Thanks for the link which has several statements that are false There is not enough time to go into them but the link is misleading The macroeconomists at the Fed have no clue about what the gold standard means ie the establishment's position is that the current fiat currency is a viable alternative There are problems with this position 1 With egregious overspending over the last 5 decades with QE to bail us out when recessions hit eg 2000 and 2008 the dollar has lost 90-95% of its purchasing power since 1971 This has led to an inflationary spiral that the Fed will not be able to correct with fiddling with interest rates 2 Gold has no counterparty risk whereas the currency does which makes it a perfect standard for any currency 3 Western economies are currently in the largest debt/credit bubble in history and with the equity market responding as it is now with the tariff scheme this bubble is bursting and when people find out that their currency has no value what will follow will be a currency crisis Then the fiat currency fiasco will be exposed Obviously the Fed doesn't want the public to understand that the currency has no value and only spared scrutiny due to public trust or acceptance that it does have value
Gold only has a specified value if everyone agrees it does and trades it at that value. Its value fluctuates, too. The difference is that it is a tangible object no matter where it is mined, refined, stored, or traded.
The price of gold is a reflection of the dolllar's purchasing power The reason that gold is up is because the purchasing power of the dollar is going down and hence spiraling inflation Essentially gold is money with no counterparty risk Even though the price of gold fluctuates over a long period of time it holds steady with respect to the price of a barrel of oil
FWIW The GOLD STANDARD is unimprotant.
WIKIPEDIA explained:
https://en.wikipedia.org/wiki/Gold_standard
Thanks for the link which has several statements that are false There is not enough time to go into them but the link is misleading The macroeconomists at the Fed have no clue about what the gold standard means ie the establishment's position is that the current fiat currency is a viable alternative There are problems with this position 1 With egregious overspending over the last 5 decades with QE to bail us out when recessions hit eg 2000 and 2008 the dollar has lost 90-95% of its purchasing power since 1971 This has led to an inflationary spiral that the Fed will not be able to correct with fiddling with interest rates 2 Gold has no counterparty risk whereas the currency does which makes it a perfect standard for any currency 3 Western economies are currently in the largest debt/credit bubble in history and with the equity market responding as it is now with the tariff scheme this bubble is bursting and when people find out that their currency has no value what will follow will be a currency crisis Then the fiat currency fiasco will be exposed Obviously the Fed doesn't want the public to understand that the currency has no value and only spared scrutiny due to public trust or acceptance that it does have value
For good reading James Turk https://bit.ly/429h7WE
For good listening Alasdair Macleod https://bit.ly/4ltMaEe
Gold only has a specified value if everyone agrees it does and trades it at that value. Its value fluctuates, too. The difference is that it is a tangible object no matter where it is mined, refined, stored, or traded.
The price of gold is a reflection of the dolllar's purchasing power The reason that gold is up is because the purchasing power of the dollar is going down and hence spiraling inflation Essentially gold is money with no counterparty risk Even though the price of gold fluctuates over a long period of time it holds steady with respect to the price of a barrel of oil
For good reading James Turk https://bit.ly/429h7WE
For good listening Alasdair Macleod https://bit.ly/4ltMaEe