Would love to believe this entirely, but I suspect the real nature of the reasons is far more complicated. US started to move away from gold long before 1971, and what precipitated the final 1971 full fiat switch was France wanting to cash in huge amounts of greenbacks for the gold equivalent.
How could all of the world's nations afforded WWII with a strict gold standard? (I realize some may argue WWII wouldn't have come about without WWI, so the argument of the video comes into play)
The US is in deep trouble and most citizens of corporate america don't have a clue. We are at this time, bankrupt. Politicians won't jail the fraudulen thieves. Why? They don't want to go to jail! Gold is out of reach for the broken "middle class". We can still get 1 oz silver coins. Buy as much as you can. Local coin dealers are in most towns. Save yourselves from the total collapse of all economies and prepare while there is still a short window of time left.
@AmazinglyAgnostic If they come into this country ILLEGALLY They need to leave. If they come in LEGALLY, like my French Ansestors did, then thats great! But what you are fighting for here is waht is ruining the country, Milliions of illegals crossing the boarder then expecting to be treated with all the good things that come with being a US citizen. Your mind is warped sir.
@WWIIairsoftColorado You have succumbed to government propaganda. This country was entirely built by immigrants during its greatest expansion of prosperity and fastest growth of the large middle class. Far from draining the economy, poor people in search of Liberty enriched this country. It is the government that you trust that has drained the country of private resources. Scarcity is due to manipulation of the monetary system to favor a thin ruling elite and their banker-financiers.
2. My family imigrated here during the french revolution.
3. Immigrants do enrich this country, but if they do it illegally, then live off welfare, it hurts us.
You and I are on the same page myfriend, Im totally with you about draining the private sector and everything in those last 2 sentences. Also, Immigration is a problem, and we need to fix it but we are doing it the wrong way.
@AmazinglyAgnostic You told me that would "love to sit there and watch a lousy person like you lose his job to a Mexican, and laugh my ass off!!" So you would laugh at me if i lost my job to a Illegal Alien? Thats what I asked Dumbass, I think you are mentally deranged, Go get rabies shots.
@AmazinglyAgnostic You laugh at other peoples misfortune? What a terrible person you are! Man, Im glad im not your sorry ass living in your moms basement at 35 years old. I feel bad for you myfriend.
@AmazinglyAgnostic A handful of Mexicans? Millions jump the border not a handful now is it? You are a pathetic piece of uneducated filth that cant do your own research and rely on the Media to feed you spoonfuls of Ignorance. Im ending this arguement right now because trying to debate something like this with someone as stupid as you is impossible.
Dems were in public Office when WWI started and WWII, they got us into Korea, and Vietnam. So your arguement is flawed.
Cant you see him for a Person not a party? He isnt ACTUALLY a (R) he is a (L) for Libertarian (I dont know how to spell that) He DOESNT want to be in the middle east or Germany or France or England, he wants to be HERE defending OUR borders. Isnt that what you want?
1 He hasnt done anything but Throw money at Corrupt business owners
2 Sent more troops over seas and is planning the invasion of Iran (Which by the way will cost us billions and thousands of American Lives.
So yes, Pathetic with terrible Forign Policy. You have NO IDEA how different Ron Paul is from Bush, They are completely different in EVERY way. I think you need more research son.
Ron Paul is the answer to changing the destuctive destination that we are on. Bring back the gold standard..
Ron Paul is knowledged, and has never flip flopped in 30 years, ignored by the greed that controls... He is for the people... What has age got to do with it???? He's healthy and sharp minded..
@AmazinglyAgnostic O-BOMB-a had FOUR years total. He had TWO years with both the white house and congress in power--laboratory conditions, basically.
And yes, you are delusional. You claimed that Paul out of "loving oil" would have attacked Iraq. His voting record is counter-proof as is his statement on Bill Maher's show that we shouldn't go to war for oil. Even in the face of contradictory evidence, you won't admit that you're wrong. That's delusional.
@AmazinglyAgnostic He vocally denounced it every chance he got and his voting record shows consistent opposition to it. Also on Bill Maher, he SPECIFICALLY denounces the idea of going to war for oil -- watch?v=8z99KLcYjYc
But it doesn't sound like you want little things like FACTS to get in the way of your delusions, huh?
Finally, Obama isn't ending the Iraq war--the Iraqi gov't is just telling us to GTFO per the original status of forces agreement signed by Bush admin.
@AmazinglyAgnostic He had two years with his party dominating congress and got to basically try his agenda under laboratory conditions. He's had his chance. He's failed. It's time for us to choose someone else.
@AmazinglyAgnostic do i think obama WOULD want something for the both of us? well obama WOULD help me out if he wanted to. he WOULD if he cared to. WOULDA, COULDA, SHOULDA.
@AmazinglyAgnostic I'm not sure, but let's change it. I recommend voting, however so. I am voting for Ron Paul. He is the only man who I believe will strive to fix this country.
@AmazinglyAgnostic PS: we would probably still go to war actually. we would just occupy less countries and stop aiding over 150 countries around the world. the government would reallocate its money to fund wars. governments like wars. wars provide the government with control, the plunders, and therefore the power.
think about it. think about all the wars that occurred before the Fed took control. The Fed shouldn't exist. I totally agree. But the bit about there not being wars isn't true really. there would most likely be less war, but there would still be war.
the part about it buys the same amount of goods today as it used to a thousand years ago is not true because it fails to take into account the faster rate of population change compared to the rate of above-ground gold in existence. In actuality, you can get MORE today than you could in the past, assuming a perfectly linear growth rates.
@grayfoxv Here's another idea - let's work to bring the concepts of personal liberty, private property rights, and an humble foreign policy back to the forefront of American civil discourse and see where that leads. This one could actually be done!
Since there is only a limited amount of gold doesn't returning to the gold standard create a zero sum game where people who hold the gold hold all the power?
@eequations I can see where the confusion comes in, but this is not accurate. First: All resources are finite. Some are renewable, but only over time. At any given time, there are only so many resources in an economic system. Money is simply a commodity of significant enough rarity, which is easy to transport, and easy to identify that anyone in the economic system will trade for it (knowing that others will also trade for it). That is the *reason* gold became money in the first place.
war is something not wanted from the people but from the leaders of those people. everybody should have their amount of money, even wothout working, at least to survive. no taxes no interests, nothing. yes, is that easy...but not many people gets it..
If we did go back to a gold based currency what would we do to stop nations leaving it in order to start a war?
I have often thought a limited currency would lead to a more peaceful place but we have had gold based currencies and the history books are full of war.
We today can buy physical metals & end the massive exposed frauds of manipulations in the markets. To keep most people blind, the govt. HAS to keep gold/silver prices down. Gold/silver are blaring an alarm that the dollar buys less & less. Prices AREN'T GOING UP. The dollar is being inflated. States are returning to the only money authorized by the U.S. constitution, gold & silver. Buy some physical metals it may keep you from starving. Find people who accept it. Opt out.
This is definitely an over simplification. Saying that leaving the gold standard is what lead to war, consumerism, social inequality, poverty, and debt. The issue is extremely more complex.
If you want to look at things in such a simple way and point all of todays problems towards one thing you should just blame the advancement of the human race from a paleolithic society to neolithic.
@Rockyeeful I think what you will find around the world is that gold has a baseline value in 90% of the countries you will find, insofar as its purchasing power. Yes there will be some degree of variation but I would suspect its buying power is closely linked to the local economy. If you live in an area where a barter system is in place, yea, it wont buy as much. Conversely, In other areas with developed currency based trade systems, it will buy far more.
@Kylenashari Well I'm no economic, but when I think about it logically. Gold is just some kind of thing that can be found on the planet. It's us, the people who give it value. You can't eat gold, you can't wear it. But we give it a certain value. Kinda the same we do with paper money. The only difference is, Gold is harder to get, where paper money can just be printed. But what does this mean? If one country has enough gold they take over the world? That's just nonsense if you ask me.
@Rockyeeful The can't wear gold? What do you think jewelry is? However this is the very point, you cannot use gold up you can modify it you can turn it into coins or jewelry or put it on monuments, but it always stays gold it can always be melted back down to make an ingot. Oil gets burned, food gets eaten, that's why gold is money, because it can't disappear.
A gold standard does not mean there will be no paper money, it means the paper money will be backed by an amount of gold, not air.
@Iain1962 Like you said. You can't eat gold. Gold doesn't keep you warm (that's what I meant when I said you can't wear it, ofcourse you can put all kinds of stuff on your body and ''wear'' that). I rather like the idea that each country's makes their own money and that the money is really good secured and in good hands and NOT in corrupt hands and that's the problem atm, the money printed is being used for corruption and war and lies!
@Rockyeeful Well precisely, and that's why having a Gold standard acts as break on out of control government, it stops them from just being able to "print" it.
@Iain1962 If we would simply do something else. That is thinking, we could simply just print out the amount needed. No need for a gold-standard. Why not a bronze standard? Or a shoe standard? Or water standard? It's just something we made up. Gold is not that important for humans, it's just pretty. And corruption is still possible. Let's say now we print 100 dollar for 1 pound gold, next day I can say 200 dollar for 1 pound gold. Easy?
@Rockyeeful Yes but then if you do that, and everybody's certificates are no only worth half the amount of gold, then you would have an instant reaction from people and markets. By allowing the Fed to inflate in secret, it is impossible to really know the value of a dollar, it is only the minds of the people using them, when the confidence suddenly goes which it does sooner or later, then FIAT money is just that, paper.
@Rockyeeful An example. Let's say you are a diver and you find two Spanish Galleons sunk in the Carribean, one has a cargo of Gold coins and the other has a cargo of Spanish paper notes from 1650.
Which ship's cargo are you more interested in salvaging?
@Iain1962 I'm studying Business IT & Management, I know money is important and I totally understand how the world works and understand you. But if humans would evolve further, these things would be meaningless.
And just because I'm honestly saying that I'm sadden that gold is worth this much doesn't mean I don't understand business. So your friendly advice wasn't really advice, but you did say it rather friendly! :)
@Rockyeeful OK well think about this, money is the crux of any transaction you make if you engage in a 2 year project, you want to know when you get paid that the money will have the same purchasing power as today.
Would you accept to play poker when one player can reload with as many chips as they want, but not add any value into the cash out, essentially rebuying for free, people would riot, but that's what Central Banks do, just keep adding chips...
You don't understand. Gold ISN'T GOING UP. Dollars are being devalued by the printing of billions more every day. Gold buys the same today as 150 years ago. Gold isn't going up. Fiat (paper money backed by nothing of value but government promises) is being inflated.
This video is full of half truths - don't be sucked into the line that "Gold is Independent." Gold is controlled by the same powers that control the global money supply, and making gold the basis of all money is NOT a viable solution. Money creation is the sovereign right of every nation, but, like all inventions, money can be used for good or evil, especially with corrupt politicians in charge. But at least they can be voted out - the banksters are above the vote, and above the law.
@EzekielKrunch True, they own a lot of it, but unlike fiat money, there's no way for them to print it and force people to pay an invisible tax to them through inflation like they're doing right now. I'd much rather hold a bit of gold and know that no one can stealthy steal it from then hold a lot of fiat money that constantly depreciates because the central banks are printing new money all the time..
@hazeee123 First of all, money is an invention and its supply must be able to expand or contract to meet the needs of an economy; no precious metal can do this. Secondly, money can NOT be a commodity because then a nation's net worth is tied to the value of a commodity that can be controlled or manipulated. Third, money that is a commodity is subject to hording whenever innefficiencies arise; this will kill any massive economy that relies on the commodity. Lastly, read Bill Still's new book.
@EzekielKrunch First of all how can you pretend your statements are true when history teaches us that they are wrong? Second I read mises.org and have seen enough present and past evidence that leads me to believe that the Austrian school of economics is the only school of which lessons I should trust to be true.
@hazeee123 History does NOT teach that gold currency works! Where do you get this from? And secondly, while Misesand Ron Paul are great (and correct) at pointing out the evil of the Fed and the Banksters behind it, are you aware that Mises himself was sponsored by the Rockefellers? Austrians are 75% correct, but they are goldbugs and WANT us to go to a currency backed by the commodity that they control. And, there is NOT ENOUGH gold on the planet to support 7 billion people.
@EzekielKrunch Austrians do not want anything to be as they think is good or right, they want a free market and they want this market to decide. It just so happens to be that whenever in past 6000 years of human history the market had a choice it decided gold and silver were best. And that's a big difference between what you said and what the fact of the matter is. Second there is more than enough gold to support an infinite amount of people unless you have evidence on the contrary?
@hazeee123 The essence of many of the Founders of the Austrian School is anarchism. Look it up - I didn't believe it either, until I did some research (including editing the new Bill Still book, No More National Debt). I frequent the Mises site daily but you need to understand that Rothbard is an anarchist. And gold is too rare to ever serve a nation or the world as money.
I don't want to argue with you - we are on the same team and have been divided by those that want us to argue.
@SpykerSpeed I have researched it. Germany had to give up all their gold as part of their war reparations and then had to pay more. That is what caused their hyperinflation. To state that they went into hyperinflation SOLELY because they went off the gold standard as this video implies is rewriting history to fit an agenda.
@centralthought After Spain started mining gold in Argentina, Gold's value dropped like a stone. The same happened after Britain started mining gold in West Africa. Gold has experienced massive devaluations over time.
@Y2kplaya92 When Andrew Jackson dismantled the 2nd National Bank (Central Bank of USA and predecessor to the Federal Reserve) there was actually in INCREASE in purchasing power for one's gold. A slow slight deflation for 70 years!
@Y2kplaya92 Only localized devaluations, which really doesn't matter on an international scale - you don't want your currency to be too powerful, anyway, otherwise exporting becomes difficult.
@Y2kplaya92 True, govts and kings have devalued gold with impurities over the ages. However, then and even now, pure gold STILL holds its purchasing power.
@rampage241 not trying to get into an internet argument, but these countries were already at war, and just because they run out of money during the wars doesnt mean the wars would stop. Any nation that chooses a path that would allow them less financial clout would obviously lose the battle, and so, they dont want that to happen. Also, the video says that gold has a constant purchasing power throughout the ages, which simply isnt true. Inflation exists for every currency, even gold.
I don't agree with the video. Because the banksters on top have loads of gold to. Either way they win. So switching back to gold will leave the same people in power as today. If you want a revolution, join the Zeitgeist movement.
Sticking to the gold standard would not have stopped any wars from happening at all. He simply asserts that it is true without justifying it at all and assumes the viewers will just believe that if a country is unable to fund a war any further, then it will just stop fighting (almost definitely wouldn't happen)
"The ability to issue money is too much power for governments, banks, anybody... The best way to stop the abuse of power is to spread it as thinly and widely as possible"
Printing paper against nothing is nothing. Rare metals are more readily accepted Globally. Value is the key! Ask yourself a few questions first if you are going to buy. What is the monetary standard for Gold? How is the price being set at any given point in time for Gold? What is the basic unit of measure for Gold? How was this basic unit of measure formulated? War in itself wasn't the reason to take nations off the "Gold Standard", but rather those who created the prelude to war.
I don't want a "money" that can be hacked. It is bad enough govt. & priviate banking cartels (the federal reserve) can print all the money they want & control interest rates. Bitcoin got hacked & a lot of people lost money on this fake "money". What happens when the power grid goes down? No electricty = no way to buy anything.
@dishesdealer417 What happens if all the water on the planet just evaporates? Quite frankly, I find the chances of the entire power grid going down non existent. The power grid is not going anywhere, nor is the internet. Oh, and bitcoin was not hacked, various bitcoin services like ewallets and exchanges were.
@triforcelink *1* Re: Power grid going down. June 21, 2011 NASA article: In Sept. 1859, on the eve of a below-average solar cycle, the sun unleashed one of the most powerful storms in centuries. The underlying flare was so unusual, researchers still aren't sure how to categorize it. The blast peppered Earth with the most energetic protons in half-a-millennium, induced electrical currents that set telegraph offices on fire, and sparked Northern Lights over Cuba and Hawaii.
@triforcelink *2* This week, officials have gathered at the National Press Club in Washington DC to ask themselves a simple question: What if it happens again?
"A similar storm today might knock us for a loop," says Lika Guhathakurta, a solar physicist at NASA headquarters. "Modern society depends on high-tech systems such as smart power grids, GPS, and satellite communications--all of which are vulnerable to solar storms."
@triforcelink *3* In 1859 the worst-case scenario was a day or two without telegraph messages and a lot of puzzled sky watchers on tropical islands.
In 2011 the situation would be more serious. An avalanche of blackouts carried across continents by long-distance power lines could last for weeks to months as engineers struggle to repair damaged transformers. Planes and ships couldn’t trust GPS units for navigation.
@triforcelink *4* Banking and financial networks might go offline, disrupting commerce in a way unique to the Information Age. According to a 2008 report from the National Academy of Sciences, a century-class solar storm could have the economic impact of 20 hurricane Katrinas.
@triforcelink *5* And from the Daily Telegraph: Senior space agency scientists believe the Earth will be hit with unprecedented levels of magnetic energy from solar flares after the Sun wakes “from a deep slumber” sometime around 2013, The Daily Telegraph can disclose.
In a new warning, Nasa said the super storm would hit like “a bolt of lightning” and could cause catastrophic consequences for the world’s health, emergency services and national security unless precautions are taken.
“This Act [the Federal Reserve Act, Dec. 23rd 1913] establishes the most gigantic trust on earth. When the President [Woodrow Wilson (D)] signs the Bill; the invisible government of the Monetary Power will be legalized. … The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created.” - Congressman Charles Lindbergh, Sr.
Listen up dumb-smucks. Gold is limited. It cannot be created by governments, unlike paper. It is also fungible & divisible unlike land & other real assets. It is for all these reasons that gold has been chosen as money by every civilization.
you may not eat or use gold but all civlizations value it as precious . all civilazations for 5000 yrs have loved it . so its money !! u like it or not
@amitshah55 People love it therefore it's money? That is incredibly stupid. People also love the land they live on and the food that sustains them. The native people of this continent may have loved gold as an adornment, but that doesn't mean it was important or any more valuable than a stone that you might make a statue out of or string that you might use to create a necklace. It's a shiny material that is fun but not a necessary part of life. It's value is purely symbolic.
@radicalKT@radicalKT ...People love land yes so it is also money but is not exchangeable easily say between russia and usa but gold can be transferred for payment. food is also money but can not be stored over a long period. Gold and silver and i dont know why have been adored by mankind since ages !!!! i see ur point. but gold and silver have been valued so heavily. Even in the egyptian civilisations.There must really be a more valid reason.Till we find it , gold is better than paper currency
@amitshah55 ".People love land yes so it is also money ". No, it's not money. You don't seem to understand what money is. You are a moron. Stop embarrassing yourself.
Silver has huge uses in solar cell technology & medicine. Silver has strong antibiotic properties which are finding more and more uses. Every piece of modern technology you have has a little silve rin it. The couch you are sitting on at the hospital has silver in it to stop it from being infected by any bacteria/viruses. that modern biking shirt you are wearing has silver in it to stop perspiration from smelling. There is less silver than gold in existance. Silver is better
Basically a number of valid points. But the underlying problem is that the most of the gold bullion is held precisely by those that most profit from a fiat system. The bottom line is always the same- you can't run a democratic nation without a middle class. The top 1/10 of one percent has an inordinate amount of material assets (including gold) and has legally bought Washington, D.C. This isn't radical talk, since Buffet, Gate's father and other wealthy, middle of the road folks all say the same
Gold only has value because we declare it to have value, just like we do with fiat money. It's just a rock. Food has real value. Shelter has real value. The value of gold is no less imaginary than that of money. The ONLY difference between gold representing value and fiat money representing value is that gold has, by nature, a limited supply. If we could just learn to control ourselves financially, we could limit our own money supply, regardless of what form is used to represent money.
ONLY ONE PROBLEM-now those who printed all that fiat currency used it to buy all the gold and they now hold 90% of the gold and will use it to maintain control and usher in their new one world mark of the beast monetary system... The prophecy will be fulfilled-it is only a matter of when, that is what we are fighting for.
@FirstAmendmentRadio And that's how they put paper money in the system, and keep the gold for themselves (and out of the system) to make sure it won't be as it should be.
@FirstAmendmentRadio Mark of the beast was the libellus issued by Nero - All bible prophecy was fulfilled by 70 AD with the destruction and judgment on Jerusalem. Already happened dude...
If gold/silver money is the solution, why didn't it protect the People from bankster engineered panics in 1881, 1907, 1921,1929? Don't we agree that the banksters manipulate the price of gold/silver now? Whoever controls the supply of money will control that society. Do the People or the elite control the supply of gold/silver? If the US Treasury borrows $1M in gold from the banksters, where does the money come from to pay the interest? The Rothschilds' destroyed the sovereignty of US on gold
@truthbomb1 Because besides a fiat money system we have also a horrific fractional reserve banking system where banks can lend many times more then they have in gold (or in these days money).
Paper money should represent visible real stuff and banks should not be allowed to loan out more than they have. Besides gold, silver should also be money, otherwise there is not enough gold for the current economy to function.
@gijs370 Why does that gold have value in the first place? It has no real usefulness as a material until we decide to give it value as money. If we only need a gold standard to limit the supply of money, why not just limit the supply of money and show some freaking financial discipline without having vaults full of shiny metals that just sit and take up space?
@radicalKT Actually gold has many uses due to its unique physical characteristics and aesthetic appearance: in electronics and technology (high conductivity, reflects radiation), jewelry, medicine (dentistry & surgery), as a coloring agent, etc. Don't say gold has no value aside from acting as money unless you know what you're talking about.
@ErikWithBrain The value that we assign to gold as a currency is imaginary and no different than assigning value to a piece of paper. Discussing Its physical properties and actual uses is different. Actually, giving gold the inflated value that we do raises the price that it might have in the market if we only used it for the applications you described. And if it is so useful, why would we want to take the majority of it out of circulation? Why not use tin, or copper, or coal to back currency?
@radicalKT Yeah, I read your other comments before posting, but I meant mine as a response specifically to your "it has no real usefulness as a material" comment. Aside from that though, you make a good point. And I think much of the emphasis on gold comes down to its appearance and simply..tradition. Kinda lame, but in the end, we really to get rid of this fiat bullshit, or give the system an overhaul. It's just too easy to manipulate. Central banks are raping us.
@radicalKT Gold has usefulness as jewelry or as conductive material. This gives it value. Paper-money does not have a intrinsic value and there is no limit on how much can be created.
You could of course impose a self created limit on the amount of money, however governments have repeatably shown they can't hold the responsibility.
Besides it does not have to be gold that our money represents, it could be multiple other things.
@gijs370 However gold is more practical because it is easily stored and easily divided in equal sized pieces.
If we would choose another fiat currency to replace the dollar and the euro, then we must prevent the government or a private bank ceasing the control of that currency.
Then I would like to see an independent bank that replaces its leaders every 4 years and is only allowed to replace existing money and increase/decrease it by the amount of population/economic-growth.
@ajmlkhsa "It sounds good. But remember, it is sponsered by a gold company."
Fiat money "sounds good," but remember it is sponsored by the international banking cartel that creates money out of thin air at near zero cost and then lends it out at interest through its gov't backed monopoly privilege. Now all the world is in debt. One might ask, "To whom?" It seems to me that the rational person would be more skeptical of the known fraud of the fiat scheme than of proven monetary meta
Yes, I have read Rothbard's "What has the Government Done to Your Money" It is excellent. I highly recommend it. It has been a while since I read it, but my recollection is that in his methodical way Rothbard outlines why the gold coin standard is superior to fiat money.
oh, and the interest rate system must be abolished as well. it is mathematically impossible to pay back interest, and the interest on the interest, with a fixed money supply (as it would be with gold, since gold mining is projected to run out sometime the next 30 years, thus money supply would then be stable)
so interest rates are fraud to begin with and can only lead to more money printing to pay the banks -> inflation, or implosion of the system. also, fractional reserve banking is fraud
@cooledcannon we dont need loans to begin with. it's just living beyond your means. be productive, and you'll earn all the money you'll ever need. apart from that, much more wealth would NOT be confiscated by the government through taxes and inflation if there was no debt to begin with, so the individual would already have more purchasing power available to him, thus eliminating much of the need for loans/debt (see the virtous cycle, instead of the vicious cycle we currently live in?)
If you need more information on how the so-called "Banking System" operates (how it drives prices up, creates booms and busts, transfers power from the productive class to the parasitic class, etc.) there is a short / free book available online. (Google "Meet The System")
Excellent and concise presentation, very impressive. Have taken an interest in and have been buying gold and silver recently. This is one of the best overviews I have seen.
im a Gold bug and believe in this video...however, just understand that Gold was over $800 ounce in 1980...and was +/- $300 from 1981 to 2000.....so bubbles do form..DYODD
Does anyone else fear that this whole buy gold thing is a scam? I believe in the gold standard, but I know people who are buying gold & having it sent to them. All the ads.... I don't know?
Gold is not a scam, trust me on that. A lot of companies are rushing to try and make some money off of gold but don't let that dishearten you, the fundamentals and principals behind gold are rock solid (pun intended). Just look at the central banks of all the wealthy countries hoarding gold like crazyy. Do you think they would be that stupid?
@CrazyEurazion Do I think they would be that stupid? Hell yes I do! How can you claim that our government did a stupid thing by printing more and more money and driving the value down then assume European governments would never do anything stupid? Does gold have a use other than as money? Can you eat or drink it? Use it to get around or communicate with people? Gold's value is just as imaginary as that of paper money. All we need to do is limit the supply of our currency, whatever it is.
@he11sbe11s So your only justification is that there is already a limited supply of gold, therefore we don't have to impose our own limits. That is just plain lazy and unimaginative. Many things in this world have a limited supply. Gold is not unique in that regard. There is no logical reason to choose gold over any other relatively useless natural resource with a limited supply (unless you already own a lot of gold, like the company that created this propaganda).
@radicalKT Gold is being heavily used in small electronics now days. All of thise new smart phones have a decent amount of gold. Gold conducts electricity very well even on a nano level. So yes, gold does have other uses.
Just repeal the legal tender laws and let anyone use whatever they want as a medium of exchange. Gold, silver, sea shells or cattle, just stop forcing people to take FRNs unless they want to.
A few have been tripped up on the reference to social inequality in this video. Those commenting have missed the gist of the presentation. At no time was it mentioned that social inequality did not exist under the gold but instead (paraphrasing) would not have happened to the same extent under the gold standard.
While I agree with the general concept of this video, I think there are a lot of assumptions and oversimplifications that are being made. I am all for the gold standard, and I think we need to do a better job of connecting the dots so more people can understand the true concepts behind currency.
@mkettner1869 No one wants a gold standard. I certainly don't the government to regulate such a monetary system. I do however want the free market to freely decide what should be money and I'm pretty sure it would pick gold and silver.
Ron Paul 2012!!! :P
Hydrogenagent 1 week ago
Would love to believe this entirely, but I suspect the real nature of the reasons is far more complicated. US started to move away from gold long before 1971, and what precipitated the final 1971 full fiat switch was France wanting to cash in huge amounts of greenbacks for the gold equivalent.
How could all of the world's nations afforded WWII with a strict gold standard? (I realize some may argue WWII wouldn't have come about without WWI, so the argument of the video comes into play)
BoiseTriathlete 1 week ago
RON PAUL 2012!
BananaBoatdododedodo 3 weeks ago
Someone needs to send this to Suzie Orman.See said Ron Paul is crazy with his gold standard idea and gold is stupid.
EDTHEWATERGUY 3 weeks ago
People are stupid and afraid of a change
ambh89 3 weeks ago
The US is in deep trouble and most citizens of corporate america don't have a clue. We are at this time, bankrupt. Politicians won't jail the fraudulen thieves. Why? They don't want to go to jail! Gold is out of reach for the broken "middle class". We can still get 1 oz silver coins. Buy as much as you can. Local coin dealers are in most towns. Save yourselves from the total collapse of all economies and prepare while there is still a short window of time left.
lrinax 1 month ago
It's a truth. Thanks for making such a brilliant explainer video.
TheSherylChung 1 month ago
@AmazinglyAgnostic If they come into this country ILLEGALLY They need to leave. If they come in LEGALLY, like my French Ansestors did, then thats great! But what you are fighting for here is waht is ruining the country, Milliions of illegals crossing the boarder then expecting to be treated with all the good things that come with being a US citizen. Your mind is warped sir.
WWIIairsoftColorado 3 months ago
@WWIIairsoftColorado You have succumbed to government propaganda. This country was entirely built by immigrants during its greatest expansion of prosperity and fastest growth of the large middle class. Far from draining the economy, poor people in search of Liberty enriched this country. It is the government that you trust that has drained the country of private resources. Scarcity is due to manipulation of the monetary system to favor a thin ruling elite and their banker-financiers.
leafwatch 3 weeks ago
@leafwatch Dude, I totally believe you
1. We cant trust the government.
2. My family imigrated here during the french revolution.
3. Immigrants do enrich this country, but if they do it illegally, then live off welfare, it hurts us.
You and I are on the same page myfriend, Im totally with you about draining the private sector and everything in those last 2 sentences. Also, Immigration is a problem, and we need to fix it but we are doing it the wrong way.
WWIIairsoftColorado 3 weeks ago
@AmazinglyAgnostic You told me that would "love to sit there and watch a lousy person like you lose his job to a Mexican, and laugh my ass off!!" So you would laugh at me if i lost my job to a Illegal Alien? Thats what I asked Dumbass, I think you are mentally deranged, Go get rabies shots.
WWIIairsoftColorado 3 months ago
@AmazinglyAgnostic You laugh at other peoples misfortune? What a terrible person you are! Man, Im glad im not your sorry ass living in your moms basement at 35 years old. I feel bad for you myfriend.
WWIIairsoftColorado 3 months ago
@AmazinglyAgnostic A handful of Mexicans? Millions jump the border not a handful now is it? You are a pathetic piece of uneducated filth that cant do your own research and rely on the Media to feed you spoonfuls of Ignorance. Im ending this arguement right now because trying to debate something like this with someone as stupid as you is impossible.
WWIIairsoftColorado 3 months ago
@AmazinglyAgnostic
Dems were in public Office when WWI started and WWII, they got us into Korea, and Vietnam. So your arguement is flawed.
Cant you see him for a Person not a party? He isnt ACTUALLY a (R) he is a (L) for Libertarian (I dont know how to spell that) He DOESNT want to be in the middle east or Germany or France or England, he wants to be HERE defending OUR borders. Isnt that what you want?
WWIIairsoftColorado 3 months ago
@AmazinglyAgnostic
1 He hasnt done anything but Throw money at Corrupt business owners
2 Sent more troops over seas and is planning the invasion of Iran (Which by the way will cost us billions and thousands of American Lives.
So yes, Pathetic with terrible Forign Policy. You have NO IDEA how different Ron Paul is from Bush, They are completely different in EVERY way. I think you need more research son.
WWIIairsoftColorado 3 months ago
@AmazinglyAgnostic HA HAHAHAHAHAHAHAHA your so ignorant! you fail at life my friend!
WWIIairsoftColorado 3 months ago
Ron Paul is the answer to changing the destuctive destination that we are on. Bring back the gold standard..
Ron Paul is knowledged, and has never flip flopped in 30 years, ignored by the greed that controls... He is for the people... What has age got to do with it???? He's healthy and sharp minded..
citamoonge 4 months ago 2
@AmazinglyAgnostic O-BOMB-a had FOUR years total. He had TWO years with both the white house and congress in power--laboratory conditions, basically.
And yes, you are delusional. You claimed that Paul out of "loving oil" would have attacked Iraq. His voting record is counter-proof as is his statement on Bill Maher's show that we shouldn't go to war for oil. Even in the face of contradictory evidence, you won't admit that you're wrong. That's delusional.
paleopaladin 4 months ago
@AmazinglyAgnostic He vocally denounced it every chance he got and his voting record shows consistent opposition to it. Also on Bill Maher, he SPECIFICALLY denounces the idea of going to war for oil -- watch?v=8z99KLcYjYc
But it doesn't sound like you want little things like FACTS to get in the way of your delusions, huh?
Finally, Obama isn't ending the Iraq war--the Iraqi gov't is just telling us to GTFO per the original status of forces agreement signed by Bush admin.
paleopaladin 4 months ago
@AmazinglyAgnostic He had two years with his party dominating congress and got to basically try his agenda under laboratory conditions. He's had his chance. He's failed. It's time for us to choose someone else.
paleopaladin 4 months ago
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@AmazinglyAgnostic now you're making things up lol.
KYLE239EA 4 months ago
@AmazinglyAgnostic he ended the war! yay! Ron paul never would have STARTED it.
KYLE239EA 4 months ago
@AmazinglyAgnostic do i think obama WOULD want something for the both of us? well obama WOULD help me out if he wanted to. he WOULD if he cared to. WOULDA, COULDA, SHOULDA.
KYLE239EA 4 months ago
@AmazinglyAgnostic ron paul stands for everything this video stands for. if you like the video, you'll like ron paul
KYLE239EA 4 months ago
@AmazinglyAgnostic he's had four years of chance and change. anything change in your life since he was elected?
KYLE239EA 4 months ago
@AmazinglyAgnostic I'm not sure, but let's change it. I recommend voting, however so. I am voting for Ron Paul. He is the only man who I believe will strive to fix this country.
KYLE239EA 4 months ago
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KYLE239EA 4 months ago
@AmazinglyAgnostic PS: we would probably still go to war actually. we would just occupy less countries and stop aiding over 150 countries around the world. the government would reallocate its money to fund wars. governments like wars. wars provide the government with control, the plunders, and therefore the power.
KYLE239EA 4 months ago
@AmazinglyAgnostic
think about it. think about all the wars that occurred before the Fed took control. The Fed shouldn't exist. I totally agree. But the bit about there not being wars isn't true really. there would most likely be less war, but there would still be war.
KYLE239EA 4 months ago
the part about it buys the same amount of goods today as it used to a thousand years ago is not true because it fails to take into account the faster rate of population change compared to the rate of above-ground gold in existence. In actuality, you can get MORE today than you could in the past, assuming a perfectly linear growth rates.
kdl0 4 months ago
Bitcoins, anyone? :)
vbontchev 4 months ago
even when gold was standard, wars raged
KYLE239EA 4 months ago
I agree with 99% of this, however the main point has not been touched upon. Why do we need money at all?
Eliminate Money. A resource based economic model is what we as a species need.
grayfoxv 4 months ago
@grayfoxv Here's another idea - let's work to bring the concepts of personal liberty, private property rights, and an humble foreign policy back to the forefront of American civil discourse and see where that leads. This one could actually be done!
alexandraschafer 4 months ago
Yea ,your right ,if we return to gold then people whom hold the gold hold the power ?Wow ,sounds like a good change to me, I love to mine gold !!
warneyoung 5 months ago
Since there is only a limited amount of gold doesn't returning to the gold standard create a zero sum game where people who hold the gold hold all the power?
eequations 5 months ago
@eequations I can see where the confusion comes in, but this is not accurate. First: All resources are finite. Some are renewable, but only over time. At any given time, there are only so many resources in an economic system. Money is simply a commodity of significant enough rarity, which is easy to transport, and easy to identify that anyone in the economic system will trade for it (knowing that others will also trade for it). That is the *reason* gold became money in the first place.
avintar 5 months ago
This video needs more views, likes and favorites
Rrppooq 5 months ago
gold just a metal, oil-energy & money :P XD
hmuz2010 5 months ago
You can buy physical metal using bitcoin at coinabul.com
Coinabul 5 months ago
war is something not wanted from the people but from the leaders of those people. everybody should have their amount of money, even wothout working, at least to survive. no taxes no interests, nothing. yes, is that easy...but not many people gets it..
nem3sics 5 months ago
lol wow i want gold coins!!! :D
britney1456789 5 months ago
If we did go back to a gold based currency what would we do to stop nations leaving it in order to start a war?
I have often thought a limited currency would lead to a more peaceful place but we have had gold based currencies and the history books are full of war.
earthstick 5 months ago
@earthstick
We today can buy physical metals & end the massive exposed frauds of manipulations in the markets. To keep most people blind, the govt. HAS to keep gold/silver prices down. Gold/silver are blaring an alarm that the dollar buys less & less. Prices AREN'T GOING UP. The dollar is being inflated. States are returning to the only money authorized by the U.S. constitution, gold & silver. Buy some physical metals it may keep you from starving. Find people who accept it. Opt out.
dishesdealer417 5 months ago
@earthstick How many wars did the U.S. fight before 1913? How many wars is it fighting RIGHT NOW?
dc202009 5 months ago
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I Concur :) QC
Quaaludedude714 5 months ago
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Quaaludedude714 5 months ago
I don't think gold is realistic in the 21st century - we need to go digital :D.
Madfoot713 5 months ago
@Madfoot713 Well digital could work perfectly as tokens which is restrained by the supply of gold or some other scarce resource.
DoctorCapitalist 5 months ago
@DoctorCapitalist A digital fiat currency would be disastrous for the economy.
DoctorCapitalist 5 months ago
Great!
rozlan7 6 months ago
This is definitely an over simplification. Saying that leaving the gold standard is what lead to war, consumerism, social inequality, poverty, and debt. The issue is extremely more complex.
If you want to look at things in such a simple way and point all of todays problems towards one thing you should just blame the advancement of the human race from a paleolithic society to neolithic.
Nazer101 7 months ago
This is ridiculous, if you really we have enough gold to support a world population of over seven billion people than you are quite naive.
CornflakesStudios 7 months ago
@CornflakesStudios "Enough gold"? What does that mean? The amount is largely irrelevant.
TheBullionBull 7 months ago
Wow. That last comment is probably hands down one of the dumbest remarks I've ever seen.
kkmiller1 7 months ago
One piece of gold in Holland isn't the same of worth in Afrika I think. Like there still is a currency difference.
Rockyeeful 7 months ago
@Rockyeeful I think what you will find around the world is that gold has a baseline value in 90% of the countries you will find, insofar as its purchasing power. Yes there will be some degree of variation but I would suspect its buying power is closely linked to the local economy. If you live in an area where a barter system is in place, yea, it wont buy as much. Conversely, In other areas with developed currency based trade systems, it will buy far more.
Kylenashari 7 months ago
@Kylenashari Well I'm no economic, but when I think about it logically. Gold is just some kind of thing that can be found on the planet. It's us, the people who give it value. You can't eat gold, you can't wear it. But we give it a certain value. Kinda the same we do with paper money. The only difference is, Gold is harder to get, where paper money can just be printed. But what does this mean? If one country has enough gold they take over the world? That's just nonsense if you ask me.
Rockyeeful 7 months ago
@Rockyeeful The can't wear gold? What do you think jewelry is? However this is the very point, you cannot use gold up you can modify it you can turn it into coins or jewelry or put it on monuments, but it always stays gold it can always be melted back down to make an ingot. Oil gets burned, food gets eaten, that's why gold is money, because it can't disappear.
A gold standard does not mean there will be no paper money, it means the paper money will be backed by an amount of gold, not air.
Iain1962 6 months ago
@Iain1962 Like you said. You can't eat gold. Gold doesn't keep you warm (that's what I meant when I said you can't wear it, ofcourse you can put all kinds of stuff on your body and ''wear'' that). I rather like the idea that each country's makes their own money and that the money is really good secured and in good hands and NOT in corrupt hands and that's the problem atm, the money printed is being used for corruption and war and lies!
Rockyeeful 6 months ago
@Rockyeeful Well precisely, and that's why having a Gold standard acts as break on out of control government, it stops them from just being able to "print" it.
Iain1962 6 months ago
@Iain1962 If we would simply do something else. That is thinking, we could simply just print out the amount needed. No need for a gold-standard. Why not a bronze standard? Or a shoe standard? Or water standard? It's just something we made up. Gold is not that important for humans, it's just pretty. And corruption is still possible. Let's say now we print 100 dollar for 1 pound gold, next day I can say 200 dollar for 1 pound gold. Easy?
Rockyeeful 6 months ago
@Rockyeeful Yes but then if you do that, and everybody's certificates are no only worth half the amount of gold, then you would have an instant reaction from people and markets. By allowing the Fed to inflate in secret, it is impossible to really know the value of a dollar, it is only the minds of the people using them, when the confidence suddenly goes which it does sooner or later, then FIAT money is just that, paper.
Check out the Wiemar republic or Tulip Mania.
Iain1962 6 months ago
@Rockyeeful An example. Let's say you are a diver and you find two Spanish Galleons sunk in the Carribean, one has a cargo of Gold coins and the other has a cargo of Spanish paper notes from 1650.
Which ship's cargo are you more interested in salvaging?
Iain1962 6 months ago
@Iain1962 The second if you ask me. To me gold is useless rock that looks pretty. I'd love to know what happened to that ship, that's historic value.
Rockyeeful 6 months ago
@Rockyeeful Righto, well I give you some friendly advice, don't go into business for yourself, stick with a job.
Iain1962 6 months ago
@Iain1962 I'm studying Business IT & Management, I know money is important and I totally understand how the world works and understand you. But if humans would evolve further, these things would be meaningless.
And just because I'm honestly saying that I'm sadden that gold is worth this much doesn't mean I don't understand business. So your friendly advice wasn't really advice, but you did say it rather friendly! :)
Rockyeeful 6 months ago
@Rockyeeful OK well think about this, money is the crux of any transaction you make if you engage in a 2 year project, you want to know when you get paid that the money will have the same purchasing power as today.
Would you accept to play poker when one player can reload with as many chips as they want, but not add any value into the cash out, essentially rebuying for free, people would riot, but that's what Central Banks do, just keep adding chips...
Iain1962 6 months ago
@Rockyeeful
You don't understand. Gold ISN'T GOING UP. Dollars are being devalued by the printing of billions more every day. Gold buys the same today as 150 years ago. Gold isn't going up. Fiat (paper money backed by nothing of value but government promises) is being inflated.
dishesdealer417 5 months ago
This video is full of half truths - don't be sucked into the line that "Gold is Independent." Gold is controlled by the same powers that control the global money supply, and making gold the basis of all money is NOT a viable solution. Money creation is the sovereign right of every nation, but, like all inventions, money can be used for good or evil, especially with corrupt politicians in charge. But at least they can be voted out - the banksters are above the vote, and above the law.
EzekielKrunch 7 months ago
@EzekielKrunch True, they own a lot of it, but unlike fiat money, there's no way for them to print it and force people to pay an invisible tax to them through inflation like they're doing right now. I'd much rather hold a bit of gold and know that no one can stealthy steal it from then hold a lot of fiat money that constantly depreciates because the central banks are printing new money all the time..
hazeee123 7 months ago
@hazeee123 First of all, money is an invention and its supply must be able to expand or contract to meet the needs of an economy; no precious metal can do this. Secondly, money can NOT be a commodity because then a nation's net worth is tied to the value of a commodity that can be controlled or manipulated. Third, money that is a commodity is subject to hording whenever innefficiencies arise; this will kill any massive economy that relies on the commodity. Lastly, read Bill Still's new book.
EzekielKrunch 7 months ago
@EzekielKrunch First of all how can you pretend your statements are true when history teaches us that they are wrong? Second I read mises.org and have seen enough present and past evidence that leads me to believe that the Austrian school of economics is the only school of which lessons I should trust to be true.
hazeee123 7 months ago
@hazeee123 History does NOT teach that gold currency works! Where do you get this from? And secondly, while Misesand Ron Paul are great (and correct) at pointing out the evil of the Fed and the Banksters behind it, are you aware that Mises himself was sponsored by the Rockefellers? Austrians are 75% correct, but they are goldbugs and WANT us to go to a currency backed by the commodity that they control. And, there is NOT ENOUGH gold on the planet to support 7 billion people.
EzekielKrunch 7 months ago
@EzekielKrunch Austrians do not want anything to be as they think is good or right, they want a free market and they want this market to decide. It just so happens to be that whenever in past 6000 years of human history the market had a choice it decided gold and silver were best. And that's a big difference between what you said and what the fact of the matter is. Second there is more than enough gold to support an infinite amount of people unless you have evidence on the contrary?
hazeee123 7 months ago
@hazeee123 The essence of many of the Founders of the Austrian School is anarchism. Look it up - I didn't believe it either, until I did some research (including editing the new Bill Still book, No More National Debt). I frequent the Mises site daily but you need to understand that Rothbard is an anarchist. And gold is too rare to ever serve a nation or the world as money.
I don't want to argue with you - we are on the same team and have been divided by those that want us to argue.
EzekielKrunch 7 months ago
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Brilliant video Dominic and looks like is going vital. Congratulations!
'GoldNomics - Cash or Gold Bullion' is similar but focuses on gold more as a currency and store of value for investors and savers:
Two videos are complimentary and should help further educate people internationally about gold.
Well done again from GoldCore.
GoldCoreLimited 7 months ago
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GoldCoreLimited 7 months ago
The Judge needs to feature this video on Freedom Watch! This is such a fabulous introduction for friends and family!
Brownyman 7 months ago
this was great! well done
bkre8ive 7 months ago
Wow seriously? Leaving the gold standard is the reason why Nazi Germany happened? Nothing like Godwining yourself to win an argument.
Pullingmyselfup 7 months ago
@Pullingmyselfup If you researched the history of it, you'd see it's true. The Germans blamed their inflation woes in the Jewish bankers.
SpykerSpeed 7 months ago
@SpykerSpeed I have researched it. Germany had to give up all their gold as part of their war reparations and then had to pay more. That is what caused their hyperinflation. To state that they went into hyperinflation SOLELY because they went off the gold standard as this video implies is rewriting history to fit an agenda.
Pullingmyselfup 7 months ago
Nothing but lies. Gold has been devalued dozens of times.
Y2kplaya92 7 months ago
@Y2kplaya92 According to what? Fiat money?
centralthought 7 months ago
@centralthought After Spain started mining gold in Argentina, Gold's value dropped like a stone. The same happened after Britain started mining gold in West Africa. Gold has experienced massive devaluations over time.
Y2kplaya92 7 months ago
@Y2kplaya92 When Andrew Jackson dismantled the 2nd National Bank (Central Bank of USA and predecessor to the Federal Reserve) there was actually in INCREASE in purchasing power for one's gold. A slow slight deflation for 70 years!
purplefetus3 7 months ago
@Y2kplaya92 Only localized devaluations, which really doesn't matter on an international scale - you don't want your currency to be too powerful, anyway, otherwise exporting becomes difficult.
SpykerSpeed 7 months ago
@Y2kplaya92 True, govts and kings have devalued gold with impurities over the ages. However, then and even now, pure gold STILL holds its purchasing power.
purplefetus3 7 months ago
the only problem is.. those that caused all the problems in the world,,, are the same people that have all the gold..... banks!
he who controls the gold.. makes the rules........
we still lose....
cds162 7 months ago
@rampage241 not trying to get into an internet argument, but these countries were already at war, and just because they run out of money during the wars doesnt mean the wars would stop. Any nation that chooses a path that would allow them less financial clout would obviously lose the battle, and so, they dont want that to happen. Also, the video says that gold has a constant purchasing power throughout the ages, which simply isnt true. Inflation exists for every currency, even gold.
mrandmrshorse 7 months ago
I don't agree with the video. Because the banksters on top have loads of gold to. Either way they win. So switching back to gold will leave the same people in power as today. If you want a revolution, join the Zeitgeist movement.
kdejaeger 7 months ago
Sticking to the gold standard would not have stopped any wars from happening at all. He simply asserts that it is true without justifying it at all and assumes the viewers will just believe that if a country is unable to fund a war any further, then it will just stop fighting (almost definitely wouldn't happen)
mrandmrshorse 7 months ago in playlist a - July 29 - Gold
@mrandmrshorse so soldiers will fight for free? Arms manufactures, steel mills, gun powder, fuel all for free?
rampage241 7 months ago
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Gold is our best friend. And that is all.
bezant1971 7 months ago
Aweosme video! Well done! Right to the point.........maybe the FED should watch it !
notpcone 7 months ago
"The ability to issue money is too much power for governments, banks, anybody... The best way to stop the abuse of power is to spread it as thinly and widely as possible"
difficult to say it better or clearer
gallatinfx 7 months ago
Printing paper against nothing is nothing. Rare metals are more readily accepted Globally. Value is the key! Ask yourself a few questions first if you are going to buy. What is the monetary standard for Gold? How is the price being set at any given point in time for Gold? What is the basic unit of measure for Gold? How was this basic unit of measure formulated? War in itself wasn't the reason to take nations off the "Gold Standard", but rather those who created the prelude to war.
rabbitails 7 months ago
Bitcoin!
triforcelink 7 months ago
@triforcelink
I don't want a "money" that can be hacked. It is bad enough govt. & priviate banking cartels (the federal reserve) can print all the money they want & control interest rates. Bitcoin got hacked & a lot of people lost money on this fake "money". What happens when the power grid goes down? No electricty = no way to buy anything.
dishesdealer417 5 months ago
@dishesdealer417 What happens if all the water on the planet just evaporates? Quite frankly, I find the chances of the entire power grid going down non existent. The power grid is not going anywhere, nor is the internet. Oh, and bitcoin was not hacked, various bitcoin services like ewallets and exchanges were.
triforcelink 5 months ago
@triforcelink *1* Re: Power grid going down. June 21, 2011 NASA article: In Sept. 1859, on the eve of a below-average solar cycle, the sun unleashed one of the most powerful storms in centuries. The underlying flare was so unusual, researchers still aren't sure how to categorize it. The blast peppered Earth with the most energetic protons in half-a-millennium, induced electrical currents that set telegraph offices on fire, and sparked Northern Lights over Cuba and Hawaii.
ErikLiberty 5 months ago
@triforcelink *2* This week, officials have gathered at the National Press Club in Washington DC to ask themselves a simple question: What if it happens again?
"A similar storm today might knock us for a loop," says Lika Guhathakurta, a solar physicist at NASA headquarters. "Modern society depends on high-tech systems such as smart power grids, GPS, and satellite communications--all of which are vulnerable to solar storms."
ErikLiberty 5 months ago
@triforcelink *3* In 1859 the worst-case scenario was a day or two without telegraph messages and a lot of puzzled sky watchers on tropical islands.
In 2011 the situation would be more serious. An avalanche of blackouts carried across continents by long-distance power lines could last for weeks to months as engineers struggle to repair damaged transformers. Planes and ships couldn’t trust GPS units for navigation.
ErikLiberty 5 months ago
@triforcelink *4* Banking and financial networks might go offline, disrupting commerce in a way unique to the Information Age. According to a 2008 report from the National Academy of Sciences, a century-class solar storm could have the economic impact of 20 hurricane Katrinas.
ErikLiberty 5 months ago
@triforcelink *5* And from the Daily Telegraph: Senior space agency scientists believe the Earth will be hit with unprecedented levels of magnetic energy from solar flares after the Sun wakes “from a deep slumber” sometime around 2013, The Daily Telegraph can disclose.
In a new warning, Nasa said the super storm would hit like “a bolt of lightning” and could cause catastrophic consequences for the world’s health, emergency services and national security unless precautions are taken.
ErikLiberty 5 months ago
perfect besides the bit about raping the planet, which im pretty sure its considered mad science even by the bulk of the population by now.
wesleytarbuck 7 months ago
An EXCELLENT introduction to the basics of GOLD vs paper/fiat money. END THE FED > END THE WARS.
iannetta11 7 months ago
gold standard = NO overpopulation = ALL GOOD
mmaaxx1198 7 months ago
“This Act [the Federal Reserve Act, Dec. 23rd 1913] establishes the most gigantic trust on earth. When the President [Woodrow Wilson (D)] signs the Bill; the invisible government of the Monetary Power will be legalized. … The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created.” - Congressman Charles Lindbergh, Sr.
End the Fed!
yakyakyak69 7 months ago
Listen up dumb-smucks. Gold is limited. It cannot be created by governments, unlike paper. It is also fungible & divisible unlike land & other real assets. It is for all these reasons that gold has been chosen as money by every civilization.
spsiman 7 months ago
Gold really is independent? But most of the worlds gold lies with the British Royal Family innit??
fursatali 7 months ago
What a shitty video, very misleading too.
bweazel 7 months ago
See, this is why mankind is fucking up the world, we are all dumbasses. It doesn't matter how smart you are, one day, mankind will be gone.
Metgoe 7 months ago
you may not eat or use gold but all civlizations value it as precious . all civilazations for 5000 yrs have loved it . so its money !! u like it or not
amitshah55 7 months ago 8
@amitshah55 People love it therefore it's money? That is incredibly stupid. People also love the land they live on and the food that sustains them. The native people of this continent may have loved gold as an adornment, but that doesn't mean it was important or any more valuable than a stone that you might make a statue out of or string that you might use to create a necklace. It's a shiny material that is fun but not a necessary part of life. It's value is purely symbolic.
radicalKT 7 months ago
@radicalKT @radicalKT ...People love land yes so it is also money but is not exchangeable easily say between russia and usa but gold can be transferred for payment. food is also money but can not be stored over a long period. Gold and silver and i dont know why have been adored by mankind since ages !!!! i see ur point. but gold and silver have been valued so heavily. Even in the egyptian civilisations.There must really be a more valid reason.Till we find it , gold is better than paper currency
amitshah55 7 months ago
@amitshah55 ".People love land yes so it is also money ". No, it's not money. You don't seem to understand what money is. You are a moron. Stop embarrassing yourself.
radicalKT 7 months ago
@radicalKT why are you losing ur language radicalKT ?
amitshah55 7 months ago
@amitshah55
Silver has huge uses in solar cell technology & medicine. Silver has strong antibiotic properties which are finding more and more uses. Every piece of modern technology you have has a little silve rin it. The couch you are sitting on at the hospital has silver in it to stop it from being infected by any bacteria/viruses. that modern biking shirt you are wearing has silver in it to stop perspiration from smelling. There is less silver than gold in existance. Silver is better
dishesdealer417 5 months ago
Basically a number of valid points. But the underlying problem is that the most of the gold bullion is held precisely by those that most profit from a fiat system. The bottom line is always the same- you can't run a democratic nation without a middle class. The top 1/10 of one percent has an inordinate amount of material assets (including gold) and has legally bought Washington, D.C. This isn't radical talk, since Buffet, Gate's father and other wealthy, middle of the road folks all say the same
tinmantt 7 months ago
Gold only has value because we declare it to have value, just like we do with fiat money. It's just a rock. Food has real value. Shelter has real value. The value of gold is no less imaginary than that of money. The ONLY difference between gold representing value and fiat money representing value is that gold has, by nature, a limited supply. If we could just learn to control ourselves financially, we could limit our own money supply, regardless of what form is used to represent money.
radicalKT 7 months ago
ONLY ONE PROBLEM-now those who printed all that fiat currency used it to buy all the gold and they now hold 90% of the gold and will use it to maintain control and usher in their new one world mark of the beast monetary system... The prophecy will be fulfilled-it is only a matter of when, that is what we are fighting for.
FirstAmendmentRadio 7 months ago 5
@FirstAmendmentRadio And that's how they put paper money in the system, and keep the gold for themselves (and out of the system) to make sure it won't be as it should be.
LanteGFX 6 months ago
@FirstAmendmentRadio I don't take fairy tales which command the murder of homosexuals seriously.
DoctorCapitalist 5 months ago
@FirstAmendmentRadio If they "bought all of the gold", it would be worth more than $2,000 per ounce.
TheSelfGoverned 5 months ago
@FirstAmendmentRadio Mark of the beast was the libellus issued by Nero - All bible prophecy was fulfilled by 70 AD with the destruction and judgment on Jerusalem. Already happened dude...
CohibaSkeeza 5 months ago
If gold/silver money is the solution, why didn't it protect the People from bankster engineered panics in 1881, 1907, 1921,1929? Don't we agree that the banksters manipulate the price of gold/silver now? Whoever controls the supply of money will control that society. Do the People or the elite control the supply of gold/silver? If the US Treasury borrows $1M in gold from the banksters, where does the money come from to pay the interest? The Rothschilds' destroyed the sovereignty of US on gold
truthbomb1 7 months ago
@truthbomb1 Because besides a fiat money system we have also a horrific fractional reserve banking system where banks can lend many times more then they have in gold (or in these days money).
Paper money should represent visible real stuff and banks should not be allowed to loan out more than they have. Besides gold, silver should also be money, otherwise there is not enough gold for the current economy to function.
gijs370 7 months ago
@gijs370 Why does that gold have value in the first place? It has no real usefulness as a material until we decide to give it value as money. If we only need a gold standard to limit the supply of money, why not just limit the supply of money and show some freaking financial discipline without having vaults full of shiny metals that just sit and take up space?
radicalKT 7 months ago
@radicalKT Actually gold has many uses due to its unique physical characteristics and aesthetic appearance: in electronics and technology (high conductivity, reflects radiation), jewelry, medicine (dentistry & surgery), as a coloring agent, etc. Don't say gold has no value aside from acting as money unless you know what you're talking about.
ErikWithBrain 7 months ago
@ErikWithBrain The value that we assign to gold as a currency is imaginary and no different than assigning value to a piece of paper. Discussing Its physical properties and actual uses is different. Actually, giving gold the inflated value that we do raises the price that it might have in the market if we only used it for the applications you described. And if it is so useful, why would we want to take the majority of it out of circulation? Why not use tin, or copper, or coal to back currency?
radicalKT 7 months ago
@radicalKT Yeah, I read your other comments before posting, but I meant mine as a response specifically to your "it has no real usefulness as a material" comment. Aside from that though, you make a good point. And I think much of the emphasis on gold comes down to its appearance and simply..tradition. Kinda lame, but in the end, we really to get rid of this fiat bullshit, or give the system an overhaul. It's just too easy to manipulate. Central banks are raping us.
ErikWithBrain 7 months ago
@radicalKT Gold has usefulness as jewelry or as conductive material. This gives it value. Paper-money does not have a intrinsic value and there is no limit on how much can be created.
You could of course impose a self created limit on the amount of money, however governments have repeatably shown they can't hold the responsibility.
Besides it does not have to be gold that our money represents, it could be multiple other things.
gijs370 7 months ago
@gijs370 However gold is more practical because it is easily stored and easily divided in equal sized pieces.
If we would choose another fiat currency to replace the dollar and the euro, then we must prevent the government or a private bank ceasing the control of that currency.
Then I would like to see an independent bank that replaces its leaders every 4 years and is only allowed to replace existing money and increase/decrease it by the amount of population/economic-growth.
gijs370 7 months ago
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m i s e s . o r g / b o o ks
BeFreeOrBeASlave 7 months ago
xxx
BeFreeOrBeASlave 7 months ago
@ajmlkhsa "It sounds good. But remember, it is sponsered by a gold company."
Fiat money "sounds good," but remember it is sponsored by the international banking cartel that creates money out of thin air at near zero cost and then lends it out at interest through its gov't backed monopoly privilege. Now all the world is in debt. One might ask, "To whom?" It seems to me that the rational person would be more skeptical of the known fraud of the fiat scheme than of proven monetary meta
MillionthUsername 7 months ago
Yes, I have read Rothbard's "What has the Government Done to Your Money" It is excellent. I highly recommend it. It has been a while since I read it, but my recollection is that in his methodical way Rothbard outlines why the gold coin standard is superior to fiat money.
bgwms52 7 months ago
oh, and the interest rate system must be abolished as well. it is mathematically impossible to pay back interest, and the interest on the interest, with a fixed money supply (as it would be with gold, since gold mining is projected to run out sometime the next 30 years, thus money supply would then be stable)
so interest rates are fraud to begin with and can only lead to more money printing to pay the banks -> inflation, or implosion of the system. also, fractional reserve banking is fraud
stoneeh 7 months ago
@stoneeh no one's going to loan out stuff without interest. the interest makes up for the oppurtunity cost.
cooledcannon 6 months ago
@cooledcannon we dont need loans to begin with. it's just living beyond your means. be productive, and you'll earn all the money you'll ever need. apart from that, much more wealth would NOT be confiscated by the government through taxes and inflation if there was no debt to begin with, so the individual would already have more purchasing power available to him, thus eliminating much of the need for loans/debt (see the virtous cycle, instead of the vicious cycle we currently live in?)
stoneeh 6 months ago
fiat money = the pest of all mankind
stoneeh 7 months ago
If you need more information on how the so-called "Banking System" operates (how it drives prices up, creates booms and busts, transfers power from the productive class to the parasitic class, etc.) there is a short / free book available online. (Google "Meet The System")
realjoeplummer 7 months ago
Excellent and concise presentation, very impressive. Have taken an interest in and have been buying gold and silver recently. This is one of the best overviews I have seen.
InfiniteFlows 7 months ago
18k is pretty good in one day. Our network is growing!
nogl0001 7 months ago
If you need to explain metals to a family member, this video is as good as it gets.
ryanskapa 7 months ago
Brilliant!
Gold, the only lie detector that actually works.
Cognitive Dissonance, @ Zero Hedge
emmy1cat 7 months ago
Great video! END THE FED--> END THE WARS
jonschpa 7 months ago
Ask anyone in Seoul if they would prefer to live in North Korea, or anyone in Paris if they wold like to be German citizens.
Citing the less fortunate wars and then practically blaming all financial problems on wars is pha1l.
Thaodean 7 months ago
im a Gold bug and believe in this video...however, just understand that Gold was over $800 ounce in 1980...and was +/- $300 from 1981 to 2000.....so bubbles do form..DYODD
chromedreamz 7 months ago
watch?v=2NJnL10vZ1Y
Ron Paul 2012!!
1776Rosco 7 months ago
Well done! Shows the connection between warmongering governments and fiat money. Fiat money is simply immoral.
4thstuning 7 months ago
Does anyone else fear that this whole buy gold thing is a scam? I believe in the gold standard, but I know people who are buying gold & having it sent to them. All the ads.... I don't know?
616MGT 7 months ago
@616MGT
Gold is not a scam, trust me on that. A lot of companies are rushing to try and make some money off of gold but don't let that dishearten you, the fundamentals and principals behind gold are rock solid (pun intended). Just look at the central banks of all the wealthy countries hoarding gold like crazyy. Do you think they would be that stupid?
CrazyEurazion 7 months ago
@CrazyEurazion Do I think they would be that stupid? Hell yes I do! How can you claim that our government did a stupid thing by printing more and more money and driving the value down then assume European governments would never do anything stupid? Does gold have a use other than as money? Can you eat or drink it? Use it to get around or communicate with people? Gold's value is just as imaginary as that of paper money. All we need to do is limit the supply of our currency, whatever it is.
radicalKT 7 months ago
@radicalKT The Supply of Gold is already Limited for us!
he11sbe11s 7 months ago
@he11sbe11s So your only justification is that there is already a limited supply of gold, therefore we don't have to impose our own limits. That is just plain lazy and unimaginative. Many things in this world have a limited supply. Gold is not unique in that regard. There is no logical reason to choose gold over any other relatively useless natural resource with a limited supply (unless you already own a lot of gold, like the company that created this propaganda).
radicalKT 7 months ago
@radicalKT Gold is being heavily used in small electronics now days. All of thise new smart phones have a decent amount of gold. Gold conducts electricity very well even on a nano level. So yes, gold does have other uses.
jahmatic1979 6 months ago
Just repeal the legal tender laws and let anyone use whatever they want as a medium of exchange. Gold, silver, sea shells or cattle, just stop forcing people to take FRNs unless they want to.
jwahlgren 7 months ago
As soon as the Fed will increate the rate forget gold because it will be the destruction of this bubble as Volker made it in 70's
betandbetter 7 months ago
A few have been tripped up on the reference to social inequality in this video. Those commenting have missed the gist of the presentation. At no time was it mentioned that social inequality did not exist under the gold but instead (paraphrasing) would not have happened to the same extent under the gold standard.
tpvtube 7 months ago 2
While I agree with the general concept of this video, I think there are a lot of assumptions and oversimplifications that are being made. I am all for the gold standard, and I think we need to do a better job of connecting the dots so more people can understand the true concepts behind currency.
mkettner1869 7 months ago
@mkettner1869 No one wants a gold standard. I certainly don't the government to regulate such a monetary system. I do however want the free market to freely decide what should be money and I'm pretty sure it would pick gold and silver.
hazeee123 7 months ago
@hazeee123
Yes, we need market-determined gold-standard, NOT the PHONY "gold-standard" controlled by governments & banks
lomocan 7 months ago 2