Liberal Forum

I sense some Knuckle Draggers here who waste our time talking about "Manufactured Inflation" when we ought to be talking about WHO gets to create money out of thin air and WHO gets to decide HOW it is spent. This POWER to create all of our realities belongs in the hands of a few? NO Transparency, NO Accountability, and WE don't question this? Are we a bunch of "Toddlers" with BLIND TRUST who can be easily led and guided or have we become Chemically Lobotomized by all the Fluoride in our water and the other thousands of manufactured chemicals put into our Food, Water, Air, Ground, and directly into our Veins and mouths? They have "dumbed" down our nation through Chemical Lobotomy! Don't blame the victim. Put the blame where it belongs! The British "Empire" aka "the crown" aka, the "City of London" Corporation and the Eugenic Nightmare of their Corpocracy that they are feeding the world. These DELUSIONAL PSYCHOPATHS need to be arrested. The chemical poisoning needs to be stopped. The state/corporate sponsored terrorism participants and cheerleaders need to be rounded up and tried in new Nurnberg trials like after WWII. So don't blame the victims of chemical poisoning so much as the parasitic perpetrators aka the Banksters. The enemy has to be identified. No more falling for false flags. After 50 years it has officially been released that the "Gulf of Tonkin" Incidence that officially started the VIETNAM WAR was a lie by the Renegade Government of Occupation in Wash. D. C. NO North Vietnamese ships fired on our ships... Another LIE / FALSE FLAG. It's time the REAL AMERICANS stood up together and reinstate OUR OWN GOVERNMENT to replace the present Usurpers, the Criminal Corporate Cabal registered as the United States of America Corporation. Yes, the "City of London" Gangster Banksters who fund the Terrorism and Chemical Drug Operations and all the other evil in this world run their evil empire through a system of World-Wide PRIVATE Central Banks replacing every countries currencies with their Petrol Dollar aka the Federal Reserve which is neither Federal or had any reserves. That's right! No Reserves. Not is there NOTHING to back up their PRIVATE CURRENCY but they have accumulated over $2 Quad-TRILLION in Federal Reserve Note DEBT!!! $2 Quad-Trillion of their War & Vice Debt that can never be paid because the income of the entire world for a year in only 80 Trillion. and that is why the "City of London" Bankster Mob/Cartel aka British Empire aka New World Order aka The Elite aka Criminal Delusional Psychopaths etc.etc.etc. are funding and setting up WWIII. In their Delusional State, It's their only way out plus it fits into their Delusional Eugenic Vision and goal to Depopulate the planet from the present 7.5 Billion to a "manageable" 1/2 Billion or even less. How far will they go ??? Only as far as WE let them !!! 5

charles.thompson » 19 Dec 2017 12:37 pm » wrote: No. They are related. They just are not identical.

...i go with milton friedman, not you chucky!...(CETERIS PARIBUS) "Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. … A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.
The Counter-Revolution in Monetary Theory (1970)

...charles, i implore you to stfu about your lame republican-radio/econ 101 THEORIES about 'our' illion dollar economy until you gain an honest clue as to the hideous REALITY of the origin, nature, etc., of even one dollar!...shhhhhhhhhhhhhhhhhhhhhh...let the grown-up$ talk...

https://www.globalresearch.ca/who-owns- ... erve/10489

“Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.” – The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s.....

...So let’s review:
1. The Fed is privately owned.
Its shareholders are private banks. In fact, 100% of its shareholders are private banks. None of its stock is owned by the government.
2. The fact that the Fed does not get “appropriations” from Congress basically means that it gets its money from Congress without congressional approval, by engaging in “open market operations.”
Here is how it works: When the government is short of funds, the Treasury issues bonds and delivers them to bond dealers, which auction them off. When the Fed wants to “expand the money supply” (create money), it steps in and buys bonds from these dealers with newly-issued dollars acquired by the Fed for the cost of writing them into an account on a computer screen. These maneuvers are called “open market operations” because the Fed buys the bonds on the “open market” from the bond dealers. The bonds then become the “reserves” that the banking establishment uses to back its loans. In another bit of sleight of hand known as “fractional reserve” lending, the same reserves are lent many times over, further expanding the money supply, generating interest for the banks with each loan. It was this money-creating process that prompted Wright Patman, Chairman of the House Banking and Currency Committee in the 1960s, to call the Federal Reserve “a total money-making machine.” He wrote:
“When the Federal Reserve writes a check for a government bond it does exactly what any bank does, it creates money, it created money purely and simply by writing a check.”
3. The Fed generates profits for its shareholders.
The interest on bonds acquired with its newly-issued Federal Reserve Notes pays the Fed’s operating expenses plus a guaranteed 6% return to its banker shareholders. A mere 6% a year may not be considered a profit in the world of Wall Street high finance, but most businesses that manage to cover all their expenses and give their shareholders a guaranteed 6% return are considered “for profit” corporations.
In addition to this guaranteed 6%, the banks will now be getting interest from the taxpayers on their “reserves.” The basic reserve requirement set by the Federal Reserve is 10%. The website of the Federal Reserve Bank of New York explains that as money is redeposited and relent throughout the banking system, this 10% held in “reserve” can be fanned into ten times that sum in loans; that is, $10,000 in reserves becomes $100,000 in loans. Federal Reserve Statistical Release H.8 puts the total “loans and leases in bank credit” as of September 24, 2008 at $7,049 billion. Ten percent of that is $700 billion. That means we the taxpayers will be paying interest to the banks on at least $700 billion annually – this so that the banks can retain the reserves to accumulate interest on ten times that sum in loans.
The banks earn these returns from the taxpayers for the privilege of having the banks’ interests protected by an all-powerful independent private central bank, even when those interests may be opposed to the taxpayers’ — for example, when the banks use their special status as private money creators to fund speculative derivative schemes that threaten to collapse the U.S. economy. Among other special benefits, banks and other financial institutions (but not other corporations) can borrow at the low Fed funds rate of about 2%. They can then turn around and put this money into 30-year Treasury bonds at 4.5%, earning an immediate 2.5% from the taxpayers, just by virtue of their position as favored banks. A long list of banks (but not other corporations) is also now protected from the short selling that can crash the price of other stocks...."

MONEY makes the World go round! So who controls the money and where it goes? If you don't know then consider yourselves part of the Dumbed Down, Chemically & Psychologically castrated sheeple who are being led off the cliff... By the way, the Federal Reserve is a PRIVATE Bank that is run out of the 1 sq. mile "City of London Corporation" City-State & Pirate Bankster Haven... This seat of the "British Empire" controls the PRIVATE Petro-Dollar Ponzi Scheme Scam. They have accumulated over $2 Quadrillion dollars of debt that can never be paid by a world whose total yearly product is $80 Trillion Dollars. Can you see the forest through the trees yet? THIS IS THE NUMBER 1 ISSUE FOR THE WORLD !!! GET IT YET ? This is why we are used as Cannon Fodder for the British Empire AKA Rothschild. We are the Bankster's Dick Suckers and bend over for them every chance they give US. We seem to like getting it up the WAZOO...

indago » 20 Dec 2017 4:43 am » wrote:
"the phenomenal rise in monthly rent is NOT factored into inflation"

And it should be, as it is an expenditure that must be dealt with by many...

Agreed.

We actually need a fiat system! The problem with the present arrangement is that it's privately owned and NOT Transparent.. The money supply is fundamental power so should obviously be under transparent democratic control. Heavy metal backed script just leaves power with the heavy metal owners. Otherwise we're back to the golden rule; who owns the gold rules. Who owns the GOLD Now? You? For How Long?

...good for you, ingo!...i can see you are going to drive these goddamned fool republican-radio idiots crazy...as does anyone who knows what they are talking about!...

...here's the best production i've ever found that has been shown on 'mainstream' television/radio...even the stinky, squirmy republican radioers ought to be able to understand this elementary-level pre$entation...btw, you goddamned fool republican radioers don't have to watch the whole thing...scroll to 5:45 and watch/listen/learn the next 17 minutes and even you stoooooooooooooooooooooooooooooooooopid republican parrots should be able to learn something of value...

...you too, charles!...out with the old and stooooooooooooooooooooooooooopid and false...in with the new and enlightening and true!

https://www.youtube.com/watch?v=n0UVafdAoII

Cannonpointer » 19 Dec 2017 4:33 pm » wrote:

Sgt Bilko » 19 Dec 2017 4:05 pm » wrote: Finally saying that you are a female!!! I always thought you were too feminine!!! Now the truth comes out!!!

Just because I was RAISED as a debutante, that doesn't make me female. You are SO provincial in your attitudes.

I'll have you know there are scores of genders - SCORES.

My preferred gender pronoun is pffft, you cave man.

From the dictionary.

deb·u·tante
ˈdebyəˌtänt/
noun
an upper-class young woman making her first appearance in fashionable society.

As you were saying!!!

ingo » 20 Dec 2017 2:16 pm » wrote:We actually need a fiat system! The problem with the present arrangement is that it's privately owned and NOT Transparent.. The money supply is fundamental power so should obviously be under transparent democratic control. Heavy metal backed script just leaves power with the heavy metal owners. Otherwise we're back to the golden rule; who owns the gold rules. Who owns the GOLD Now? You? For How Long?

The problem started because of France. The dollar was backed by gold. France then demanded gold for their dollars. This caused a hemorrhage of gold from our reserves of gold. This caused the release from the gold standard. With allies like this who needs enemies!!

Sgt Bilko » 22 Dec 2017 7:53 am » wrote:The problem started because of France. The dollar was backed by gold. France then demanded gold for their dollars. This caused a hemorrhage of gold from our reserves of gold. This caused the release from the gold standard. With allies like this who needs enemies!!

...'the dollar' was never honestly 'backed by gold' you republican-radio, monetary ignoramus, cliche-spewing dummy!...banksters-FOR CENTURIES--have ALWAYS issued MANY more [dollars, etc.] promises to redeem in gold than gold they held....

...here, this guy is the smartest 'gold-bug' i've found...he's waaaaaaaaaaaaaaaaay the fk ahead of you goddamned fool radio-republicans!!...shut your holes, republicans, and listen to someone who actually know$ $omething:

https://www.youtube.com/watch?v=TmPAKuN7S7Y&t=802s

...here's a thoughtful piece witten by hugh downs...yes, that hugh downs!...from the site of steve zarlenga, the world's foremost monetary historian...[if anyone knows of a better monetary historian than sz, please name] ...enjoy: http://www.monetary.org/odder-than-oz/2010/12

Following is a transcript of Mr. Downs radio presentation, which he has graciously allowed us to reprint.

Odder Than Oz by Hugh Downs

What do you suppose Alan Greenspan, Judy Garland, and the American Civil war have in common? Give up? They are all connected to turn-of-the-century U.S. monetary policy, of course! Not so obvious? Let me explain.
Just before the American Civil War broke out, Americans used dollar bills that had been issued by banks. The government didn’t make any money, except coins. When the war began, the government (like all governments at war,) needed a great deal of money fast. President Lincoln decided to print it just like banks did. These early government notes were called “greenbacks” and, as you might expect, printing all those greenbacks led to rampant inflation.
Eventually, about 15 years after the war was over, people who held Federal notes, the greenbacks, could redeem them for gold coin. Few people bothered to make this trade because the war was long over, gold reserves were healthy, and people had faith in the government. Money was once again backed by real gold, but this created a new problem. The government could not print any more money that was not backed by gold, and that constricted the money supply.
People who already had money, that is rich people, didn’t want any more money added to the supply because an inflated money supply, devalues savings. Inflation is always bad for people with money because their money becomes less valuable. But people without money, especially poor farmers, were clamoring for the government to print more. Inflation always helps the poor because debts can be repaid in cheaper dollars and money becomes more available for loans, investments, for everything. By 1874 a new political party called the Greenback Party demanded that the government mint unlimited amounts of coin, print more paper money and give $50 to every U.S. citizen. Poor farmers were demanding an inflationary monetary policy.
The Greenback Party dissolved in about 10 years, but a new party emerged and took up the inflationary baton. They were known as the Populist Party and legions of Midwestern and Southern farmers joined. The Populists eventually supported the Democrats because both parties were part of the Free Silver Movement. Remember the problem with the gold standard: the government couldn’t print any more without discovering more gold to back it up. The Free Silver Movement wanted the government to add silver as yet another standard, in addition to gold. Having two standards would allow the government to inflate the money supply and provide relief to farmers. The price of crops had plummeted but debts still had to be paid in gold backed currency.
On July 8, 1896, during the Democratic national convention, a young 36 year old congressman named william Jennings Bryan gave a brilliant rhetorical flourish to the crowd’s sentiments. Bryan exclaimed: “You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind on a cross of gold.” The ecstatic crowd elected William Jennings Bryan as their presidential candidate.
The “cross of gold,” of course, referred to the single standard; the rigid link between gold and money. The gold standard, favored by Eastern bankers and financiers, was also known as the “hard money policy.” Bryan and his friends championed bi-metallism instead. With two standards, the government could create and back more money – a policy known as “easy money.” Farmers were burdened by bank mortgages on their farms. They were forced to borrow gold backed notes. But the price of gold continued to go up, while the price for crops continued to go down. If U.S. monetary policy eased the money supply, farmers might have a chance to survive.
William Jennings Bryan lost the 1896 election to William McKinley. He lost again to McKinley in 1900 and then, in 1908, Bryan lost yet another presidential election to William Howard Taft. But the dream of a looser money supply, and hatred of Eastern bankers lingered on. The Democratic and Progressive Parties, and others, adopted some of the economic principles forged in the Greenback and Populist Parties. Most interesting, though, is that the spirit of the Free Silver Movement and its resentment for Eastern bankers found its way into one of America’s most original fairy tales: the Wonderful Wizard of Oz.
In 1900, Frank Baum, the author of the Wizard of Oz, was a staunch supporter of the Free Silver Movement and, like many Americans at the time, he distrusted the East coast banking establishment. And now we learn a fascinating story told to us by anthropologist Jack Weatherford. Weatherford tells us, in his new book THE HISTORY OF MONEY, that Baum’s tale of Oz is a thinly disguised parable of turn-of-the-century monetary policy. The Wizard of Oz is the wizard of the gold ounce, the abbreviation of ounce is, of course, oz.
Dorothy, the lead character made famous in the screen version by Judy Garland, represented the average rural American. Dorothy, says Weatherford, was probably modeled on the populist orator Leslie Kelsey who was known as “the Kansas Tornado.” Dorothy, and Toto, are flung by the tornado to the East where they discover the Yellow Brick Road – meaning a gold road. The road leads to Oz “where the wicked witches and wizards of banking operate.”
The Scarecrow is the American farmer. The Tin Woodman is the American factory worker, and the Cowardly Lion is William Jennings Bryan. Weatherford says: “The party’s march on Oz is a re-creation of the 1894 march of Coxey’s Army, a group of unemployed men led by … Jacob S. Coxey to demand (a) public issue of 500 million greenbacks…for (the) common people.” The Wizard himself represented Marcus Hanna who controlled both the Republican Party and the McKinley administration. The Munchkins “were the simpleminded people of the East who did not understand how the wizard … pulled the levers … that controlled the money, the economy, and the government.”
The simpleminded residents of Oz were required to wear green tinted glasses fastened by gold buckles. Off to the West, the Wicked Witch of the West had enslaved the yellow Winkies, which Weatherford explains, “is a reference to the imperialist aims of the Republican administration, which had captured the Phillipines from Spain and refused to grant them independence.”
At the end of the story the Wizard and the Witches are exposed as crude fakes. This dramatic revelation makes everything better. The scarecrow, who represents the farmer, discovers that he is really intelligent and not stupid. The Cowardly Lion, who is really William Jennings Bryan, finds courage. And the Tin Woodman, actually the American factory worker, “received a new source of strength in a bimetallic tool – a golden axe with a blade of silver.”
In the original edition of The Wonderful Wizard of Oz, Dorothy returns to Kansas by clicking the heels of her silver slippers together. The moviemakers decided that red looked better on screen than silver and that’s the way most of us remember the tale. As you can see, and thanks to Jack Weatherford for pointing it out, most of us have completely forgotten the secret story behind the Wizard of Oz.
Today, the Federal Reserve Bank determines America’s monetary policy, but the Fed wasn’t created until 1913. The modern equivelent of the Wizard of Oz – or Marcus Hanna – is, of course, the ever-charming Alan Greenspan. So now you know. The Civil War, Judy Garland and Alan Greenspan, really are connected.

peepee » 23 Dec 2017 9:28 am » wrote:

Sgt Bilko » 22 Dec 2017 7:53 am » wrote:The problem started because of France. The dollar was backed by gold. France then demanded gold for their dollars. This caused a hemorrhage of gold from our reserves of gold. This caused the release from the gold standard. With allies like this who needs enemies!!

...'the dollar' was never honestly 'backed by gold' you republican-radio, monetary ignoramus, cliche-spewing dummy!...banksters-FOR CENTURIES--have ALWAYS issued MANY more [dollars, etc.] promises to redeem in gold than gold they held....

...here, this guy is the smartest 'gold-bug' i've found...he's waaaaaaaaaaaaaaaaay the fk ahead of you goddamned fool radio-republicans!!...shut your holes, republicans, and listen to someone who actually know$ $omething:

https://www.youtube.com/watch?v=TmPAKuN7S7Y&t=802s

Rewriting history again are you. Explain how France was able to turn in dollars for gold **** moron.

https://en.m.wikipedia.org/wiki/Nixon_shock

Sgt Bilko » 25 Dec 2017 3:18 am » wrote:Rewriting history again are you. Explain how France was able to turn in dollars for gold **** moron.

...*******, we never had an honest [100%-backed] gold currency/money...when too many people wanted to redeem their 'paper promises' for the real gold the system was revealed as the fraud it always was...below, is some good info for you republican low-info$..

[happy holidays, you pitiful, mentally-crippled republican-radio-level monetary ignoramus!]

http://www.history.com/this-day-in-hist ... d-standard

"On June 5, 1933, the United States [officially] went off 'the gold standard', [there was never an honest, 100%-backed 'gold standard'] a monetary system in which currency is backed by gold, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. The United States had been on a gold standard since 1879, except for an embargo on gold exports during World War I, but bank failures during the Great Depression of the 1930s frightened the public into hoarding gold, making the policy untenable.
Soon after taking office in March 1933, Roosevelt declared a nationwide bank moratorium in order to prevent a run on the banks by consumers lacking confidence in the economy. He also forbade banks to pay out gold or to export it. According to Keynesian economic theory, one of the best ways to fight off an economic downturn is to inflate the money supply. And increasing the amount of gold held by the Federal Reserve would in turn increase its power to inflate the money supply. Facing similar pressures, Britain had dropped the gold standard in 1931, and Roosevelt had taken note.
On April 5, 1933, Roosevelt ordered all gold coins and gold certificates in denominations of more than $100 turned in for other money. It required all persons to deliver all gold coin, gold bullion and gold certificates owned by them to the Federal Reserve by May 1 for the set price of $20.67 per ounce. By May 10, the government had taken in $300 million of gold coin and $470 million of gold certificates. Two months later, a joint resolution of Congress abrogated the gold clauses in many public and private obligations that required the debtor to repay the creditor in gold dollars of the same weight and fineness as those borrowed. In 1934, the government price of gold was increased to $35 per ounce, effectively increasing the gold on the Federal Reserve’s balance sheets by 69 percent. This increase in assets allowed the Federal Reserve to further inflate the money supply.
The government held the $35 per ounce price until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus completely abandoning the gold standard. In 1974, President Gerald Ford signed legislation that permitted Americans again to own gold bullion."

...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..."

peepee » 27 Dec 2017 9:41 am » wrote:

Sgt Bilko » 25 Dec 2017 3:18 am » wrote:Rewriting history again are you. Explain how France was able to turn in dollars for gold **** moron.

...*******, we never had an honest [100%-backed] gold currency/money...when too many people wanted to redeem their 'paper promises' for the real gold the system was revealed as the fraud it always was...below, is some good info for you republican low-info$..

[happy holidays, you pitiful, mentally-crippled republican-radio-level monetary ignoramus!]

http://www.history.com/this-day-in-hist ... d-standard

"On June 5, 1933, the United States [officially] went off 'the gold standard', [there was never an honest, 100%-backed 'gold standard'] a monetary system in which currency is backed by gold, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. The United States had been on a gold standard since 1879, except for an embargo on gold exports during World War I, but bank failures during the Great Depression of the 1930s frightened the public into hoarding gold, making the policy untenable.
Soon after taking office in March 1933, Roosevelt declared a nationwide bank moratorium in order to prevent a run on the banks by consumers lacking confidence in the economy. He also forbade banks to pay out gold or to export it. According to Keynesian economic theory, one of the best ways to fight off an economic downturn is to inflate the money supply. And increasing the amount of gold held by the Federal Reserve would in turn increase its power to inflate the money supply. Facing similar pressures, Britain had dropped the gold standard in 1931, and Roosevelt had taken note.
On April 5, 1933, Roosevelt ordered all gold coins and gold certificates in denominations of more than $100 turned in for other money. It required all persons to deliver all gold coin, gold bullion and gold certificates owned by them to the Federal Reserve by May 1 for the set price of $20.67 per ounce. By May 10, the government had taken in $300 million of gold coin and $470 million of gold certificates. Two months later, a joint resolution of Congress abrogated the gold clauses in many public and private obligations that required the debtor to repay the creditor in gold dollars of the same weight and fineness as those borrowed. In 1934, the government price of gold was increased to $35 per ounce, effectively increasing the gold on the Federal Reserve’s balance sheets by 69 percent. This increase in assets allowed the Federal Reserve to further inflate the money supply.
The government held the $35 per ounce price until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus completely abandoning the gold standard. In 1974, President Gerald Ford signed legislation that permit ted Americans again to own gold bullion."

You just proved, my point. Until Nixon did his thing large sums of dollars could be converted to gold by those outside the US. After allowing people to again have gold that practice was stopped. However the whole time they could be converted to silver since they were silver certificates as stated on the bill. Live in reality instead of your demented fantasy world!!! The bills no longer state they are silver certificates.

Sgt Bilko » 28 Dec 2017 10:43 am » wrote:

peepee » 27 Dec 2017 9:41 am » wrote:

Sgt Bilko » 25 Dec 2017 3:18 am » wrote:Rewriting history again are you. Explain how France was able to turn in dollars for gold **** moron.

...*******, we never had an honest [100%-backed] gold currency/money...when too many people wanted to redeem their 'paper promises' for the real gold the system was revealed as the fraud it always was...below, is some good info for you republican low-info$..

[happy holidays, you pitiful, mentally-crippled republican-radio-level monetary ignoramus!]

http://www.history.com/this-day-in-hist ... d-standard

"On June 5, 1933, the United States [officially] went off 'the gold standard', [there was never an honest, 100%-backed 'gold standard'] a monetary system in which currency is backed by gold, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. The United States had been on a gold standard since 1879, except for an embargo on gold exports during World War I, but bank failures during the Great Depression of the 1930s frightened the public into hoarding gold, making the policy untenable.
Soon after taking office in March 1933, Roosevelt declared a nationwide bank moratorium in order to prevent a run on the banks by consumers lacking confidence in the economy. He also forbade banks to pay out gold or to export it. According to Keynesian economic theory, one of the best ways to fight off an economic downturn is to inflate the money supply. And increasing the amount of gold held by the Federal Reserve would in turn increase its power to inflate the money supply. Facing similar pressures, Britain had dropped the gold standard in 1931, and Roosevelt had taken note.
On April 5, 1933, Roosevelt ordered all gold coins and gold certificates in denominations of more than $100 turned in for other money. It required all persons to deliver all gold coin, gold bullion and gold certificates owned by them to the Federal Reserve by May 1 for the set price of $20.67 per ounce. By May 10, the government had taken in $300 million of gold coin and $470 million of gold certificates. Two months later, a joint resolution of Congress abrogated the gold clauses in many public and private obligations that required the debtor to repay the creditor in gold dollars of the same weight and fineness as those borrowed. In 1934, the government price of gold was increased to $35 per ounce, effectively increasing the gold on the Federal Reserve’s balance sheets by 69 percent. This increase in assets allowed the Federal Reserve to further inflate the money supply.
The government held the $35 per ounce price until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus completely abandoning the gold standard. In 1974, President Gerald Ford signed legislation that permit ted Americans again to own gold bullion."

You just proved, my point. Until Nixon did his thing large sums of dollars could be converted to gold by those outside the US. After allowing people to again have gold that practice was stopped. However the whole time they could be converted to silver since they were silver certificates as stated on the bill. Live in reality instead of your demented fantasy world!!! The bills no longer state they are silver certificates.

" legislative declaration cannot make the promise of a thing the equivalent of the thing itself" — Supreme Court Justice Stephen J. Field

indago » 28 Dec 2017 1:50 pm » wrote:

Sgt Bilko » 28 Dec 2017 10:43 am » wrote:

peepee » 27 Dec 2017 9:41 am » wrote:


...*******, we never had an honest [100%-backed] gold currency/money...when too many people wanted to redeem their 'paper promises' for the real gold the system was revealed as the fraud it always was...below, is some good info for you republican low-info$..

[happy holidays, you pitiful, mentally-crippled republican-radio-level monetary ignoramus!]

http://www.history.com/this-day-in-hist ... d-standard

"On June 5, 1933, the United States [officially] went off 'the gold standard', [there was never an honest, 100%-backed 'gold standard'] a monetary system in which currency is backed by gold, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold. The United States had been on a gold standard since 1879, except for an embargo on gold exports during World War I, but bank failures during the Great Depression of the 1930s frightened the public into hoarding gold, making the policy untenable.
Soon after taking office in March 1933, Roosevelt declared a nationwide bank moratorium in order to prevent a run on the banks by consumers lacking confidence in the economy. He also forbade banks to pay out gold or to export it. According to Keynesian economic theory, one of the best ways to fight off an economic downturn is to inflate the money supply. And increasing the amount of gold held by the Federal Reserve would in turn increase its power to inflate the money supply. Facing similar pressures, Britain had dropped the gold standard in 1931, and Roosevelt had taken note.
On April 5, 1933, Roosevelt ordered all gold coins and gold certificates in denominations of more than $100 turned in for other money. It required all persons to deliver all gold coin, gold bullion and gold certificates owned by them to the Federal Reserve by May 1 for the set price of $20.67 per ounce. By May 10, the government had taken in $300 million of gold coin and $470 million of gold certificates. Two months later, a joint resolution of Congress abrogated the gold clauses in many public and private obligations that required the debtor to repay the creditor in gold dollars of the same weight and fineness as those borrowed. In 1934, the government price of gold was increased to $35 per ounce, effectively increasing the gold on the Federal Reserve’s balance sheets by 69 percent. This increase in assets allowed the Federal Reserve to further inflate the money supply.
The government held the $35 per ounce price until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus completely abandoning the gold standard. In 1974, President Gerald Ford signed legislation that permit ted Americans again to own gold bullion."

You just proved, my point. Until Nixon did his thing large sums of dollars could be converted to gold by those outside the US. After allowing people to again have gold that practice was stopped. However the whole time they could be converted to silver since they were silver certificates as stated on the bill. Live in reality instead of your demented fantasy world!!! The bills no longer state they are silver certificates.

" legislative declaration cannot make the promise of a thing the equivalent of the thing itself" — Supreme Court Justice Stephen J. Field

ROTFLMAO
You are an ignorant atheist windbag spouting gibberish nonsense about everything!!

Sgt Bilko » 28 Dec 2017 10:43 am » wrote: You just proved, my point. Until Nixon did his thing large sums of dollars could be converted to gold by those outside the US. After allowing people to again have gold that practice was stopped. However the whole time they could be converted to silver since they were silver certificates as stated on the bill. Live in reality instead of your demented fantasy world!!! The bills no longer state they are silver certificates.

...you seem to be having a hard time grasping the hideous nature of 'fractional reserve deposit creation'....think of it this way:...'the gold standard' in reality, was ALWAYS akin to a game of musical chairs where the chairs were the gold...except instead of say 10 people and 9 chairs, there were ten people and maybe two chairs...but as long as the mu$ic was playing, republicrat-level pinheads such as yourself were clueless of THE HIDEOUS REALITY!.....

peepee » 30 Dec 2017 7:08 am » wrote:

Sgt Bilko » 28 Dec 2017 10:43 am » wrote: You just proved, my point. Until Nixon did his thing large sums of dollars could be converted to gold by those outside the US. After allowing people to again have gold that practice was stopped. However the whole time they could be converted to silver since they were silver certificates as stated on the bill. Live in reality instead of your demented fantasy world!!! The bills no longer state they are silver certificates.

...you seem to be having a hard time grasping the hideous nature of 'fractional reserve deposit creation'....think of it this way:...'the gold standard' in reality, was ALWAYS akin to a game of musical chairs where the chairs were the gold...except instead of say 10 people and 9 chairs, there were ten people and maybe two chairs...but as long as the mu$ic was playing, republicrat-level pinheads such as yourself were clueless of THE HIDEOUS REALITY!.....

Closer to 10 people and no chairs for residents of the United States The vast majority of the time it was illegal to have gold except gold coins as a collection.

Sgt Bilko » 30 Dec 2017 8:18 am » wrote: Closer to 10 people and no chairs for residents of the United States The vast majority of the time it was illegal to have gold except gold coins as a collection.

...i can agree with this ^^ statement...so how come you wrote this **** on post #209?: "The problem started because of France. The dollar was backed by gold. France then demanded gold for their dollars. This caused a hemorrhage of gold from our reserves of gold. This caused the release from the gold standard. With allies like this who needs enemies!!"

...AGAIN, the gold standard was ALWAYS a fraud...there was NEVER enough actual gold to pay off all the promises to redeem in gold...''the problem' didn't start [or end] because of France, you babbling, squawking radio-parrot!..

...you say some awful ****-up things, private dildo, and it stems from the fact that ALL OF YOU REPUBLICAN-RADIO-LEVEL CHEERLEADERS ARE BUTT-IGNORAMUSES ABOUT THE BASIC and hideous ORIGIN AND NATURE OF THE MONEY WHICH DOMINATES YOUR TWISTED LIVES...

peepee » 02 Jan 2018 9:14 am » wrote:

Sgt Bilko » 30 Dec 2017 8:18 am » wrote: Closer to 10 people and no chairs for residents of the United States The vast majority of the time it was illegal to have gold except gold coins as a collection.

...i can agree with this ^^ statement...so how come you wrote this **** on post #209?: "The problem started because of France. The dollar was backed by gold. France then demanded gold for their dollars. This caused a hemorrhage of gold from our reserves of gold. This caused the release from the gold standard. With allies like this who needs enemies!!"

...AGAIN, the gold standard was ALWAYS a fraud...there was NEVER enough actual gold to pay off all the promises to redeem in gold...''the problem' didn't start [or end] because of France, you babbling, squawking radio-parrot!..

...you say some awful ****-up things, private dildo, and it stems from the fact that ALL OF YOU REPUBLICAN-RADIO-LEVEL CHEERLEADERS ARE BUTT-IGNORAMUSES ABOUT THE BASIC and hideous ORIGIN AND NATURE OF THE MONEY WHICH DOMINATES YOUR TWISTED LIVES...

Because that triggered Nixon to kill the gold standard. You also ignore the fact that banks never have enough cash on hand to pay out all deposits. Same issue Dippidy Doo.

Get your head out of your ***!!!