant enough to sacrifice the benefits a gold standard will produce?
Yes, it is a different discussion but they relate to each other. Many of these product could use other materials, our cable connectors could easily use another material. But other stuff makes it more difficult espeically when you get into high precision instruments, computer components, nano manufacturing with self assembly components. The cost of those technologies would sky rocket.
Learning about the gold standard made me start wondering who the big names are behind all these commercials that seemed to blow up on t.v. the last few years trying to buy peoples unwanted gold? Do these people know the American dollar is more than likely screwed or just very good investors trying to stay ahead of the curb?'
It's going to come down to the current american population is not going to want to have a pocket full of heavy change, in the form of gold coins. It would be way too inconvenient.
the only thing my friends is that it ain't gonna be wrote united states of America on the dollar but like Europe did it's gonna be the north American union on the dollars and since 1999 the people who where the surety on the loan's can by back their freedom!
Sounds good but if we start doing that tomorrow there will be no liquidity. The economy will halt immediately. This will be like rising interest rate 20% overnight. In the short term everything will die. Though in the long term value will be restore. No gov will the will to do that. The people will revolt. Just like people are angry about Obama for tax and trade bill.
Digital money is just a number on a file in a bank account, banks in cahoots can in effect invent money that does not exist similar to the bank note of long ago. With a license to print money each bank in the cahoot can fractionally lend the nation into a new economic meltdown for a digital age.
Our focus is the futures where people may want capital to travel faster safer and more efficiently. How will you shop in zero gravity? Having just one currency may not be a good choice. Remember "Independence day"?
1. It's unconstitutional therefore illegal. My first priority is to adhere to the law. 2. It's a big if. Statistically, wages have not even come close to the rate of inflation. Most people are going backwards. 3. You didn't even consider savings. Inflation destroys savings. As many have learned, putting your money on Wall Street or in equity in your house is NOT SAVINGS.
Thanks for advocating for the status quo. The rich and powerful need your help!
No, I'm assuming we'll get paid the same in spending power. If you make $500/week now, that would be a half ounce of gold, or one Eagle per week. If you're asserting that I think we'll make 500a week when $20 is a gold ounce, or that price drop will correlate to modern fiat dollar amounts, you're wrong. I didn't say that. You're either not paying attention or attempting to spin my video.
I completely agree with the video on the ultimate goal of stabilizing the currency system. However, even with a new gold standard, we would still be sending "gold money" to China for our goods because the rich have moved our productive capacity over there.
A gold standard would protect the value of the dollar. However, it would not save us from the corrosive consequenses to standard of living when dealing with globalization, free trade, illegal immigration, corporate fraud.
The problem is that our US government is a bankrupt corporation (UNITED STATES, inc.), owned by the international banking cartel. The only solution to the problem is to abolish the entire banking system, which is a fraud to being with, and simply choosing not to participate in the game of commerce. It sounds impossible, but we can do this. First we must reclaim our identity and get out of the game, and second we must join together to form our own societies. Life should not be a game of Monopoly.
Good comment. Get rid of the Fed, amend the constitution to specifically outlaw anything like it, and implement 100% full reserve banking. Make banks obey contracts like any other business, and any that cannot pay on demand to ALL on-demand depositors are immediately liquidated, and their leaders are sent to prison for fraud.
Your presentation is awesome, I appreciate and will share with others
One request the pondering of a scenario
Where is the Gold & Silver to back up our cash?
We have to consider with logical consideration the Precious Metals have been robbed by now after so much time since 1913/1933 and are likely not within the continental 48 & Hawaii or Alaska
We are dealing with a cabal that will not relinquish control of what they stole from US
When questioned, Ben Bernacke claims there is "a lot of gold" on the Fed's balance sheet, whatever that means. Considering the financing of wars and social programs, it's vitally important we continue to relentlessly push for the restoration of sound Constitutional lawful money. With the domestic money supply at about 1 trillion, we'd need about a billion ounces of gold and silver. That's a lot of metal. Can we do it? Yes we can!
I believe we can do...First thing is we must educate ourselves and plant seeds in others to do the same, then we must by consensus begin the process of Non-Compliance to the present and future systems, they only have the power that we give to them thru consensus
Asa part of extensive research and to my knowledge Mr. Bernacke is a confirmed perjurer and elitist frontman, unfortunately the Precious Metals are not located here anymore...
There is a lot of gold on the "Fed's balance sheet".
That's because the Fed "leased out" a lot of gold, but the "leased out" gold somehow still counts on the "assets" side of the balance sheet. Accounting fraud in broad daylight.
But if we were to go back to being a producing & exporting nation again, we could accumulate all the gold we want... just like we we did the first time!
Ron Paul's been trying to find out - for a long time now - how much gold the Fed really holds.
Oh I'm pretty sure the money supply is far higher than that. I don't think a billion ounces of precious metal is really feasible. In fact, if we were to implement a gold standard right now we would need to set it at $9,000+ an oz. I think the best way to go about this is to end legal tender laws, phase out the Fed, and make taxes payable in Fed notes, gold, or silver during the transition. After the transition, taxes only in gold, silver, private transactions in whatever the parties choose.
Sight ,...it took Black Thursday to make the Federal Reserve ,. in hte early 1900th ,... and today we are living the same shit ,..a big economic crash to bring up the AMERO ... thats it ,...GOld/Silver is the only Key
I just went to the store today. I spent $118 Federal Reserve Notes. In gold, the bill would have been about 1/10th ounce, or a Tenth Eagle coin (smaller than a dime). In silver it would have been about 8 dollars. Also, there's no reason to think we wouldn't still have paper money - but it would be Certificates or Notes rather than FRNs. There's also no reason you couldn't use a debit card. My account would get hit for $8 instead of $118.
I think you put that in very good terms. The whole point of a commodity standard is to preserve purchasing power, eroded by over 97% since 1913. Thanks for doing these videos and helping to get the word out!
Nice job. I often wonder if political action on the national level is the most viable place to look for a solution. I see a number of community currencies and private action taking place. To me the solution lies in the heart of power.The question is only a matter of discovering who has the power - is it Congress or is it the people? Knowledge gives you the key - action turns the lock and opens the door. That my friends, is the quickening pulse of power.
Yes, I agree. Political action on a national level is going to be required. And not just a big demonstration, but something with real teeth like a national strike, or a national withdrawal day. But the first step is educating the public. This video, and the many others that inspired it need to be widely seen, So please share this movie!
And we could have had all of this if the people in this country had listened to Ron Paul & learned to think for themselves instead of listening to the fucking sell outs in the mainstream media. We would be well on our way Right now !! But everyone bought into the hype of the Obama bullshit & now We'll have to wait 4 years to get another shot if we get it at all. VENTURA 2012 !!!!
I personally don't understand what Obama has to do with this, besides him being the next president. I don't think he was born yet when FDR passed that law. Personally I agree with what you say about the Fed and how they are not constitutional however I personally would rather have paper money (backed by gold) than carry around coins. Also, considering our debt, I fear that if we start messing around with are currency then foreign nations might just call in our debt - which we can't pay.
Darn. I was going to post this to Facebook and elsewhere until Obama popped up in it. That's too bad. Excellent video otherwise. Maybe I'll just post part 1.
Assuming a return to gold, hasn't most of the gold been stolen thru confiscation by the same people who rammed the paper money ponzi schemes down the world's throat, and, therefore, wouldn't we all be in pretty much the same situation we are in now, ie, penniless and lorded over by undeserving in-bred money-changers?
Inflation is not bad either- it helps economic growth. It only becomes bad when it reaches hyperinflation levels or is deflationary.
And carrying around tons of coins all day- that's ridiculous to think that people would want that over paper money or use their visas.
As for the standard of living from below, dual income families resulted from people wanting a higher standard of living, a.k.a. more stuff, not as a result of printing money.
Comparative advantage (you spelled it wrong) is a commodities trade equalizer and has nothing to do with money. Inflation compounds like interest and is one of the exponential curves that has begun to kill us.
The change we carry now would have vastly more spending power, only making it more usable. And who said anything about getting rid of plastic? What difference does it make if you're charged $1 or $20?
Do you really think dual incomes is a luxury? You're not just wrong, you're lying.
Like commodities, currencies are traded for goods via foriegn exchange, along with traders in open markets. Through this system, the value of a dollar is determined by comparative advantage. This method of dollar valuation takes all common knowledge about many economic factors to determine the forward and spot rates of a dollar. Money is always valued relative to another in this system. It's not like mercantilism, where whoever has the most gold is richest. In this way, production backs money.
Your wrong. Wealth is created by work done. This is why it's worth to have some inflation for low unemployment. Inflation causes more people to invest money instead of having it sit somewhere. Also when coke's were 5 cents, wages were very low. Wages have grown at just about the same rate as inflation. Houses were $5,000 but it's going to take a while to buy one when you're earning 25 cents an hour. I can argue that gold and silver are similar to baseball cards or old stamps.
No ... I don't believe I am wrong. Wages have not kept up with inflation. If they have then why do we need to incomes in every household plus credit to maintain our standard of living, whereas before we only needed one? Why has the average car note gone from 2 years to 5? And if you think gold is the same as a baseball card, try spending a baseball card. You can spend gold or silver anywhere.
From my own laymans understanding, fiat money isn't inherently bad, eg, check out Tally Sticks which functioned extremely well for 700 years. As long as there is a built-in demand for your money, there will be a demand for it. And as long as the money is not produced by a self-interested 3rd party, and as long as money is rightly used to facilitate the exchange of real goods, not as an end in itself, the total amount in circulation, and hence inflation, is easily controlled, eg, Social Credit
Fiat money inherently destroys freedom and human rights because it enables huge government. It is inherently evil because it requires government enforce it's value. Paper backed by paper is ultimately backed by government force. If you take gold anywhere in the world, any time in the history of civilization, the Mayans, Rome, Sumeria, Rome, Greece, Egypt ... you have money. Precious metals are naturally considered money by human nature. An FRN requires enforcement.
you say "as long as money is not produced by a self interested 3rd party..."
lol, how do you accomplish that? Give the responsibility or anyone with the greatest integrety and they'll turn to the dark side!
Using precious metals gives the power to no one. Therefore it cannot be corrupted by anyone. Tally sticks may be good for a nation but not so much world-wide. Gold and precious metals are good anywhere!
I like the videos John. But you seem to imply that prices would "fall" relative to wages which would remain at todays levels. The "$5,000 house" vs. "If you make $450 a week" .... this of course would not be the case as, using oversimplified math, you would make $35 a week to buy that $5,000 house. "It's all relative" to what the definition of a dollar is. Makes no difference if a Coke is .05 or $1.
Big problem with people new to hard money thinking is they assume it will create a utopia.
Yes, you are correct. I made a short video to explain the basics to an attention deprived populace. I did simplify, perhaps oversimplify some things. I guess where we differ is that the $5000 house wouldn't go up or down in value much, the 5¢ coke will always be 5¢. You won't need a VISA card to stop at the gas station when the change in your pocket will suffice. Yes it's all relative, but only to a degree. When we had hard money here, no Utopia bloomed. But our liberty was more secure.
I've been working pretty hard on a sequel to this. It'll be over an hour long, with a low res version here for free and a high res version for sale. :) I didn't mention a lot of things here due to time constraints ... the gold dollar, the Joachimstaller, Bretton Woods, and everything. I've also done a ton more research since this too ... above ground metal supplies, Friedman vs Rothbard, etc. Oh yeah ... and the new one is 1080 with new high res images! :)
JohnFromChicago 2 months ago
Great images! However, I was hoping for a history of the US dollar that did not present the gold standard as a panacea. It would only be honest to acknowledge that if prices fell back to "real values" (what's a real value?) wages would fall too. I was also disappointed that the video did not discuss the currency situation before 1787, bimetallism in the early years of the republic, Jackson's Specie Circular, and the Coinage Act of 1873, aka the Crime of '73, and Bretton Woods.
Felsinae 2 months ago
Just wanna point out that if we converted back to the gold standard today all of our money would end up over seas, along with our jobs which are already mostly over seas. Also it would get hoarded by the top.
Artificially jacking up the currency is about the only way we can keep money in the system and still shop at Wal-Mart. I mean if you want to put high tariffs on foreign imports and subsidize local production and local spending (ideally through cooperative companies) it'd work, but only if.
Laughingblades 2 months ago
Paper money is more convenient to carry around :/
Laughingblades 3 months ago
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MY GREATNESS. He said $5,000 for a house O__O
He said at current prices a Silver Dollar (ounce) would be worth $13.00 of our old dollars worth O__O , $5000 / $13 per silver ounce = 384.5 ounces
This means a person would be able to BUY A HOUSE for only 384 ounces of silver.... WOW! , Invest in GOLD & SILVER NOW my people, Change is upon us :)
Y3GRAPHIX 3 months ago in playlist Our Money
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Y3GRAPHIX 3 months ago in playlist Our Money
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Y3GRAPHIX 3 months ago in playlist Our Money
Everybody who sees this video spread the word if You can. Spread It. Spread It. Spread It. Spread . Spread ItSpread It. Spread . Spread ItSpread It. Spread . Spread It Vote 5 stars Vote 5 stars.
mrfortion408 3 months ago
Damn good overview, John! Just too bad only 30-odd thousand views instead of 300+.
deliriousdan637 7 months ago
This is a very sexy video but the fact is, metal-based currency has its problems. So you fix the value of a dollar to the available precious metals on the open market... achieving a technical price stability of precious metals. What then? Well, most likely a world cold war to control mineral resources would occur. That could be pretty bad for legitimate industrial supply and use of silver, as the mineral supply is eaten up by hoarders and national banks. Anyway, it's not this simple.
lavideomania 11 months ago 2
watch?v=0kb1qRHZbrw
tritonfromunited 11 months ago
We need Glass Steagill.- Lyndon LaRouche
Swornbrotherz 1 year ago
omg at 3:27 i saw that on pawn stars
SPARTA4309 1 year ago
I wish i could buy a half oz of gold for $450
Steve2323ZX 1 year ago
Like Henry Ford China is increasing wages to create there own market such as the US & Great Britian once had. If China returns to a silver/gold system of money the US & World would have no choice but to do the same. It is not commerce that is keeping the US afloat it isour military and even that is becoming diluted.
buzzz121 1 year ago
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Кредит 17%. М МО. Без справок и поручителей. Консалтинг 25%. Другие варианты. (495)2200660 2200660@mail.ru
tiblon1 1 year ago
When I was 16 you could buy a brand new Camero Convertable Z28 for $3.200.00. The price of gas was .24cents per gallon. That was in 1972. I'm only 56. We still had Silver Certificates floating around. You could legally carry around $1,000 dollar bills & $10,000 dollar bills & no one would say a thing about it. Now if you deposit more than $10,000 in your bank the bank has to notify the feds. WHY? Our finances are none of their business.
WulfBand 1 year ago
@WulfBand how much were average wages in 1972? ie the Z28 would be comparable to what car these days in terms of average yearly salary. thanks
understanding2012 10 months ago
@understanding2012 No much, I graduated from high school in 73 and I was making $1 an hour working part time. After I graduated I was lucky & got a job with a local Rail Road and was making $7.50 an hour. I know that's not much but I was able to buy a brand new Corvette with those wages in 1975 at a cost of only $4,589.00. I'm still kicking myself for ever selling it :( Comparing buying that Z28 would be the value of a New High End Camero today, around $60 to $70,000. Crazy huh ?
WulfBand 10 months ago
@WulfBand yeah that's a big difference considering my current employer is paying me $14.50 p/hr! hard to believe the increase in commodities to wages... at the same rate of 611 hrs to buy your Vette in the 70's my 611 hrs will not even buy me a used Hyundai LOL. thanks
understanding2012 10 months ago
face it americans... you are slaves that are treated like little kids because you act like kids...you get permission from the government to exercise rights you have, and you fall on your face anytime the government or law enforcement give you an order....you even get licenses to marry, and carry guns....you dumb asses desearve to be treated like less than a free man...the problem is, you cause the rest of us to be forced into it to...so heres a big fuck you for complying
longfootbuddy 1 year ago
@longfootbuddy
Get bent!!!
bkdmd 1 year ago
i liked the pun at the end there
brotherbongo 1 year ago
Great presentation man! Nice music, high quality images and good, clear explanation!!
xilliah 1 year ago
It's a good thing you added the sarcasm note on the part were Obama says yes we can because as most of us knows by now. Obama is working for the Feds! As much as I hated the "change we can believe in" slogan of 2008. I love how it is used here in this video.
kevinal 1 year ago
Thanks for posting. It is a very accurate and good explanation of how modern monetary systems work. I agree with everything, except the conclusion that it is a bad thing. As you correctly mentioned, a gold or silver based system can be cornered and manipulated. The current system allows for continued growth and naturally limits inflation because at no given time is there enough money to actually pay the outstanding interest + principle.
tsafa1 1 year ago
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tsafa1 1 year ago
@tsafa1 You can limit inflation by limiting the new debt at any time. Of course this leads to recession. That is the part that people do not understand. Recession is NOT the the problem... it is the cure. The only flaw in this system is that govt can borrow as much money as it wants without collateral. Govt does not every really have to pay back anything. They can just borrow to pay back the interest indefinitely. A balanced budget law would correct this.
tsafa1 1 year ago
@tsafa1 An important consideration is that the end goal of an economy is not to support its currency. The currency is just a tool to facilitate growth and prosperity. This requires people working and being 100% productive. A person that buys a house with a 30 year mortgage is now committed to the rat-wheel for the next 30 years. I, on the other hand, saved up an bought my house for cash. I only work part time now. That is good for me personally, but bad for the economy overall. I beat the system
tsafa1 1 year ago
@tsafa1
That is just like me. No one has their claws sunk into me. I will not be a slave for a government plantation. I am always asking myself which country would I go to if the USA turns into a government plantation. Have you noticed how the politicians are attempting to limit the ways you can get your money out of the country?
bkdmd 1 year ago
@bkdmd RE: "politicians are attempting to limit the ways you can get your money out of the country?"
This is the reason businessmen set up import/export companies. They make deals with their foreign buying agents to overpay and them have a refund deposited in a foreign bank (less a commission to the agent). As they keep raising taxes, businessmen will find better ways to avoid them. This is part of the reason why US foreign trade seems so off balance.
tsafa1 1 year ago
@tsafa1
Holy cow! There is one other reasonable person in the world. The downturns are part of the cure and what keeps an economy viable going forward. The more the government does to prop up an economy the worse they will make it going forward.
Why don't people understand the government can't prop up an economy with fiat currency and increasing the money supply and deficit spending forever?
bkdmd 1 year ago
re: "the government can't prop up an economy with fiat currency and increasing the money supply and deficit spending forever?"
The problem is that the govt CAN... but people don't understand the consequences of how it will continue to dilute their savings and how it is a hidden tax on everyone.
tsafa1 1 year ago
@bkdmd I think Obama has realized that he can't raise taxes through the congress to fund his socialist "Income Redistribution" agenda... so he is going to try to do it through the Fed Reserve. He will have Bernenki print money (hidden tax) so he can redistribute the wealth as he sees fit. Very sneaky. This abuse of the system may succeed in reforming the Fed Reserve down the road. I
tsafa1 1 year ago
@bkdmd I propose the the Federal Reserve Board Members be replaced with the Governors of each state. They would only be able to change the money supply or interest rates with a 2/3 vote. Given how hard it is to get 66% of the people to agree to anything, this would provide a lot more stability and true independence at the Federal Reserve.
tsafa1 1 year ago
i love silver coins. today we can go on a silver standard if not a gold standard because we have more silver than gold. gov only needs to fix the price of silver at 10 dollar per ounce for 20 years. then we can make a come back.
Rico8458 1 year ago
Good vid mate ;)
eojbhoy67 1 year ago
Brilliant! Pardon my blasphemy, but you're a god!!! :-)
ostralopithicus 1 year ago
Article 1 Section 8 does not mention gold or silver. that is non-factual.
LouieArrighi 1 year ago
@LouieArrighi - I didn't say it did. Article 1, Sec 10 - "No State shall... use any Thing but gold and silver coin ..." So the states are supposed to use coin, but the same section says they can't coin themselves, so where are they supposed to get them? Aticle 1, Sec 8 ... "Congress shall have the power to COIN money ..." Not print, not set up a central bank, but to COIN the Coin of the Realm. So what's your point?
JohnFromChicago 1 year ago 12
@JohnFromChicago Article1 Section 10 states that the US cannot enter into a treaty or alliance to produce money. an example twould have been, the Amero. you're trying to tie 2 sections together to prove a point, but your point is dishonest.
LouieArrighi 1 year ago
@LouieArrighi Dishonest? Really? Sec 10 contains prohibitions on the exercise of sovereignty by the otherwise sovereign "several States", including coining money. And the larger point of being required to use gold and silver is still valid. You never mention where they're supposed to get it. Coin is a matter or sovereignty ... especially in that era. We are supposed to have a Coin of the Realm. There's no getting around that, or the lack of authority to create a central bank.
JohnFromChicago 1 year ago 4
@JohnFromChicago beautifully stated:)
SlangLargeAmounts 1 year ago
@JohnFromChicago We gave up our right to coin our own currency to private powers unfortunately.
Laughingblades 3 months ago
Inflation is another hidden tax. A weeks wage saved in the 1930's would be only worth a few hours now. Except if the person invested in silver or gold.
dropkickdrop 1 year ago
Nice two part series.
TheChiefSteel 1 year ago
ok, but i can't hold coins in a rubber band
julianbell90 1 year ago
Gold is just another step up the ladder. The only difference is that Gold is a step that everyone's on right now. If you truly believe in freedom, don't attack JUST the Fed and their monetary system. Strike at the core of the issue and look at the way the game is being played with different tokens. Find where the gold comes from and ask yourself if that is any more of a sovereign tender, or if it's just elite manufactured currency as well....
1989wasborn 1 year ago
@1989wasborn
Gold will always be gold. In my opinion, it will never lose its value.
dudesonman4200 1 year ago
@dudesonman4200 I predict you have either gold stock or gold posessions. If either of these are true, then my powers of clairvoyance and your powers of bias are proven.
1989wasborn 1 year ago
@1989wasborn
The point is that gold will hold its value longer than this paper money we have now. I want to ask, besides gold and silver, and other precious metals, what else do we have? Do you believe in the federal reserve system? If gold is another step up the ladder, then what is infallible, if anything?
dudesonman4200 1 year ago
I always thought salt was a good idea. It's the origin of the word salary in any case. But in all due seriousness...there is no single item that should outdo any other item for an extended period of time in my opinion. The focusing on a single currency in any standard is the reason for this "Global Tyranny" people always speak of. I say keep everything bouncing in the market, force stockholders to play nice with the people, etc. etc. but never give anything a set monetary value.
1989wasborn 1 year ago
im all for coins over dollars yet drug dealers and pushers dont wanna be held down with pockects of coins and sides whne all u got is pockect change itsw gonna hurt like hell when u make it rain I LOVE HOW U ENDED IT WITH "thats change we can belive in"
MUCKSTICKYIZZY 1 year ago
Thanks John for a fantastic video. Like all great videos, it needs to be viewed 2 or 3 times to let it sink in. Cheers mate.
bluebaboo756 1 year ago
woww.... 5 cents for a coke... 5 bucks for gas... dam! the economy would surely rise up quickly! and the money actually looks like it's worth something if this money was made.
12345soccerguy 1 year ago
The United States Mint is issuing 56 new quarters that feature different U.S. National Parks and other national sites.
LauraLizabe 1 year ago
obama on the 200$ and JFK on the 500$!!
raoulhery 1 year ago
Outstanding work! I love how your video is so short, sweet, simple, straight-forward, well researched, and yet so educational. This is an issue that is critical for so many to understand. Well done my friend! I'm usually into documentaries and educational videos that have a higher end production, however this is one of the best homemade videos I've ever seen! Good work and information, keep it up my fellow American Patriot!
killthespyder 1 year ago
Yeah but can I slip a coin into a stripper's g-string? Got an answer for that?
liukuihan 1 year ago
USA is the only nation that dares to ban gold standard on this planet. So the value decreased for the dollar is inevitable. But, other nations like EU, UK, AU, CAN...etc,their money just would not promise anything, even they're still in gold standard. So the point is, when the hyperinflation comes, no one is safe.
We got to have physical gold and silver to build the hedge against it.
mich65ek2 1 year ago
people who feel getting paid in imaginary paper currencies should get paid in it all they want... let them eat their dollars backed by nothing, doing nothing and producing nothing... as for ME.. give me the gold and silver...!
oh and thanks for the great video!
Peonmite 1 year ago
First great video rock on! But question if we do restore the coinage act would there be any kind of paper money. Or are all promissory notes infact unconstitutional if so, how would banking work? Would I have to deposit my gold in a bank and the bank would then issue bank notes representing the gold that is deposited?
poetyaright 1 year ago
great video
fatuglypug 1 year ago
Great history lesson. Quiet unsettling. I do recommend a great book from Michael Maloney on the subject: Guide to Investing Gold or Silver. A Rich Dad's Advisor series. Great motivator to start buying Silver... and Gold if you can afford it. Not such an easy task unless you are sitting on a lot of cash... but there are ways. Would lover to post your videos on my website if you don't mind.
FreeGoldorSilverTV 1 year ago
Thanks JohnFromChicago! - DanFromMarltonNJ.
iannetta11 1 year ago
one of the best vids on money, on you tube!
excellent!
and yet ONLY 22thousand people have seen it!
some one sings a song and 1million people watch it in the frist couple hours!
WAKE UP AMERICA!
PS you better be buying gold and silver.. the day is fast coming when you will wish you did
cds162 1 year ago
He absolutely pledges to dismantle the FED ( a PRIVATE banking institution ) back into the complete (now very little) control of Congress and start minting gold and silver once again!
HypoLuxor 1 year ago
I cite to him that gold has been viable since Nimrod and Babylon (that's another story) Gold has usefulness in electronics, dentistry and of course at the very least our lady friends love to adorn themselves with it. Bottom line folks, if Ron Paul runs again next election, do the constitution a favor and vote for him, and put something real in your pockets as he WILL do if elected.
HypoLuxor 1 year ago
when he asks why, I ask him what he'll do when and I do mean WHEN not IF the dollar gets hyper-inflated and his retirement check is now worthless. I say "sure dad they'll still send you a check for your money but it will have no "buying power" What good is getting a $1000 a week check if a loaf of bread costs $50.
HypoLuxor 1 year ago
nice job john, I love it when hear from guys like you who actually get the fact that our money is "fiat" I was LMAO when you compared it to monopoly money because I say that all the time to my dad (baby boomer) trying to convince him to buy and take physical possession of gold and silver.
HypoLuxor 1 year ago
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amh1230 1 year ago
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amh1230 1 year ago
Fiat currency needs to elminated once and for all. Everyone in this country needs to boycott Federal Reserve Notes.
JOConnor100 1 year ago
Nice music
This video is done in a very professional way.
Thank for explaing the U.S money system in a simple and clear way. at 2:28 if new coins were introduced using the coinage act it would be simpler.
dtvfan24 2 years ago
This will happen. The professionalism of this video is implicitly telling you that good changes are on the way. Do not hang on to your dollars to tighly, or guess what?...
You will lose them... that's a biblical philosophy here and morally true and will probably be implimented. But get rid of you dollars and purchase silver eagles or silver, copper bullion...
ctel2009 2 years ago
someone who believes in this and is motivated to restore our nation to its prior should run for office, I would vote for u
MrSkate4weed 2 years ago 12
research ron paul if he runs for president in 1212
909mosca 1 year ago
@MrSkate4weed i agree
loveyalife2011 11 months ago
@MrSkate4weed and the answer for your question is RON PAUL 2012.
thuphuongle 8 months ago 6
@thuphuongle yes
swamplight79 2 months ago
Blame the space aliens.
Shmiggle2000 2 years ago
I agree with this guy
worldgoingtozero 1 year ago
Great presentation I'm completely with you, but nothing is going to change. At least not without revolution or a war, or a war and a revolution. The powers that be like things the way they are.
dflow100 2 years ago
Jeesuz, I hate that pretentious Floyd crap with a passion.
drmodestoesq 2 years ago
Great fuckin vid!!!!!
scgoquj86 2 years ago
Buy Silver & Palladium its the next Gold.
buzzz121 2 years ago
TAKE THE MUSIC OUT............AND SLOW DOWN WHEN YOU TALK , BECause YOU ARE SO FUXXXXCXXING ANNOYING .X
fantafulk 2 years ago
No, the best way is to Obey the Law...our Constitutional Father's weren't stupid men and we should simply go back to what they created. It works! But since the puppets in Washington D.C. don't have the fortitude to do the right thing, plus, since they are controlled by powers unrevealed to the public it would take a REAL MAN to institute Constitutional Law. Heck, we can't even get a 3 party system going how the heck could Constitutional Law be effected?
CowboySy 2 years ago
Awsome! Good job
andyswi 2 years ago
To all who think that our country was founded as a Democracy. It wasn't, our country was founded as a Republic. It states this in the Constitution. Constitution: Article 4; Section 4; is named Republican Government(The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion; and on Application of the Legislature, or of the Executive (when the Legislature cannot be convened) against domestic Violence.
fluffycornholio666 2 years ago
Many people would like that system to come back, me the first. But here is the BIGGEST problem. All western countries have become Nanny States, and without the possibility of taxation through inflation and debt, they wouldn't be able to give to their voters; Pentions, Welfare, Gov. Jobs, ... As long as you are in a democracy, those who promis to give out more than they appear to take will be voted in. If Ron Paul had been elected, there would be strikes and protests like you can't imagine.
geraldcaron 2 years ago
Great Vid.
TR841 2 years ago 3
But I got a crazy idea, it might even make paper money work. Why not base money's worth off of land or property? It would make more sense as that stuff is actually usefull. Just a thought...
HistorysMysterys 2 years ago
Yes, that is something people don't think about and when you talk about the "gold standard", people imply that economic growth is limited by the amount of gold you can pull out of the ground! I think you give land and property a value IN GOLD, then banks can hold property and make loans against that property. This way wealth can never be fabricated, but economic expansion can occur at reasonable, and market-controlled levels.
rayzer42 2 years ago
But practically speaking gold and silver really aren't worth anything more than paper. How is money suppose to represented by something that has no value? Well its obvious that gold and silver have much value in the eye's of many people but practically speaking its just as useless as a rock. Silver and gold are soft, delicate, easily broken metal. Its not usefull like steel and iron are, but if you asked me what I'd rather have... Paper or gold. What do you think I'd say? I want the gold...
HistorysMysterys 2 years ago
Monetization of the debt is totally regressive. This is why the poor are so poor. Because of the Fed. Think of it. Who is counterfeiting? The Fed who gives the money to the Banks. And they still leveraged it so much they defaulted. END THE FED.
WhiskeyJim59 2 years ago
Problem with a metal based currency is, that the metal market today is totally riged and in the hands of the "Makers & Shakers" who own and print the notes.
Thus, these crooks easily can corner the gold/silver supply for themselfs and could create a devastating deflation unless - as the video says - the _issueing_ is done by people that can be held accountable for their actions.
d0dge25 2 years ago
Why would they print notes? If congress actually followed the law wouldn't only the US Mint create money? All the "crooks" could do is sell the metals to government.
Even if people in the market decided to print notes backed by metals it would most likely be similar to what the liberty dollar was making. And they weren't manipulating anything.
Seiku 2 years ago
2:00 Good 2 part insight, but we europeans (i.e. these dictators in Brussels) did even worse with our money - which before were reserve notes like the Dollar but with a more restrictive issueing policy and metal/pension backing.
In case of the former DMark, it also was bound to the Dollar.
Look at a EUR note ! There is almost NO wording on it.
It doesn't even say anymore that it's a bank note.
We're paying with an "accounting unit" in paper form.
d0dge25 2 years ago
That you come up with the example of the euro implies you think the difficult part would be to get the old notes in and new ones out.
However, the would be to make the monetary systems of the world work like they did 50+ years ago.
The very flexible (and different) system we have today is an attempt to fix the problems of the old one, and is jointly responsible for the success of western societies.
Im not a fan, but what we need is an alternative, not a downgrade
argh523 2 years ago
well the success you speak of wasnt real then was it? The U.S. has basically been robbing the rest of the world with a phoney dollar. Nations are wealthy because of resources and production. Having an economy built around over paid service workers cant last forever. The pharmeceutical industry comes to mind. If things get ugly those companies creating pretty little baby blue pills for symptoms of normal day to day life will go down the crapper along with all their overpaid employees.
lilbromarky1 2 years ago
it wouldnt be a downgrade i dont think you were listening. there was no problem with the old system, except for the greed of some people who wanted more money. Real wealth grows slowly not like it does today. this shit has been happening since the dawn of fucking time, gold and silver are the only way to go and the founders knew that.
REVOLTbydesign86 2 years ago
Before long we won't even have physical dollars anymore, it'll all be digital.
FullOfFail 2 years ago
I agree with much of the video but I must point out at least two problems with it:
First, silver and gold coins CAN and HAVE been counterfieted and if it is paper money back by gold or silver that can be counterfieted just as easily as today's money.
Second, showing your paycheck and saying wouldn't you rather have money thisway instead of that way is well no so honest because your salary would be adjusted as well.
But I still love the video, thanks.
RosieDesire 2 years ago
Are you sure counterfieted is the right word to use? I think what he meant was that if you "counterfiet" it, it would still be made of Gold or Silver, hence still have a the same value and not matter if it is minted or not. The only exception is using cheap metals passing them off as Gold or Silver but there are measures people take to ensure its purity. So as long as people checked, they would not be able to be ripped off cuz they got the metal which is what makes the value of the piece.
TruthLoveFreedom 2 years ago
In the past, people used to use lead and coated it with gold to pass it as a gold coin. They did similar things with silver. Now you can cut it open and discover the issue but it's still counterfiet and will fool the majority of people more of the time (think lines are hassles now). Another thing that you can do is shave a coin, where you shave a tiny bit off. We would have to go by weight and not visual exchange. Also coin (especially gold) loose weight naturally with wear.
RosieDesire 2 years ago
it begs the question, would it not be better to get some value out of your counterfeited piece than nothing at all like we do now with counterfeited dollars? There have been measures taken to ensure Gold purety. Certain mints set up exchange centers where you could have gold minted and transfered. While you say that lines are a hassle and they may have been, with technology it could easily be monitored and ensured.
TruthLoveFreedom 2 years ago
Not sure if 'some' value would be better than none depending on the situation. Sure we'd rather have some gold instead of no gold but other forms of currency can be insured (not an idea situation) and reduce that risk.
I do disagree with the statment "technology ... could easily..."
This is not an easy task, technology or
not.
RosieDesire 2 years ago
For ex, if all gold was transfered by card, those responsible for ensuring purity and saftey of its transfer would be the banking institutions and no doubt other types would spring up. That would eliminate all the concern with dealing with gold but still allow us to have all the benefits. Ultimately, no matter what source money derives from, it is subject to the same issues. Gold is a much wiser way to ensure that if you store a coin for 40 years and use it, it will have the same value.
TruthLoveFreedom 2 years ago
Let say you are backing the dollar with gold. I only have slight issues with this. I like the idea of our dollar backed by gold or even uranium or something. My only issue with that is that is inflates the price of gold. We use gold, silver, etc. in many industrial applications it would raise the price of these materials and gold itself.
RosieDesire 2 years ago
I am not sure if that fundamentally makes sense, because "the price of gold" can't go up, Gold is currency. It will just allow you to buy goods and services at a cheaper price and we would be paying 5cents for a gallon of milk again. Not bad in my opinion.
TruthLoveFreedom 2 years ago
That is what I mean by the price of gold increasing. As gold becomes more rare, ie: industrial use, loss, or hording, then the value of gold increases. Prices for goods will drop across the board. It's not that the value of these goods are suddenly cheaper for everyone, it just means that people that have gold have increase the value of that gold. I doesn't make things cheaper, but it does control inflation by reduceing or eliminating artificial devaluation.
RosieDesire 2 years ago
As far as industrial uses for gold, I guess we would need to address those seperately because I am not aware of what they are or if there are any substitutes for gold in those industries. I mean, considering all the good that would be accomplished by a gold standard (or precious metals for the most part), are those industries significant enough to sacrifice the benefits a gold standard will produce?
TruthLoveFreedom 2 years ago
Yes, it is a different discussion but they relate to each other. Many of these product could use other materials, our cable connectors could easily use another material. But other stuff makes it more difficult espeically when you get into high precision instruments, computer components, nano manufacturing with self assembly components. The cost of those technologies would sky rocket.
RosieDesire 2 years ago
right on brother right on, common sense will prevail.
REVOLTbydesign86 2 years ago
Learning about the gold standard made me start wondering who the big names are behind all these commercials that seemed to blow up on t.v. the last few years trying to buy peoples unwanted gold? Do these people know the American dollar is more than likely screwed or just very good investors trying to stay ahead of the curb?'
SK3Nives 2 years ago
i enjoyed that very much, I would really like to see the standard returned to gold and silver and for fiats to be thrown away or recycled! =)
SK3Nives 2 years ago
Facts and truth have one flaw. It is that humans are the irrational.
salchih 2 years ago
It's going to come down to the current american population is not going to want to have a pocket full of heavy change, in the form of gold coins. It would be way too inconvenient.
rufusred44 2 years ago
Super!!! Great production value!
And Fuck the feds!
sonyse2t5 2 years ago
unfortunately JohnfromChicago, gold production is primarily in the hands of the Russians so this is a bunch of hooey? :) but I did like the imagery:)
granskare 2 years ago
the only thing my friends is that it ain't gonna be wrote united states of America on the dollar but like Europe did it's gonna be the north American union on the dollars and since 1999 the people who where the surety on the loan's can by back their freedom!
jamesandreshawdows 2 years ago
Sounds good but if we start doing that tomorrow there will be no liquidity. The economy will halt immediately. This will be like rising interest rate 20% overnight. In the short term everything will die. Though in the long term value will be restore. No gov will the will to do that. The people will revolt. Just like people are angry about Obama for tax and trade bill.
robertlam18 2 years ago
Very good !!
KEVINBERIAULT 2 years ago
Digital money is just a number on a file in a bank account, banks in cahoots can in effect invent money that does not exist similar to the bank note of long ago. With a license to print money each bank in the cahoot can fractionally lend the nation into a new economic meltdown for a digital age.
TTTopGun 2 years ago
Our focus is the futures where people may want capital to travel faster safer and more efficiently. How will you shop in zero gravity? Having just one currency may not be a good choice. Remember "Independence day"?
Peace,
E-T
etellurian 2 years ago
3:02
That's "CHANGE" We Can Believe In!
L.O.L.!!!
KidBrotherIsWatching 2 years ago
2:22
Digital coins? Can be done can be seen can create jobs ... we-com "in God we trust".
Peace,
E-T
etellurian 2 years ago
also, what's wrong with inflation if wages increase
stou2301 2 years ago
1. It's unconstitutional therefore illegal. My first priority is to adhere to the law. 2. It's a big if. Statistically, wages have not even come close to the rate of inflation. Most people are going backwards. 3. You didn't even consider savings. Inflation destroys savings. As many have learned, putting your money on Wall Street or in equity in your house is NOT SAVINGS.
Thanks for advocating for the status quo. The rich and powerful need your help!
JohnFromChicago 2 years ago 3
horrible assertion at the end, you're assuming you will still get paid the same amount each week, if reverted back to coin currency
stou2301 2 years ago
No, I'm assuming we'll get paid the same in spending power. If you make $500/week now, that would be a half ounce of gold, or one Eagle per week. If you're asserting that I think we'll make 500a week when $20 is a gold ounce, or that price drop will correlate to modern fiat dollar amounts, you're wrong. I didn't say that. You're either not paying attention or attempting to spin my video.
JohnFromChicago 2 years ago
gold and silver was costing to much to make.
cman1112 2 years ago
I completely agree with the video on the ultimate goal of stabilizing the currency system. However, even with a new gold standard, we would still be sending "gold money" to China for our goods because the rich have moved our productive capacity over there.
A gold standard would protect the value of the dollar. However, it would not save us from the corrosive consequenses to standard of living when dealing with globalization, free trade, illegal immigration, corporate fraud.
Dean0000007 2 years ago
Excellent videos. Thanks for posting, now if the rest of America could see this type of information their might be hope.
enduro0276 2 years ago 5
The problem is that our US government is a bankrupt corporation (UNITED STATES, inc.), owned by the international banking cartel. The only solution to the problem is to abolish the entire banking system, which is a fraud to being with, and simply choosing not to participate in the game of commerce. It sounds impossible, but we can do this. First we must reclaim our identity and get out of the game, and second we must join together to form our own societies. Life should not be a game of Monopoly.
lucifursam 2 years ago 3
Good comment. Get rid of the Fed, amend the constitution to specifically outlaw anything like it, and implement 100% full reserve banking. Make banks obey contracts like any other business, and any that cannot pay on demand to ALL on-demand depositors are immediately liquidated, and their leaders are sent to prison for fraud.
peckman28 2 years ago
Your presentation is awesome, I appreciate and will share with others
One request the pondering of a scenario
Where is the Gold & Silver to back up our cash?
We have to consider with logical consideration the Precious Metals have been robbed by now after so much time since 1913/1933 and are likely not within the continental 48 & Hawaii or Alaska
We are dealing with a cabal that will not relinquish control of what they stole from US
Reclamation will not be easy
TY
Love, peace and respect
thefranmann 2 years ago 5
When questioned, Ben Bernacke claims there is "a lot of gold" on the Fed's balance sheet, whatever that means. Considering the financing of wars and social programs, it's vitally important we continue to relentlessly push for the restoration of sound Constitutional lawful money. With the domestic money supply at about 1 trillion, we'd need about a billion ounces of gold and silver. That's a lot of metal. Can we do it? Yes we can!
JohnFromChicago 2 years ago
I believe we can do...First thing is we must educate ourselves and plant seeds in others to do the same, then we must by consensus begin the process of Non-Compliance to the present and future systems, they only have the power that we give to them thru consensus
Asa part of extensive research and to my knowledge Mr. Bernacke is a confirmed perjurer and elitist frontman, unfortunately the Precious Metals are not located here anymore...
I as you still believe we can
TY for sharing back
thefranmann 2 years ago 2
There is a lot of gold on the "Fed's balance sheet".
That's because the Fed "leased out" a lot of gold, but the "leased out" gold somehow still counts on the "assets" side of the balance sheet. Accounting fraud in broad daylight.
But if we were to go back to being a producing & exporting nation again, we could accumulate all the gold we want... just like we we did the first time!
Ron Paul's been trying to find out - for a long time now - how much gold the Fed really holds.
Support HR 1207!!
MengersDisciple 2 years ago
Oh I'm pretty sure the money supply is far higher than that. I don't think a billion ounces of precious metal is really feasible. In fact, if we were to implement a gold standard right now we would need to set it at $9,000+ an oz. I think the best way to go about this is to end legal tender laws, phase out the Fed, and make taxes payable in Fed notes, gold, or silver during the transition. After the transition, taxes only in gold, silver, private transactions in whatever the parties choose.
peckman28 2 years ago
Hmmm interesting great vi by the way
hygocan 2 years ago
Top vid John. Ode to Russo. Pink Floyd. The truth.
halfasheep 2 years ago
Sight ,...it took Black Thursday to make the Federal Reserve ,. in hte early 1900th ,... and today we are living the same shit ,..a big economic crash to bring up the AMERO ... thats it ,...GOld/Silver is the only Key
ragnarush 2 years ago
I agree completely. But, how do you escape the fact that you would have to bring a fork lift with you to carry your coins for grocery shopping?
tupahc 2 years ago
I just went to the store today. I spent $118 Federal Reserve Notes. In gold, the bill would have been about 1/10th ounce, or a Tenth Eagle coin (smaller than a dime). In silver it would have been about 8 dollars. Also, there's no reason to think we wouldn't still have paper money - but it would be Certificates or Notes rather than FRNs. There's also no reason you couldn't use a debit card. My account would get hit for $8 instead of $118.
JohnFromChicago 2 years ago
I think you put that in very good terms. The whole point of a commodity standard is to preserve purchasing power, eroded by over 97% since 1913. Thanks for doing these videos and helping to get the word out!
peckman28 2 years ago
How can we offer this video more purpose?
Is it enough to know or do we need some suggestions to do something about this2:22 ?
Any more thoughts? Could a we-com crew help too?
Peace,
E-T
etellurian 2 years ago
no.. the prices would be low again.. bread a nickle.. mike a dime.. and so on.. 20$ would buy a weeks worth of food!
cds052 2 years ago
Amen!
BearGirl26 2 years ago
David Gilmore for president
skudlick 2 years ago
Great video thank you...
conciousgood 2 years ago
Nice job. I often wonder if political action on the national level is the most viable place to look for a solution. I see a number of community currencies and private action taking place. To me the solution lies in the heart of power.The question is only a matter of discovering who has the power - is it Congress or is it the people? Knowledge gives you the key - action turns the lock and opens the door. That my friends, is the quickening pulse of power.
BeanGene 3 years ago
Yes, I agree. Political action on a national level is going to be required. And not just a big demonstration, but something with real teeth like a national strike, or a national withdrawal day. But the first step is educating the public. This video, and the many others that inspired it need to be widely seen, So please share this movie!
JohnFromChicago 3 years ago
And we could have had all of this if the people in this country had listened to Ron Paul & learned to think for themselves instead of listening to the fucking sell outs in the mainstream media. We would be well on our way Right now !! But everyone bought into the hype of the Obama bullshit & now We'll have to wait 4 years to get another shot if we get it at all. VENTURA 2012 !!!!
wingnut4427 3 years ago
I personally don't understand what Obama has to do with this, besides him being the next president. I don't think he was born yet when FDR passed that law. Personally I agree with what you say about the Fed and how they are not constitutional however I personally would rather have paper money (backed by gold) than carry around coins. Also, considering our debt, I fear that if we start messing around with are currency then foreign nations might just call in our debt - which we can't pay.
Cherrypi393 3 years ago
Darn. I was going to post this to Facebook and elsewhere until Obama popped up in it. That's too bad. Excellent video otherwise. Maybe I'll just post part 1.
stebbinsm 3 years ago
@JohnFromChicago and purplefetus3:
Assuming a return to gold, hasn't most of the gold been stolen thru confiscation by the same people who rammed the paper money ponzi schemes down the world's throat, and, therefore, wouldn't we all be in pretty much the same situation we are in now, ie, penniless and lorded over by undeserving in-bred money-changers?
aybesea 3 years ago
Paper money is backed by comparitive advantage.
Inflation is not bad either- it helps economic growth. It only becomes bad when it reaches hyperinflation levels or is deflationary.
And carrying around tons of coins all day- that's ridiculous to think that people would want that over paper money or use their visas.
As for the standard of living from below, dual income families resulted from people wanting a higher standard of living, a.k.a. more stuff, not as a result of printing money.
robms18 3 years ago
Comparative advantage (you spelled it wrong) is a commodities trade equalizer and has nothing to do with money. Inflation compounds like interest and is one of the exponential curves that has begun to kill us.
The change we carry now would have vastly more spending power, only making it more usable. And who said anything about getting rid of plastic? What difference does it make if you're charged $1 or $20?
Do you really think dual incomes is a luxury? You're not just wrong, you're lying.
JohnFromChicago 3 years ago
Like commodities, currencies are traded for goods via foriegn exchange, along with traders in open markets. Through this system, the value of a dollar is determined by comparative advantage. This method of dollar valuation takes all common knowledge about many economic factors to determine the forward and spot rates of a dollar. Money is always valued relative to another in this system. It's not like mercantilism, where whoever has the most gold is richest. In this way, production backs money.
robms18 3 years ago
Your wrong. Wealth is created by work done. This is why it's worth to have some inflation for low unemployment. Inflation causes more people to invest money instead of having it sit somewhere. Also when coke's were 5 cents, wages were very low. Wages have grown at just about the same rate as inflation. Houses were $5,000 but it's going to take a while to buy one when you're earning 25 cents an hour. I can argue that gold and silver are similar to baseball cards or old stamps.
nakedshorter 3 years ago
No ... I don't believe I am wrong. Wages have not kept up with inflation. If they have then why do we need to incomes in every household plus credit to maintain our standard of living, whereas before we only needed one? Why has the average car note gone from 2 years to 5? And if you think gold is the same as a baseball card, try spending a baseball card. You can spend gold or silver anywhere.
JohnFromChicago 3 years ago
From my own laymans understanding, fiat money isn't inherently bad, eg, check out Tally Sticks which functioned extremely well for 700 years. As long as there is a built-in demand for your money, there will be a demand for it. And as long as the money is not produced by a self-interested 3rd party, and as long as money is rightly used to facilitate the exchange of real goods, not as an end in itself, the total amount in circulation, and hence inflation, is easily controlled, eg, Social Credit
aybesea 3 years ago
Fiat money inherently destroys freedom and human rights because it enables huge government. It is inherently evil because it requires government enforce it's value. Paper backed by paper is ultimately backed by government force. If you take gold anywhere in the world, any time in the history of civilization, the Mayans, Rome, Sumeria, Rome, Greece, Egypt ... you have money. Precious metals are naturally considered money by human nature. An FRN requires enforcement.
JohnFromChicago 3 years ago
you say "as long as money is not produced by a self interested 3rd party..."
lol, how do you accomplish that? Give the responsibility or anyone with the greatest integrety and they'll turn to the dark side!
Using precious metals gives the power to no one. Therefore it cannot be corrupted by anyone. Tally sticks may be good for a nation but not so much world-wide. Gold and precious metals are good anywhere!
"Only gold is money, NOTHING ELSE!"
-JPMorgan (creator of Federal Reserve)
purplefetus3 3 years ago
well done.
CommSense 3 years ago
I like the videos John. But you seem to imply that prices would "fall" relative to wages which would remain at todays levels. The "$5,000 house" vs. "If you make $450 a week" .... this of course would not be the case as, using oversimplified math, you would make $35 a week to buy that $5,000 house. "It's all relative" to what the definition of a dollar is. Makes no difference if a Coke is .05 or $1.
Big problem with people new to hard money thinking is they assume it will create a utopia.
LibertyOrBust 3 years ago
Yes, you are correct. I made a short video to explain the basics to an attention deprived populace. I did simplify, perhaps oversimplify some things. I guess where we differ is that the $5000 house wouldn't go up or down in value much, the 5¢ coke will always be 5¢. You won't need a VISA card to stop at the gas station when the change in your pocket will suffice. Yes it's all relative, but only to a degree. When we had hard money here, no Utopia bloomed. But our liberty was more secure.
JohnFromChicago 3 years ago
Nice very nice, how do we do it?
catchers51 3 years ago
This is great!
spread this video
pedtorox 3 years ago
I finally understand economics WAY better! thank