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How would it be possible to return to a gold standard monetary system?
BEESTING...Thank you so much...I am pretty ignorant about this subject and needed some info...Is it true that the Fed is a private bank? and ...if we tried to get out from under them...would they more than likely call in the debt that we have incurred?
The U. S. Treasury claims to have about 8,130 tons of Gold in storage.
http://www.treas.gov/press/releases/2007109152793174.htm
However, from what I've read the Gold has not been officially audited since 1953.
It would take some adjustment but New Hampshire already has a state plan awaiting state legislation:
http://www.goldmoneybill.org/
Gold available:
http://www.gold-eagle.com/editorials_05/zurbuchen011506.html
Ron Paul has written several books on this subject, & I'm lucky enough to own one of them.
There are several theories on exactly how to do it but, this company already has a Gold/Silver type of working monetary system:
http://www.goldmoney.com/
Hope this helps a little.
Thank you for the question!
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[edit] The myth about not enough Gold!
From the Ron Paul Money Book Page 213:
{Ron Paul} I find it amazing that economists can make statements like this, for it is an elementary principle of economics that if one raises the price of a commodity, one will always have enough of that commodity. What we saw in the {present & 1980} runup of Gold prices is in fact the raising in the price of Gold to match the depreciation of the dollar that has occured, and is still occurring.
[edit # 2.] This is a very long read on the Fed.
Ron Paul has an audio on Gold that is interesting:
http://www.apfn.org/apfn/reserve.htm
Warm Welcome To The World Of Gold Hearts!.....SMILE!
[edit # 3.]
There is a law of economics called Greshems law, which simply means if people start to use money that is more valuable than Federal Reserve notes, the less valuable money, FRN's, will eventually disappear.
Google-The Greenback or Continental dollar. Both unbacked currencies became worthless, as the people preferred to use Gold or Gold backed money.
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August 27th, 2006 in
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