Lmao, “tHe VaLuE oF GoLd Is FaKe” meanwhile supports fiat currency which is literally just paper we are being convinced is valuable because a bunch of rich assholes who need us to be subservient to them have told us these worthless pieces of paper are valuable.

You’re the one who’s thinking is logically flawed. If the golbal reserve currency of the world is no longer backed by gold then what incentive do the economies of any other countries have to back their currencies with gold which would just allow citizens and foreign nations to pilfer their supply with no resistance from the aristocracy. This allows them to eat their cake and have it to. Also its a logical fallacy to assume these billionaires have to get together and secretly collude. They have like interests and have no problem publicly saying the quiet part out loud at this point and just working together to ensure these interests are maintained. You’re a fool if you think anything more is needed than the converging mutual interests of some of the most extremely wealthy people ever to exist. youre naive.

Bitcoin is not backed by nothing and that idea just shows you have no clue what you’re talking about. It is literally backed by not just all the gold in all the gpu’s used to mine it by calculating the solutions to the cryptography based problems that validate the blockchain. But by all the other rare earth minerals used in these gpu chips as well as the massive amounts of energy used to sustain these processes. Bitcoin is a technologically sophisticated answer to modern currency. If you cant understand why its better than paper money and the current digital model used by banks across the world then you are hopeless. This is a quasi modern luddite perspective (contrary to popular belief the Luddites didn’t actually oppose technology they just opposed industrialization that would out them out of work) cryptocurrency exists for more than one reason snd really the whole idea that bitcoin is e is a farce now since LEOs have caught up with the technology. Monero is still difficult to trace due tonits ring signature feature but there are a plethora of positive features to cryptocurrencies. Its a distributed ledger that minimizes fraud among other benefits/features

something I have found with my years on reddit is that people who argue and debate by quoting everything they are responding too are douche nozzles who do this as so they can make their arguments seem stronger than they are. Its just a method of intentional aggrandizing. Also you choose to respond only to the parts of my responses that are easiest to attack while ignoring the solid concepts behind my overall argument.

When you break my argument down to mathematical analysis the proof is in the pudding. The increase in US national debt since 1971- $400 billion to 36.2 trillion or 9050% vs the increase in the price of gold since 1971- $35 to $2900 as I currently type this or 8300% thats within a ≈7% margin of error. it doesn’t matter what you say especially since you’re just choosing to believe liars who have enriched themselves by defrauding the working class

Immediately going back to the gold standard would not fix 54 years of disastrous economic policy that has devalued money to this point. We would need to make it illegal to hoard wealth, seize the assets of the 1% in America and redistribute at least half their wealth leaving them with on average $5.5 million each and giving 337 million Americans $69,500 each (which would be more once you figure in children and dependents) that is what the 43.5 trillion the 1% are hoarding could do and that $5.5 million on average left for each of these 3.4 million wealthiest people is more than generous.

The reason no country currently backs their currency to gold is primarily because central banks control all the currencies in circulation and these are ultra greedy institutions that want to eat their cake and have it to. Its not that difficult to understand. Switzerland was the last country to abandon the gold standard in 1999. They also have one of the largest gold reserves on the planet and are one of the wealthiest countries in the world per capita. Just because no currency is directly tied to gold in any official capacity does not mean the value of all currencies is not still intrinsically tied to gold. You can still trade currency for gold obviously but when the gold standard was in practice banks and official financial institutions by law had to produce the equivalent amount of gold upon demand whenever a citizen (or foreign entity) presented the currency and demanded to convert it to gold. Ending the gold standard was an intelligent calculated strategy for the us economy when it did so because after doing so and refusing to pay out the debt held in us reserve notes by other countries they could as i said eat their cake and have it to. Now They could print the rubber money out of thin air and would no longer have to suffer any loss of their gold reserve when other nation states demanded the US pay the debt they owed in gold because they no longer had to oblige to those demands. The value of gold didn’t just go up because we ended the gold standard it went up because when we ended the gold standard we began printing paper currency irresponsibly and acquiring foreign debt faster than ever and did so with reckless abandon for the last 54 years and now divided up evenly between every American we owe just over $105,000

I think you’ve really misinterpreted my words into thinking that I have said “we need to immediately go back to the gold standard” that is not feasible. Slowly transitioning back to the gold standard would make some bit of difference but would take a monumental effort that would be far more difficult than what FDR did when he temporarily suspended the gold standard some 90 or so years ago buying up the majority of the gold supply in the us to store at the newly built fort knox and then revalued gold to almost double its price overnight which intentionally caused inflation. This made it so that more money could be printed while minimizing the inflationary impact that would be caused by just irresponsibly printing money out of thin air to fix the mess made by wall street banks. Fdr foresaw what has happened in the last 53 years happening much sooner due to the great depression as citizens were already starting to hoard gold after the banks crashed and were less trusting of the us dollar but this didnt cause any rapid inflation because the wealthy were hoarding the bank notes since they were just as good as gold at the time. It did wreak economic havoc in other ways such as extreme unemployment levels and homelessness. Weve seen poctures of the central park shanty town houses and breadlines of the time. but fast forward to the inflation we are seeing now and the us dollar either needs to be deflated intentionally, or we need to start from scratch entirely adopt a new national currency potentially by developing a new blockchain based stable coin or just adopting bitcoin. (Before you go and knock bitcoin you need to understand banks have digitized currency already and that blockchain technology is a far superior model when compared to the digital representation of currency that almost all banks have used for the last 3 or so decades, if goldman sachs and all the other wall street banks were correct in their public sentiments that bitcoin/crypto currencies are illegitimate Ponzi schemes then they would not also be investing billions behind the scene to develop their own blockchain technology to replace their current digital ledger systems) What we need is a radical solution and just going back to the gold standard isn’t it. We are well beyond that. One thing i can say would help is to outlaw the domestic influence of foreign international central banking institutions which have been opposed by several presidents most notably Abraham Lincoln and John F Kennedy. Lincoln himself said “I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe.“

The numbers i had previously quoted on our national debt increase were only estimates. I just checked and in 1971 our total national debt was $400 billion and today it is $36.22 trillion so that is in increase of 9000% compare that to the 8400% increase in the value of gold since we ended the gold standard and it speaks for itself. Consumer price index inflation models are used because they intentionally downplay the scope of the issue. As i said already cpi does not account for the devaluation of a currency due to the increase in circulating currency supply. Gold has already gone up another $85-90 since i last checked to $2944 an ounce. Rents are definitely going to rise as a result. Near me in providence Rhode Island 2 bedroom apartments in the neighborhood i grew up some 15 blocks from brown university are now unaffordable at $2700-3000 a month. Even 14 miles outside the cityin some of the more poverty striken areas you are looking st $2300-2500 a month. For a 1 bedroom which were about $700-900 just 6 years ago you are looking st $1500-1600 today. I just had to move out of an apartment last year that we were renting for $825 because the slumlord was selling the property and the new owner wanted $1500 without doing any improvements on the property or individual unit. Back in 2011 i rented a 2 bedroom 2 floor townhouse in providence about 3 miles up the street from brown for $900 and that same apartment today is $2800 but state minimum wage is barely 50% higher

But yes just going back to the gold standard would not be a feasible solution to the extreme inflation and austerity the American working class have been saddled with. Something radical needs to be done since this reality has been ignored and outright obfuscated for the last 3.5/4 decades which is about when it became a real problem. But we have gone from snowball to avalanche in my 35 year lifetime and unfortunately i only see it gutting worse. Gold will likely be $4200 or potentially higher by the time trump leaves office. Last time he took over the oval office after obama gold spot price was around $1200/oz and it peaked at $2050 when trump left it was $1950 so that’s approximately 66% increase which is just a little less than the increase seen under the bush administration.

I dont have the answer for what to do unfortunately. I just see the signs. Maybe my ideas for repairing this could mitigate some of the mayhem that has resulted but i can say for sure the direction we are headed with MAGA and even the direction we would have been heading with Blue Maga would both be the wrong directions. The former more so than the latter. What we need is a proletarian revolution and an end to class dictatorship. We have a kakistocracy , which is a government led by the least educated and the least capable among us. And we need the opposite of that. We need a meritocracy where one’s achievements and level of success are not measured by how ruthlessly they exploit those beneath them and how much wealth they can amass and hoard. But unfortunately those in control will die before they relinquish their death grip of power to maintain the exact opposite system of what we need as a society.

I do not intend to be insulting or adversarial but sometimes we need to just realize that what is needed is to think outside the box and reject those who continue to feed us the everything is fine narrative while we are sitting inside a building thst is clearly burning while the temperature increases and the sweat beads off our forehead. There have been more than enough red flags to suggest that wall street, the IMF world bank and the propaganda outlets masquerading as journalistically integrous institutions making excuses for the former are anything but. Sometimes the most basic questions that others consider childish and dumb can provide a perspective that is both refreshing and borderline ontologically shocking.

No there is no conspiracy against the gold standard and if that is what you think i am saying then your assessment of your own intellect is extremely overinflated.

There was however a concerted and successful effort to intentionally devalue the us dollar to eradicate the progress made by the civil and labor rights movement from the 40’s to 60’s as well as the new deal FDR policies all of which allowed the working class in America to briefly experience unprecedented prosperity. In the 50’s 60’s and early 70’s the bottom 90% had an 80% share of the wealth and that wealth distribution has since flipped almost upside down with the top 1% owning 63% of the wealth or 43.5 trillion that we can directly account for. Shift that group to the top 10% and its 74% of the wealth leaving 90% of americans fighting for 26% the bottom 50% have a less than 2% share. We are being paid table scraps even those making $250k a year are getting peanuts. Meanwhile people like you who are undermining / attempting to discredit what i am telling everyone else are actively working against the interests of the working class. You are a class traitor wether by explicit effort or your own ignorance the result of your resistance to accept what i am telling you is the same either way. Edit: It seems that I have misquoted the wealth share. The 63% owned by the 1% is actually the percentage of new wealth they have taken hold of since 2021. right now what I can find is that the top 10% own a collective 71% of the wealth with almost half of that, 30% (43.5 trillion) to be exact owned by the top 1% and the bottom 170 million people have a 2.5% share of the wealth.

Minimum wage Americans are paid less than what it cost to purchase and maintain slaves for the 30 years average lifespan of typical enslaved humans before slavery finally ended sometime after the emancipation proclamation.

But go ahead keep believing that if you work hard enough and show initiative and make it to a salary equaling $50 or $100 an hour that you have made it buddy. You are clueless.

People thinking that cutting out holocaust remembrance shows antisemitism but are not seeing the bigger picture here. Especially with the ADL defending musk’s blatant fascist salute this is in line with the agenda of zionism. (Which is in and of itself antisemitic towards Palestinians/ arabs in the levant who are all semitic peoples) Considering that zionists campaign to use the holocaust as a carte blanche for them to commit ethnic cleansing and genocide against arabs has failed and instead become their most contested and valid criticism of zionism in that zionists are perpetuating the same atrocities against another ethnic/cultural/religious group it will benefit the zionists greatly to remove holocaust remembrance from the conversation so that future generations will lack the education and understanding of the past and lack the ability to analyze and criticize the actions of the zionist regime. Whos greatest ally has ow effectively transitioned from skin deep fascist apologia with plausibly deniable motives to a straight up blatant fascist / corporatist regime actively covering up and suppressing the criminality of their zionist enabling motives

Ill just barbecue him in gasoline after we smoke some of that hillbilly crank.

GtaV

I have expressed my argument concisely you just keep moving the goal posts and clinging to the idea that institutions that have defrauded the American people as well as the world are trustworthy which is laughable. Also if you look hard enough you can find that these institutions are lying and occasionally say the quiet part out loud. This is a wall street owned legacy media outlet saying that for a family of four to have a comfortable life requires an income that equals about 60 to 95 ounces of gold annually depending upon which state that family lives in. https://www.cnbc.com/amp/2024/04/20/the-income-a-family-of-4-needs-to-live-comfortably-in-every-state.html

But go ahead and keep believing the liars who have bought our political institutions and representatives. Who tell us that minimum wage would be around $24/hr if it had kept up with inflation since 1970. that is so laughable $24 an hour even before taxes is garbage and not even worth getting out of bed for. I used to be able to barely afford rent back in 2011 for a 2 bedroom in an ivy league college town it was $900/month at the time. The SAME apartment today is $2450/month so that $24/hour which is $960 before tax deductions is fucking garbage. The poverty line hasn’t been adequately adjusted in decades and federal minimum wage is 16 years without adjustment and it’ll be 20 years after this disaster of an administration sinks the country further into fascism. But i bet you also disagree that america is fascist regardless which party is in control even though as benitto moussolini said fascism would be more appropriately called corporatism since it is the consolidation of corporate power and the state.

We live in a society where the majority of people are totally blind and dumb to reality. The news actively undermines the best interest of the people and works to minimize any unrest/ discontent in the population with distractions and out right lies. They actively use psychological warfare against us and people like yourself just keep on parroting delusional nonsensical takes that everything is fine and people who are sounding the alarms are just over reacting. There is no left party in the usa there is a far right and a center right pretending to be the left. We live in a class dictatorship and any idea that the news outlets and financial institutions shaping the social discourse have any credibility is a farce.

You can just say you’ve lost the argument and or given up instead of trying to exude superiority in your failed points by attempting to say too many words/ a verbose detailed argument somehow lessens the strength of my arguments. Its like saying einstein’s mathematical formulas were somehow wrong because there were too many variables and functions / too complicated couldn’t make sense of it 🤣

just say you give up and consider your arguments are just nonsense you’ve been conditioned to believe by people who would literally still own slaves if it were still legal (actually they still do in more ways than one) but if you believe what wall street economists tell the general public then you probably also believe that corporate news outlets are credible journalistic sources and the US is a bastion of true democracy which we spread across the globe using the friendly persuasion of a highly armed industrialized military apparatus.

You mean the Nobel Prize committee? The same people who gave Obama a war mongering neo liberal fascist the peace prize for all those peaceful drone bombings he ordered? Yeah they are really fucking credible, about as credibke as the ADL when they said elon musk didnt blatantly do a fascist salute in front of all the white nationalists sycophants at the Trump inauguration.

Economics isnt a real science, i just aced the first few quizes of economics on khan academy to see how much science is involved and my suspicions are correct. Econ is just bullshit that aims to solidify the ideas that free markets are good and have done such a great job of adequately distributing resources in a society and socialism is the devil so lets all just bend over and let billionaire central banking military and prison industry profiteers tell us what color the fucking sky is and ignore our basic senses.

Here is the basic reality, money isn’t real, its paper we all have been indoctrinated to believe in its value because it benefits the wealthy who wxert their capital to exploit large swaths of labor so they can live in opulent luxury at our expense. they use violence to enforce this system at our detriment, gold is real, silver is real, but silver is highly undervalued right now and has been for the last 25 years at least and gold is the only commodity that has proportionally increased in value when compared to the reckless over printing of currency and accumulation of national debt on the us dollar. Your arguments amount to “nah ah, the super credible people who tell us what to think don’t agree with you even though their actions support what you’re saying we should just trust our merciful aristocratic overlords and trust their plan for our dwindling future prospects and ignore the borderline austerity conditions in the usa today becasue so long as cheap consumer goods fill box stores and billionaires are buying more yachts then we can claim the stock market and subsequently the entire exonomy are booming never-mind the un affordability of rent and housing, decades of wage stagnation and 60% of workers living paycheck to paycheck with no emergency savings. Also the large stores of gold these governments and financial institutions have stockpiled solidifies my point, if the value of money was based upon the money itself and the trustworthiness of the government printing that money then they wouldn’t need to stockpile gold they would just print more money but its a fact that the more money you print the less value each bank note holds and the more the price of gold increases in perpetuity as the circulating currency supply increases.

Also less than 11 tons of gold you just mentioned out of the estimated 212,000 tons currently above ground is barely 5% of the supply, so this is not what is pushing the price of gold to balloon 8200% in the last 53 years. But keep on trusting central banking institutions who have defrauded entire economies multiple times with no consequences what so ever. Its like thinking the pack of hungry wolves outside your door are begging to be domesticated or thst you have a real interpersonal connection with the stripper you just paid $400 to grind over your jeans.

Economics isnt a real science it is a school of thought the purpose of which is to defend the mechanisms of exploitation and cruelty that are inherent and celebrated within capitalism. And it doesn’t matter what economists tell us on corporsre owned propaganda news outlets what matters is that wealthy people consider gold to be an inflation proof store of wealth and a hedge against inflation. When the price of gold increases the dollar weakens. Cpi is an inadequate measure of inflation because as i said earlier it does not account for the devaluation of a currency due to the increase in circulating currency supply. Are you telling me that tbe increaae in currency supply and the us debt increasing over 72 times in 54 years isnt right on the money with the increase in gold price? Are you that bad with basic arithmetic?

For the first 172 years of the US dollar as a standardized currency from 1799 till 1971 the price of gold was solid at $18-19 announce until after the great depression when FDR temporarily suspended the gold standard and made it illegal to hoard gold in bulk and bought up as much of the supply as possible at $18 an ounce before revaluing it at $35 an ounce. So thats a 94% fluctuation in 172 years compared to today in less than 33% of that time since 1971 its at 8200% and a months rent for a decent 2 bedroom in a decent area has always been around an ounce of gold.

And that wide swing shown in red on that graph was caused by the new credit based policies where stocks were sold to snyone with only 10% of the purchase price in liquid which was the main cause of the great depression. Pretty similar to the NINJA loans that fueled the MBS sub prime housing loan situation that wall street committed fraud to try to stave off before it crashed in 2008 an awful situation our economy still hasn’t recovered from. And you see that red stopped after FDR instituted quick action to save thebus dollar as i mentioned above. Another factor that caused the great depression was the stock buy ack which fdr outlawed and wasnt again relegalized till the reagan administration which normalized the blatant theft of surplus labor value and exploitation of the workers so that all the surplus value could ve funneled back into stocks to artificially increase the value of shares and trigger massive executive bonuses and shareholder dividends without adversely effecting the share value after those dividend payouts.

Silver was used but gold was more valuable and sought after so this is the equivalent of saying that $5 bills were the main form of currency because a majority of people were too poor to have larger bills. The first record of Gold coins was in egypt circa 1200 bc and 600 years before silver coins became more common.

Gold backed currency was abandoned globally because of central banking dominance and since we’ve transferred to elastic currency weve seen hyper inflation in the usa that we are being lied about in regards to. Rent for a 2 bedroom apartment has gone from between $30-50 a month to $2200-2500 a month in just 54 years so please tell me how its a good thing to just print valueless trust me bro money out of thin air with nothing but the trade of a commodity that is burned for energy backing it. Also the petro dollar was a last ditch effort imposed by the isa with help from saudi royals and OPEC To ensure thst the us dollar wouldn’t tank even harder than it has due to ending the gold standard so we didnt have to make good on our promise to convert all us bank notes to gold upon the demand of any country or person who had the us reserve currency.

If gold backed currency was so bad then why was inflation before we abandoned the gold standard and started printing money faster than nudie magazines

Here is a quote on the gold rush inflation you speak of that says youre point is pretty much bullshit. This inflation was limited to gold mining towns and close by areas where some miners became huper wealthy and those loving around them sought to profit off of their newfound wealth by arbitrarily increasing prices. Wages went from $3-5 a day to upwards of $12-16

“Although the short-term impact of the Gold Rush included inflation and a reduction in the dollar’s purchasing power, the long-term benefits were significant. The wealth generated by gold mining helped stimulate investments in businesses and infrastructure, laying the groundwork for the industrial growth of the late 19th century. The broader U.S. economy eventually absorbed the increased money supply, and as production expanded, inflationary pressures eased.

By the late 1850s, the dollar’s value had begun to stabilize. The rush’s economic growth, particularly in the western states, helped balance the inflationary pressures of prior years. Wealth generated during the Gold Rush further contributed to the westward expansion and development of the economy, providing the financial foundation for future growth.

As gold reserves increased, the U.S. Mint had more flexibility to mint coins and issue currency. However, the increase in gold posed challenges in maintaining stable prices as inflation rose along with the expanded monetary base.

Despite this, the increased gold reserves eventually paved the way for greater stability. Gold became a cornerstone of U.S. monetary policy as the economy grew, providing the stability needed for continued economic expansion.”

The gold standard was a far superior economic model for currency than the current system which sees regular increased inflation that is intentionally downplayed by leading financial institutions in an effort to prevent fomenting societal unrest/ discontent and resulting socio-economic / political violence from the working class.

That is 100% incorrect. Compared to paper and cotton gold is scarce also the diamond market is manipulated by debeers and some other players and the gold market is not the only thing limiting how much gold is available is how fast it can be mined and processed. And that is not easy tk do otherwise we would all be panning rivers for as much as possible instead of working garbage wage slave jobs

Gold was the first currency, paper currency is a replacement, up till nixon withdrew from the bretton woods agreement and then subsequent administrations made a shady dealmwith the saudis and opec to make the USD be the only currency accepted to buy crude oil which solidified in 1979 right before we printed the first trillion in 1981. But if it werent for that one strategic move which changed the playing field of currency as we know it then the us dollar would have tanked harder than the titanic and worse than it has in the last 54 years

Platinum and paladium arent gold though. You cant hammer either into paper thin layers or mold it and separate it with minimal tooling like gold. These are different metals with different properties.

But without the whole fabrication of the concept of a petro dollar then the us dollar would not be the global reserve currency today and that would have 100% been due to the fact that we ended the convertibility of paper money to gold in 1971 which was brought on by the us acquiring a massive debt before 1971 due to awful conservative policies and the countries who held this debt began trading it in for gold so the us governemnt did what they could to not loose what little they had left at the time.

If the value represented by paper currency isnt representative of golf then what does it represent besides thin air and the promise of those who regularly commit fraud with impunity?

This is a room temp iq take. But whayever helps you sleep at night.

Basically you are saying the valuable metal that makes the glowing screen in your hand function and has limitless technological and industrial applications isn’t worth the arbitrarily valued pieces of cotton paper we print faster than an army of rabbits shit and breed and are only deemed valuable because wealthy people who treat laborers like disposable cattle and engorge themselves on industries literally propped upon fraud tell us that those paper notes are valuable….

Sure buddy what ever you say. If i had to choose to follow “the doomsday prepper idiots” who have amassed arsenals, and stockpiles of ammunition valuable currencies that will outlive any paper fiat currency and all the other commodities needed to live or the group of people laughing at them when shit hits the fan, im definitely going to be following the former while you all shit your pants and beg the “idiot preppers” to let you followed them while you have nothing to offer of any value.

Keep trusting billionaires considering it has gone so well For us this far……

Not true. It is a metal with extremely specific properties. It is resistant to tarnishing and oxidation and it is incredibly malleable. Gold can be rolled and thinned out to a layer that is translucent which is what they do to cover the glass on astronauts helmets and provide more protection to UV radiation. Gold has now and for the last 70 years had numerous applications within technology. There is a reason gold is expensive and it isn’t just because its shiny and yellow and a status symbol. It is because it is a very unique and useful element.

Because it’s price increases in tandem with the increase in circulating currency. The rich look at us like we are disposable and not intelligent enough to understand things like this. But the rich all consider gold to be a safe haven investment that is virtually inflation proof. It retains its value. Gold is the one commodity who’s price increases in direct relation to the amount of currency printed into circulation