U.S. States Push to Bring Back Gold Standard

More than a dozen states have introduced laws to recognize gold as legal currency. If the bill gets the governor’s signature, Arizona will be the second state to legally consider gold as legal tender. Supporters of going back to the gold standard say the system is preferable to the Federal Reserve and Ben Bernanke’s monetary policies. On the 80th anniversary since the Gold Standard in the U.S. was abolished, RT Correspondent Liz Wahl reports on the rush get back to gold.

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Khannea Sun Tzu Von Thorne–ŻytkowAllen VestalthelightwithinsaintⓋearthtonyotag Recent comment authors
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Allen Vestal
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Iran is selling refined products on other currencies and plan to sell crude in other currencies. This is economic warfare. We cant tell the public we have to invade a country because our dollar is weak (they dont even know about the petrodollar) but Americans are uniformed and easily manipulated so they will accept the war against Iran. Iran has top of the line Russian Sunburn anti ship missiles. This will end badly.

Khannea Sun Tzu Von Thorne–Żytkow
Guest

Money did appear out of nothing for Vikings. Just happened, they went to another country and *poof* they had sacks of money.

ymkamara420
Guest

"The moment the whole world distrust USD's policy, you better hope that your nearest store shelves won't get empty." That is why most nations are buying more treasuries. Please google "MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES (in billions of dollars)HOLDINGS 1/ AT END OF PERIOD" I love in a pretty upscale neighborhood so I don't even own a gun.

ymkamara420
Guest

I did answer your question you child.

ltmikepowell
Guest

There are Americans that got out from the USD and put their money into golds, silvers and agriculture products. Those are REAL money. Seriously, I pray for your neighbor's safety should currency crisis finally happens.

ltmikepowell
Guest

I don't get your logic here, if nations don't trust the U.S. bonds then why they buying more? No one is brave enough to commit is kind of economy suicide for free, especially a suicide for the imperialists.

ltmikepowell
Guest

Are you trying to say that stealing and robbing from others is the right way to do?

ltmikepowell
Guest

At least the Iranians knew the real value of USD, that's why they don't want this blood money to taint their vault. And the reason why most Americans won't know the facts is because of their education system that NEVER teach the truth of their own money. I could be wrong but perhaps they might not even tell the students that barter is another form of money.

ltmikepowell
Guest

Oh yes, I'm a big fan Russian anti-ship missiles. I really wish my country got some of them in their arsenal. Although might not as smart as the Yakhont/Brahmos series, the Moskit or Sunburn anti-ship missile is still a lethal foe.

Khannea Sun Tzu Von Thorne–Żytkow
Guest

No I am trying to say that this is pretty much what US has done for the last few decades.

ymkamara420
Guest

No dumbass You don't understand sarcasm. read that again slowly

Allen Vestal
Guest

Iran has the Yakhont but have no reason to waste longer range missiles in the bathtub of their Gulf. Launch to target time of the Sunburn is less than a minute and the deep water channel is only two miles wide so not much room for evasive maneuvers. The HMS Daring claims they can shoot down anything and few of our ships have been upgraded to SEARAM but that has never been tested against the Sunburn. I am sure we will find out soon enough because the people in charge are crazy.

thelightwithin
Guest

my jewish prof taught me in economics class "INTEREST IS GOOD"

he was looking at me (im muslim), i was looking back and laughing, because I know the word of God

2:275 THOSE who gorge themselves on usury behave but as he might behave whom Satan has confounded with his touch; for they say, "Buying and selling is but a kind of usury" – the while God has made buying and selling lawful and usury unlawful.

..it will be for God to judge him; those who return to it-they are destined for the fire,

thelightwithin
Guest

sad state of usa caused by going against Allah word

3:130 (Asad) O YOU who have attained to faith! Do not gorge yourselves on usury, doubling and re-doubling it – but remain conscious of God, so that you might attain to a happy state; –

thelightwithin
Guest

God will punish them, already destroyed their supposedly great money empire

4:161 (Asad) and [for] their taking usury although it had been forbidden to them, and their wrongful devouring of other people's possessions. And for those from among them who [continue to] deny the truth We have readied grievous suffering.

thelightwithin
Guest

Quranic knowledge explains way to prosperity is not from debt based capitalism

30:39 (Asad) And [remember:] whatever you may give out in usury so that it might increase through [other] people’s possessions will bring [you] no increase in the sight of God whereas all that you give out in charity, seeking God’s countenance, [will be blessed by Him: for it is they, they [who thus seek His countenance] that shall have their recompense mul­tiplied!

ltmikepowell
Guest

At least Viking brought tradings and opened the trade route to the land of Middle East. Back at that time, it's the eastern nations in Middle East and Orient regions that got the money.

ltmikepowell
Guest

Warfare is always base on deception, development and ingenuity. This is a few things that most of the time the imperialists and elitists will not put into consideration since arrogance and narcissism is part of their nature.

Well, we'll see that claim in the future. Let's hope they won't fail, because if they do, they'll lose many investors in their defense markets.

ltmikepowell
Guest

In my country's McDonald's, it'll only cost you around MYR 6.00 or more for a lunch time value meal (with time limit that is). And I spent around MYR 15.00 for 3 pieces of chickens combo meal in Church/Texas Chickens. Although, you can just spend around MYR 40.00 to 50.00 for a Dim Sum buffet. Or maybe a plate of Won Ton Noodle will cost you around USD 1.50 depends on the location.

saintⓋearth
Guest

Fascinating. You should do a study on the best tasting value for best nutritional punch.

ltmikepowell
Guest

What happen if the depositor still insist to have his/her 50% of the cash? DO NOT tell us you take the money and run away. If you do, you won't live for long should the angry depositors found you somewhere.

ltmikepowell
Guest

Do you mean, fruit punch?

ymkamara420
Guest

They take it from another account and give it to him. Also all deposit are covered by depositors insurance so if push came to shove they could get it from there. Any more dumbass questions?

tonyotag
Guest

Perfect competition = zero economic profits for everyone; that is the reality of restricted monetary supply as China and other greedy nations want what was created here in America: an accurate constitution (up to Amendment 10). even in China and their currency plans are having downward GDP growth year over year.
I propose a pluralistic currency system (no illegal currency or bad tax payment system.)
End monopolies and oligopolies = end the tech and institutional structure embargo.

ltmikepowell
Guest

And how much the depositors insurance can cover? What happen if that insurance cover LESS than what the depositor wanted should the bank failed? And who take it from other account, care to explain?

ymkamara420
Guest

Dumbass you seem not to understand the most basic concepts of banking. Millions of people loan their money to any one bank. If one customer wants half of their money back, the back could easily give it back to him. The standard is 250,000 for depositors insurance but that can range as well. FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC began operations in 1934, no depositor has ever lost a penny of FDIC-insured deposits.

ltmikepowell
Guest

What happen if the government is the one who destroyed the investors and savers faith? What happen if FDIC don't have enough money to cover the depositors' request should bank run happens since it's THE Achilles Heel of the fractional reserve banking?

ymkamara420
Guest

"What happen if FDIC don't have enough money to cover the depositors' request should bank run happens since it's THE Achilles Heel of the fractional reserve banking?" That is impossible. What to know why? Because the FDIC is backed by the government. And guess what the government can create? … Dollars.

ltmikepowell
Guest

Read your currency and it wrote Federal Reserve Note. And perhaps you should do some research regarding who's the one that made this Federal Reserve Act.

Remember Tequila Crisis? The Mexican government PROMISED that the currency and the savings are safe. Yet a few days later, the peoples lost their purchase power due to currency devaluation. All wise savers and investors don't trust government's koolaid.

unhealthycarrot
Guest

The housing bubble was diminished because the money was liquidated, you can tell Weistbrot isn't informed at all about this issue.

Scottish Gold
Guest

Go back to the gold standard. Then the Wizard of Oz (Ben Bernanke) can't stand behind the curtain, pull knobs (electronic entries) and pretend to make more money out of thin air. Turns out it wasn't real.

Savannah villasana
Guest

the feds dont want gold and silver becuse the government wold have to bring back jobs like manufacturing in order for we the people to pay a tax. money will have to be earned
and if you have money they cant control your life. they just want to print out money from thin air. thats why the feds dont care if there is no jobs they can just print the money and live a good life. somthing for nothing what a great deal. 

Brad Hudson
Guest

Who was the retard that took us off the Gold Standard??? "I am not a crook guy" whose short term decisions have caused our money to be worth SHIT. Do the math…

GG SAY
Guest

2017 and yeah Russia devalued Its currency twice in 2014, economy is staggering riches getting richer, poor is always poor.

Rob F
Guest

we are exporting our inflation

Mark Fischer
Guest

Gold is a stupid substitute for real money. The quantity of gold in the world is limited, the potential quantity of created material wealth isn't. If a small island of primitives discovered they were sitting on a mountain of gold, should they become the wealthiest people in the world? Of course not.

some body
Guest

Of course the economist that say it's bad we know work for the fed they've been devaluing the dollar for 100 years to bring in Obama and then the final nail Hillary but Trump is president now