Actually I`m not aware of any country today that uses a Gold Standard...Lets go back to 1944 for a minute...when nations from around the world gathered at a place called Bretton Woods and that resulted in a agreeded upon method of "fixed" exchange rates and at that time the US Dollar replaced the "Gold Standard",thereby becoming the worlds reserve currency....As that played out the USD became the only currency to be backed by gold.Over the next two decades the US ran a series of Balance Payment Deficits,and there came a time by the early seventies that US Gold Reserves became too low to cover all the US Dollars that were in Foreign Reserves.Now enters Richard Nixon in 1971 and announced to the world that we {the US} would abolish that system.That eventually evolved to what we have today,which is actually three exchange rate systems.....Dollarization where a country actually uses the US currency as theirs,a fixed pegged rate to the US Dollar{some of the Caribbean Islands use a pegged rate}and of course the managed floating rate similar to what you see in the rest of the world.Governments that store gold today are primarily hedging...{I guess it would be wise to hold a certain amount in the event the wolrld goes to hell in a hand basket}..........
I noticed that the header in your thread has the word "victim"... From a guy that has had "more girlfriends than you care to remember",this sounds a little strange.Why did you choose that particular adjective to describe your situation?
True story Galrad.....When I drove up to the little shack that the border agent was in....He took one look at my license plate and said...Oh...I see you are from Arizona do you have any guns with you...I said no....he said do you own any guns? I said yes..He said ...where are they? I said at home in Arizona.He next asked me If I had any ammo with me...I said no,it`s at home too.He said ...you see that building over there ..and he pointed....I said yes I see it.He said drive your car over there and park in the lot and go inside and see the people at the counter.I did as instructed.I approached the lady at the counter and told her the guy outside wanted me to come and see you.She said ...let me have your car keys and passport.....I asked why..she said because we are going to search your car...So after about forty-five minutes a man comes in with my passport and says report to the guy outside and he will give you your keys. I asked them if they put everything back where they found it...he said...of course.....I opened the trunk and everything was topsy-turvy,same with the inside of the car.Obviously they did not believe a thing I said and they could care less about putting things back where they were in the first place. Welcome to Canada and enjoy your stay and don`t forget to spend lots of money while your at it.Just dont tell us you have no guns with you....we know you are a big fat liar and your pants are on fire.
Here is the reality of todays world.....{oil,not gold is the most sought after commodity} Give you one guess how oil is denominated.....Think about the answer to that and also when you come up with the answer also tell me what nation has the most poweful military in the world and at what lengths this country will go to ...to keep the status quo....I will also stipulate at this point that other countries are yearning and working as we speak to change that status quo....{we wont be there forever}...
I think the days of the US acting as the worlds reserve currency are fast coming to an end and as soon as that happens I suppose another country will step in to take over the roll.Pick your country or group of countries{your guess is as good as mine}As far as gold taking over...I kind of doubt that, as countries want to be in the drivers seat to manipulate,which would be very difficult to do if everyone was on the gold standard.Countries want to be in a position to repudiate their debt when it comes right down to it....and that ain`t happening on a gold standard.
mustbnutz Forum Posts (3,730)
RE: Two Words - Keep One the Same round 3
Good day