Gold to hit 38,000/oz?

In this podcast:

(1) I discuss what the price of gold will be if we go on a gold standard.

(2) I debate whether the leaders will peg gold to M1, M2, or even the debt.

1 comment to Gold to hit 38,000/oz?

  • Ant

    The assumption is we only have one precious metal and that we would tie our debt to the amount of gold that is in the national vaults. Don’t forget there is also silver, copper, platinum and palladium. It should not be called a ‘Gold Standard’ but a ‘Precious Metal Standard’ (PMS) which would prevent monopolies.

    It is my understanding that gold has been used as collateral to the fed. In addition, if we had a ‘Fractional Reserve PMS’ (FRPMS) banks would control most of the gold and make it worth much less than its true value. Would the US government be that stupid to hand over all of our precious metals to the fed reserve?

    The fed res. must be allowed to fail just like any other private bank. If that were to happen we would not necessarily be tied to the $38K/oz. In addition derivatives must go to zero and be illegal. Legal action must be taken against some bankers and politicians for their part in this nightmare.

    Gold could be reset to one day of labor equaling .10 oz of silver and 10 days work equaling 1 oz of gold. Not long ago in India you could hire a PHD for $500 per month (1/3 oz of gold). In the end the PMS is just a number tied to the extraction costs of a finite malleable resource. 1 oz of gold could be equal to 1 PMS (one unit of precious metal standard) and 1 oz of silver be equal to .1 PMS. [Sorry but I just realized I tied our financial system to the premenstrual cycle].

    We can either consider our world to be a prison or a paradise. Which will it be? It really is our choice.

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