and they now buzzing the idea of backing a new currency into paper gold..
LOL..those goons at comex been playing with the precious metals paper market
since decades.. a paper gold backed currency will be just as doomed as the
current currency we use...
--- Pada Rab, 1/4/09, EM WW <kinkym...@yahoo.fr> menulis:
Dari: EM WW <kinkym...@yahoo.fr>
Topik: Re : [ob] Fwd: Can anybody explain?
Kepada: obrolan-bandar@yahoogroups.com
Tanggal: Rabu, 1 April, 2009, 11:26 AM
It's all about our greed...
The gold standard limits the power of governments to inflate prices through
excessive issuance of paper currency.
In an emergency case, like one we are facing now, Obama could not just print
the money unless his country had sufficient gold reserves to back 'the money'
In 1966 (long time ago, in his full sanity state), Alan Greenspan supported the
idea of returning to gold standard.
-WW-
De : Putu Sudiarta <coolp...@gmail. com>
À :
obrolan-bandar@ yahoogroups. com
Envoyé le : Mardi, 31 Mars 2009, 16h02mn 19s
Objet : Re: [ob] Fwd: Can anybody explain?
Gold is not the only asset
Some list of asset, including concrete and abstract asset: gold,
silver, building, land, cars, share of company, ... and many more...
(everything that is precious)
All of the asset value can only be backed by something abstract: currency.
On Tue, Mar 31, 2009 at 1:46 PM, Cumi Cabe Ijo <cumie...@gmail. com> wrote:
> Can anybody explain why did we abandon gold standard in currency?
>
> WARNING: Cumi-cumi mengandung 1,170mg kolesterol per 10 gr, sedangkan daging
> ayam tanpa kulit hanya 50mg saja.
>
>
> ---------- Forwarded message
----------
>
>
>
> Can anybody explain, why do the USA, Germany, France, Italy, Spain,
> Switzerland have their reserves mostly in gold while China, India, Saudi
> Arabia only a small fraction?
>
>
>
>
>
> The USA only has 8,133.5 ton of gold. What will be the back up for their
> dollar printing? Military power (which can not even conquer the
> flip-flop-wearing Taliban) or their ability to tax their citizen (which now
> don’t have anything to be taxed)?
>
>
>
> If gold is priced at $900/oz and using 10 times fractional reserves, US’
> gold only translated to 8,133.5 ton X 32,151 oz/ton X $900/oz X 10 =
> $2,353,501,426, 500.00 or $2.3 billion. As of December 2007, There was about
> $829 billion dollars of U.S. currency in circulation; the majority is held
> outside the United States. That is 353 times bigger
than their gold
> reserves. Lately, the US want to bailout their failing companies by printing
> $700 billion. What will back this fiat money up? Only trust. Can you trust
> USA?
>
>
>
>
>
>
>
>
>
>
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