Trump says the US is like a 'third world country'

Ah yes, the "we're just as ****ed as everyone else so we're a-ok" argument. You've been programmed well sir. Read my sig.

 

The post wasn't even directed at you, my rage-filled comrade.

You need a break. Maybe at a science summer camp.

 

You cant back currency with gold because in inflationary times, people will convert paper to gold. If you say they can’t, then gold backed paper is worthless. If you say they can, then you are exposed to a gold run on your treasury.

 

Without getting too specific… in war, many nifty things happen and payments are made in gold. For example, one might trade gold wire to a village elder let you know when a river is running muddy. (I.E. enemy troops are crossing.)

 

Fiat currency is worthless because it’s not backed by anything. In the next recession your pieces of paper will become whatever the person issuing them says they’re worth, which will be paid in more bits of paper. Gold has a commodity standard value and if a reserve currency isn’t backed by anything, it’s why the US can be $30 trillion in debt and bankrupt, yet still carry on. It’s why Russia and China are buying up gold.

 

Maybe you should start a thread. I'm not a gold guy. I see gold as a mostly useless metal other than to say "I have more of it than you do".

 

Holds its value unlike paper currency which can be manipulated, it's why all first-world countries stockpile it.

 

Not if it's sanctioned to the currency you want to trade it for. Then it's just a liability with insurance fees and transportation costs you lose to the black market.

Crypto is the future. You can buy stocks, gold and fiat currency with it from anywhere, anytime.

 

Depends who's running crypto, because someone is behind it. It's why countries store gold and don't do online sales.

 

We are behind it, we run it.

 

Which is why countries won't invest in it and are increasingly abandoning the dollar.

 

That's what inflation is.

 

True, if they were planning for the future.

 

Inflation is a feature of fiat currency, not gold backed currency.

 

How the banker families made their riches was to give the masses a safe place to keep the precious metals and alike. In return, a receipt was given denoting the value of the goods stored in their coffers. This was how the backing of currency was created. Because the receipt/banknote had something with intrinsic value attached to it. Nowadays, our money is backed by nothing. It has value even though it's not backed by anything, we give it that value that's not really there.

 

All the known times the Trump campaign met with Russians

 

Nope.

https://www.stlouisfed.org/on-the-economy/2014/august/the-gold-standard-and-price-inflation

 

What did he "he get done"?

 

Smart ppl buy gold. Dumb ppl save paper. Europeans aren't completely dumb, that's why the invaded and massacred and colonized their way across Africa, because of all the gold deposits there.

 

Yes, a future whereby the various governments can take all your 'money' with a few strokes on a keyboard. A totally digital system is a system without freedom.

 

You call it worthless, and yet it can be used to by assets like, land, real estate, businesses and gold.

Gold is same price today as it was 2 years ago, and cheaper that it was 10 yrs ago.

 

Suppose your country wants to grow, how do they increase the money supply to do it?

 

Nope.
But they can take your gold if you try an leave the country with it.

 

It’s a piece of paper and only worth anything until someone else says it’s worthless. Tell me what it’s worth if and when the dollar collapses.

 

$1700 is worth 1 ounce in gold. There is no reason to think would suddenly become worthless, but if you think so, then by all means get rid of it.