The cost of living crisis is ultimately an inflation crisis. There's too much cheap money in the system because banking insiders can lobby the government for truck loads of BS fiat currency whenever they lose big in the markets. Being on the Gold Standard would constrain the bankers and governments in terms of how much latitude they have to change the rules of the game whenever it suits them.
There isn't enough gold on the planet to pay for global trade. If you increase the value of gold to cover global trade it goes to millions of dollars per ounce and you have to outlaw owning it otherwise one dude with a shovel and a gold pan can go make millions of dollars per month working part time
>>62588334Wouldn't be the first time.
>>62588314The crazy thing is that money doesn’t need a standard. It just needs confidence. You don’t need to issue it with interest either.
>>62588334Nope you just make a digital gold asset that is pegged to the supply of all the gold in existence which is roughly 244,000 tonnes of gold and when someone mines it that would be natural inflation. A 1:1 ratio puts the total gold to $35 trillion. If you go to a river and mine some that would be roughly $11 to $114, not millions. Gold mining companies would then be responsible to the inflation instead of the fed which is killing all of our buying powers. This would be a better model than the fiat one.
>>62588464>to the inflationfor the inflation
>>62588464Check your mathAlso 35 trillion is just annual trade and ignores the pool of money not trading at any particular time
>>62588513Math checks out. What I'm saying it, everyone switches to that model because trying to merge them isn't going to work. They contradict. Based on your logic you're saying we should be able to merge the current fiat bullshit into Bitcoin. No lol
>>62588523My id changed, because I'm traveling.
>>62588523You're 4 decimals off I think
>>62588533bro, what he is saying it, at 244,000 metric tons of gold equals approximately $35.05 trillion at a spot price of $4,467.80 per troy ounce which is accurate.
>>62588539No, I just mean, at current values as if the new digital asset was created right now.
>>62588542okay? but what I said isn't wrong lol
>>62588539Ah. In that case he's grossly miscalculating how much gold a person can mine in a month while still ignoring savings and debt
>>62588548oh fair point. what is your math?
>>625885507 billion troy ounces to cover ~155 trillion total money supply and a person in the US can pretty easily pan 1.5 ounces per month
>>62588556its a digital asset. none of that would apply, just like if you swapped over all values in terms of bitcoin.
>>62588556just like how other countries has exchange rates. moving to a new system just converts all current values
>>62588561Then it's not actually a gold standard since you can't sell gold for the standard price and the value is subject to manipulation
>>62588570you're fixated on the "gold standard" which is what I was saying in my op post, but what that anon is saying is a total system convert away from the fed. We are talking about 2 different things.
>>62588579Gold not neededBut yes, I assumed since anon said back with gold 1:1 we were still talking about goldClearly not
>>62588314>>62588464Gold as a backing won't work anymore. It would cripple the economy. What do you do when a bunch of people come in looking for a loan to start a business or build something but there's not enough gold to back it? You tell them sorry wait in line? Then the economy shrinks.Not to mention the actual ownership of the physical gold. If you don't see the shitshow involved with that then you're in the wrong basket weaving forum.
>>62588599>What do you do when a bunch of people come in looking for a loan to start a business or build somethingthat is a very easy problem to fix, you start burning the newly created gold asset per loan amount than mint once the loan is paid back.
>>62588610that changes the value of the digital asset vs. Gold supply.If you can change the value it's not backed by gold. Gold not needed.What you're suggesting is we start using crypto and pretend it's backed by gold
>>62588314The Rothschilds owned basically all the gold by the 1900s.They control the countries who have gold, so it's less relevant to them now than before, but gold is an economic weapon they used to pump and crash countries.
Yes
>>62588599> What do you do when a bunch of people come in looking for a loan to start a business or build something but there's not enough gold to back it? You tell them sorry wait in line?No, you offer them credit at a higher interest rate, interest paid in gold. The economy will grow at the natural rate, inline with the natural stages of human life. The fiat juices aberration of modernity is not natural. The problem is not and has never been credit, its fiat, and even more so, fiat credit. Without gold to anchor prices to something in the real world, the price signal in the economy drifts into the ether. People think hyperinflation means “prices go up really fast”. Thats not correct, hyperinflation fundamentally is “I don’t know what anything costs today, and I don’t know what the price will be tomorrow”. This paradox is the price signal breakdown and tends towards infinity. Money is not a points system, it’s a real physical thing with mass, and when a monetary system departs from any anchoring in the physical the result is always the same.
Im 38 with 3 pensions. How you doing.
>>62588314We should introduce the Token Standard>real scarcity>intristic value>convenient
>>62590884>Token Standard>real scarcityThinking isn't your strong suit.
Unless you treat economics like a system of morality like many libertarians and other retards do, no. Every problem caused by going off it when we did pales in comparison to stating on it. Eventually it'll be better to get back on it and we'll do that then.
>hoped that Miners would finally go on a real run>bounces off the resistance and shits itself againI'm so TIRED of this shitI HATE all the goldbug retards on this fucking board holy shit>inb4 u should have bought solid instead of minersFUCK you I'm here to make money not to larp as part of your little club of STACKOOORS you stupid fuckAt a certain point this board stopped being cutting edge analysis and just became dumbass baggies and gambling idiots.
>>62588334How about we just don't use gold only and instead just use every commodity and equity instead of money? We have the computers to middle man all these trades. I should be able to go to McDonalds and pay with corn or McDonalds stock if I want and then McDonalds would receive what they want out of the trade with the computer making the trades automatically. The value of everything would be measured against the value of everything else and the "price" would just be a unit-less number and not an actual thing you can own by itself.
>>62588334all that means is gold becomes more valuable but it still works as the currency.we can use gold silver and copper, idiot.Meaning most jobs pay in silver, and something like 100 or 1000 ounces of silver gets you 1/20 ounce of gold.The ratios can be figured out based on supply.
>>62591446>suggests using copper as money >calls other people idiots We will never use copper as money as long as we're using electricity.
>>62588314The gold standard doesn't prevent shit.No, I won't elaborate further. I'm tired.
>>62591563it does because it limits how much money can be made out of thin air and declared "valuable" by some JewYou won't elaborate because you literally can't, and prefer to lie instead like the Jew you are.
>>62588314A gold-backed-currency economy experiences inflation every time a new gold source is found for mining, even if new currency hasn't been minted yet. The expectation that new currency will enter the system in the future sends prices up. The current global inflation situation (past 6 years) has as much or more to do with interruptions to the labor force and resources (oil) as anything else. Retired boomers still consume but don't produce, so events such as covid drive prices higher, because boomers leaving the workforce in droves still demand goods but also create a labor shortage, driving labor costs up the price of everything. Countries that haven't engaged in any quantative easing (fiat currency printing) at all have still experienced too-high inflation since 2020.
>>62588599>the economy might shrink>that is why you must have endlessly printed fiat>hey why are you buying precious metals, stop that>hey put the gun down
>>62591643>it limits how much money can be made out of thin air and declared "valuable" by some JewNo, it doesn't.
>>62588334PAN MAN was so ahead of his time.
