28 Dec 2017 7:57 am
...here's some more info for any 'gold-bugs' who want 'to return to the gold standard'... 
...again, we NEVER had any honest 'gold standard'...you had a gold fiat 'standard' whereby the secret squirrel banksters used gold as 'the reserves' within the same stinking 'fractional reserve deposit creation' fraud that the private bankster cartel enjoys today..[today banksters use 'treasury bonds' etc. as 'reserves' instead of metal]...WHAT WE USE AS MONEY IS INSIGNIFICANT COMPARED TO WHO ISSUES MONEY AND HOW...
...[poor squirmi8or, dildo, stinky, ****, et al...cocksuckers constantly open
about illion$ when they don't even know what one i$ or wa$!..]
http://www.philosophicaleconomics.com/2 ... dstandard/
"..For context, in 1896, the Treasury (which was then in control, prior to the creation of the Fed) let its gold reserves fall to 13% of its outstanding supply of base money....
The second misconception pertains to the idea that US financial system was somehow on a gold standard after 1933. It was not. The gold standard ended in the Spring of 1933, when FDR issued executive order 6102. This order made it illegal for individuals within the continental United States to own gold. If gold can’t be legally owned, then it can’t be legally redeemed. If it can’t be legally redeemed, then it can’t constrain the central bank...
The gold standard that was in place from the mid 1930s until 1971 was figurative and ceremonial in nature. The Fed’s gold, which “backed” the dollar, could not be redeemed by the public, therefore the backing had no bite. It did not effectively constrain the Fed or the money supply. That much should obvious–if a gold standard had existed in the 1940s, and had constrained the Fed’s actions, the country would not have been able to finance the massive, record-breaking government deficits of World War 2. Those deficits were financed almost entirely by Fed money creation..."
...again, we NEVER had any honest 'gold standard'...you had a gold fiat 'standard' whereby the secret squirrel banksters used gold as 'the reserves' within the same stinking 'fractional reserve deposit creation' fraud that the private bankster cartel enjoys today..[today banksters use 'treasury bonds' etc. as 'reserves' instead of metal]...WHAT WE USE AS MONEY IS INSIGNIFICANT COMPARED TO WHO ISSUES MONEY AND HOW...
...[poor squirmi8or, dildo, stinky, ****, et al...cocksuckers constantly open
about illion$ when they don't even know what one i$ or wa$!..] http://www.philosophicaleconomics.com/2 ... dstandard/
"..For context, in 1896, the Treasury (which was then in control, prior to the creation of the Fed) let its gold reserves fall to 13% of its outstanding supply of base money....
The second misconception pertains to the idea that US financial system was somehow on a gold standard after 1933. It was not. The gold standard ended in the Spring of 1933, when FDR issued executive order 6102. This order made it illegal for individuals within the continental United States to own gold. If gold can’t be legally owned, then it can’t be legally redeemed. If it can’t be legally redeemed, then it can’t constrain the central bank...
The gold standard that was in place from the mid 1930s until 1971 was figurative and ceremonial in nature. The Fed’s gold, which “backed” the dollar, could not be redeemed by the public, therefore the backing had no bite. It did not effectively constrain the Fed or the money supply. That much should obvious–if a gold standard had existed in the 1940s, and had constrained the Fed’s actions, the country would not have been able to finance the massive, record-breaking government deficits of World War 2. Those deficits were financed almost entirely by Fed money creation..."