809
Comments (35)
sorted by:
16
Click 16 points ago +16 / -0

Gold and silver are skyrocketing up in price.

Hope you guys bought some before this surge.

8
Derplestiltzkin 8 points ago +8 / -0

Bought quite a bit almost a decade ago. Still wish I had bought more over the years.

3
1776forever1776 3 points ago +3 / -0 (edited)

Have some silver, a little gold. The old man taught me a thing or two.

What will be important in the next six months is to diversify that into different commodities. Storable food, water, arms. Consider currency collapse contingencies to barter. Gold doesn’t mean much when it is 9 meals to anarchy.

2
Derplestiltzkin 2 points ago +2 / -0

Yep, I picked up some freeze dried food back in January, expecting covid to potentially be bad when watching the news out of Wuhan.

Now it seems more likely I'll need it for the commie virus spreading in the Pacific NW.

Already reasonably stocked with defensive weapons, but slowly buying more ammo to the degree possible if I can find anything in stock at a reasonable price. Will probably buy more emergency food and a hand pump for my well. Maybe a generator.

1
Anti-Globalist 1 point ago +1 / -0

Be sure you have enough spices to make your food taste good.

1
NucaCola 1 point ago +1 / -0

I have near 2 dozen silver dollars coins from the 1880s - 1940s and about 6 gold $50 coins that my father gave to me. I’m gonna keep sittin on em

1
StationK7 1 point ago +1 / -0

Holy crap it is! I bought some in the recent dip, but should have brought more!

1
OGTD1 1 point ago +1 / -0

NAK master race.

13
4022a 13 points ago +13 / -0

If trump brings back the gold standard. Holy shit

4
kag-2020- 4 points ago +4 / -0

If anyone was going to be to pull it off, it's him. The fact this is even happening shows how far along he already is towards its realization. It makes a lot more sense why they're trying so hard to incite riots though, the Communists who've been running it are desperate to stop him.

1
NucaCola 1 point ago +1 / -0

If we go back to the gold standard and remember the FED, IRS and income tax, what does that mean for pay and the prices of items? Will things go back down in price before inflation set in, and the dollar will be more valuable, or will we all get paid more and not have an inflation spike from it?

9
rinkin 9 points ago +9 / -0

Deep state is pissed

9
murderhornet 9 points ago +15 / -6

Great to post again for those who missed this news a week ago.

16
tokenninja [S] 16 points ago +17 / -1

Was news to me and I guess the other 92 people who upvoted it.

But seriously wtf is with all these Karen’s complaining about posts. If you don’t like it ... don’t upvote. 🤷🏻‍♂️

7
Sliced_Beef_Brisket 7 points ago +7 / -0

The fed keeping interest rates artificially low has done so much damage to our society. They pumped up asset prices for Obama, and millennials have never known how much debt should actually cost. American society (people and government) are addicted to cheap money and spending money they don't have.

6
Mehockmehogan 6 points ago +6 / -0

The Rothschilds and the House of Windsor were not pleased

3
JamesResinquist 3 points ago +3 / -0

Consider this a hostile corporate takeover. For any libertarians or conspiracy theorists on the fence about Trump, this is your proof. He's the only one in several generations who has come this far, and he had the ability to land several more seats in the fed in order to take over the board and nationalize it.

1
Roguebeekeeper 1 point ago +1 / -0

Rumor is that she likes Goldbacks vs the old school gold standard.

1
Anti-Globalist 1 point ago +1 / -0

The answer is clear and has been implemented before in the US.

Debt repudiation is the only solution.

Did you seriously lend money to those people with $20,000,000,000,000 debt? Did you seriously think you were going to be paid back? How is that the fault of anyone but the person loaning the money? Who should be left holding the bag other than the ones doing the loaning?

The American child born tomorrow is not responsible for the debt incurred by the adult borrowing today. No title of the new nobility changes that.

"Congress Shall Have The Power To ... coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;"

"No State shall ... make any Thing but gold and silver Coin a Tender in Payment of Debts"

On debt repudiation by states-https://en.wikipedia.org/wiki/State_bankruptcies_in_the_1840s

Murray Rothbard on debt repudiation- https://youtu.be/pDRMQoTQaME

1
Wagalar 1 point ago +1 / -0

Dang, I'm sorry to hear about her impending suicide.

-3
fablong -3 points ago +8 / -11

The gold standard is a dumb idea. Fight me.

5
Miserable_company 5 points ago +6 / -1

Rather than fighting (we’re on the same side after all), I’d recommended reading The Creature from Jekyll Island. Chapter 7, iirc, breaks down the rational for the gold standard. Over the book, it documents how the federal reserve has been a tool for swamp for ages.

1
fablong 1 point ago +1 / -0

The Federal Reserve and the Gold Standard are two completely different topics.

At the end of the day, gold is a physical commodity with limited supply that is freely traded on a global, open market. As such, the price of gold is volatile and highly vulnerable to manipulation.

Pegging the value of a dollar to a given quantity of gold would enable bad actors, foreign governments, and corporate cartels to wreak havoc on our economy by artificially raising/lowering the value of gold with targeted attacks.

This already happens all the time, and there's nothing anyone can do to stop it.

https://www.ft.com/content/2d7be5a6-d87a-11e9-8f9b-77216ebe1f17

1
ORD_to_SFO 1 point ago +1 / -0

Gold is not highly volatile or vulnerable. It's the same as oil, except the supply is never "used up" like a consumable commodity, and far, far less of it comes out of the ground (as compared to the rate of oil production).

If a country wanted to manipulate or attack, they would have to A) have a HUGE amount of gold to throw around Willy Billy. B) the ability to absorb an equal and likely greater shock to their own economy if they ever tried it!

And, don't you think China is capable of manipulating & attacking us now by acquiring our debt, and then calling it in all of a sudden? Can't they obtain massive amounts of fiat dollars, and then flood certain industries in order to disrupt or destroy them economically? They do this all the time.

1
fablong 1 point ago +1 / -0

Of course the gold market is volatile. Just look at the price fluctuations over the past 30 years. And, yes, the market is constantly being manipulated. This is done primarily through schemes involving futures trading, so bad actors do not actually have to possess large quantities of bullion themselves. There is a ton of information about this online. Feel free to research it yourself.

The advantage of fiat currency is its stability. Money can be taken in and out of circulation, interest rates can be adjusted, and the value of currency can be raised or lowered to offset inflation/deflation. Also people have less incentive to hoard fiat currency during recession than physical commodities, which makes our economy on the whole more resilient.

1
ORD_to_SFO 1 point ago +1 / -0

price fluctuations does not equal volatility. And, gold is a commodity whose value is measured in US dollars... If the price of gold changes, it's not because gold is more or less wanted/needed by the public (tho, there is a small demand factor)... The flux in the price of gold indicates the value of the US dollar is moving. 30 years ago, $20 could have bought all of your groceries, and a candy bar! today, you can buy a 6-pack of beer, and a loaf of bread for $20. Why is that? Inflation. Why is that? Fed/Treasury manipulation. Gold on the other, has been pulled out of the ground at the same rate for the last thousand years. 30 years ago, gold was less than $400/oz. Today, Gold is worth $1,900/oz. Not because Gold disappeared, or demand increased so substantially... it's because it takes far more greenbacks to buy the ounce than it did in 1990, because the value of the fiat dollar has been so manipulated that it has lost that much purchasing power.

fiat currency is not stable. Fiat currency doesn't prevent people from hoarding... but do you know what does prevent people from hoarding fiat currency??? manipulation & inflation.

0
deagesntwizzles 0 points ago +2 / -2

It's still a terrible idea; we'd have to pay our $22 trillion debt in Gold.

When America is debt free, then it could make sense.

2
ORD_to_SFO 2 points ago +2 / -0

How else would debt be paid? Currently, our debt is paid by saddling our children with the burden to pay it or figure out how...because the fed keeps printing money to buy more treasury debt. Are you ok with mortgaging your child's future?

1
NucaCola 1 point ago +1 / -0

That’s the thing, with the removal of the Fed, Trump is more or less going to completely wipe away the debt, and we won’t have to pay for it!

No fiat currency scam = no debts to pay

0
cronoes 0 points ago +1 / -1

Yup. Money demand is a thing, and gold being limited in supply is a major factor as to why we shouldn't go back.

That also said, it isn't an outright defense of the the current system - we are likely to be worse off if we went straight to the gold standard.

2
ORD_to_SFO 2 points ago +2 / -0

The supply of gold has no bearing on the volume of gold-backed currency that can be available in the system. I feel like people oppose the gold standard, because they believe we'd all have to start paying the grocery bill with gold coins...that's not how it works.

-3
uzuruha -3 points ago +1 / -4

The gold standard makes no sense in today's world

3
OGTD1 3 points ago +3 / -0

And printing our way out of every crisis where people act irresponsibility with credit is? There are no fucking consequences for money managers out there And therefore no semblance of personal responsibility. We just trained millions to look to the government when times get tough.
Partial backing of diverse rarities, not just gold, is a good policy.

1
uzuruha 1 point ago +1 / -0

That's not the fault of the fiat system. You can have a fiat system without printing infinite money for endless wars and welfare queens and scary spooky viruses if you just try hard enough. The gold standard doesn't stop idiots in charge from spending money on stupid shit.

1
ORD_to_SFO 1 point ago +1 / -0

That's a common response to the idea of the gold standard. Out of curiosity, what do you think the gold standard means? How do you think it is applied in reality? I ask, because I suspect you have been mislead about how it works, and I want to tease out the answer.