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/biz/ - Business & Finance

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56119485 No.56119485 [Reply] [Original]

Why don’t we just make sure that every dollar/euro can be exchanged for real silver or gold at a fixed rate and the FED needs to keep 1:1 silver/gold in their reserves to back this up?
It seems very obvious. How the fuck did we go away from this?

>> No.56119666

>>56119485
Need inflation for GDP growth.

>> No.56119670

>>56119666
except GDP growth does not matter at all satan

>> No.56119681

>>56119485
Need inflation to redistribute accumulated family savings to new faces.

>"State overseen multiculturalism has failed." - David Cameron, former UK prime minister overseeing state overseen multiculturalism.

>> No.56119938

That's antisemitic.

>> No.56119946

Need inflation to crush savers and have a life based on perpetual consumption and unhappiness because... BECAUSE WE JUST DO OK STOP ASKING QUESTIONS

>> No.56119949

>>56119485
cool it with the anti semitism bro

>> No.56120229

>>56119666
ok satan

>> No.56120322

>>56119485
The gold and silver has all been stolen years ago, and no one wants to tell.

>> No.56120445
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56120445

>>56119485
>we

>> No.56120491

>>56119485
Ask Nixon
> Nevermind, he's dead

>> No.56120509

>>56119485
Because debt deflation and unemployment is worse than debt inflation and forced employment

>> No.56120531
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56120531

>>56119485
It has been done before. That pinko commie fag President Lincoln printed a ton of fiat trash called Greenbacks to finance the War of Northern Aggression. It took a decade of battles in congress and the Supreme Court to decide what to do with that fiat trash. The outcome was the Resumption Act of 1875. It stated that in 1879 greenbacks would be redeemable for full face value in gold. The Secretary of the Treasury needed that much time to buy enough gold from Europe. Pic related is the year and mintage amounts for the $5 gold coin in the US during that time period. Notice the massive spike in 1879.

It should also be noted that all this was going on after the Panic of 1873 which kicked off the Long Depression.

>> No.56120763

>>56119485
You are free to hoard as much gold as you want. What's stopping you? Why not just buy gold and come out ahead? From your take, this is the optimal play.