Returning to gold standard?

[arbitrage]

            Gold standard refers to a monetary system where the value of a currency is tied to the price of a specific amount of gold. The amount of money supply, then is determined by how much gold you can dig out.

What is your opinion do we have a time for this?
Will this help now when we have economic disaster?
Do you buying gold right now?

“Note that if all the gold in the world was melted down, it would fit in a 67 foot cube”

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[MatTheCat]

Buy Gold now.

Sell when 2 Oz of gold is worth 1 share of the Dow.

If Dow is 5000 and Gold is 2500, Sell your gold.

If Dow 10000 and gold is 5000, Sell your gold.


Don't delude yourself that the world is going to return to a gold backed currency, but do be sure that Gold will be a store of value long after Bitcoin has vapourised into thin air.

[rally]

Buy Gold now.

Sell when 2 Oz of gold is worth 1 share of the Dow.

If Dow is 5000 and Gold is 2500, Sell your gold.

If Dow 10000 and gold is 5000, Sell your gold.


Don't delude yourself that the world is going to return to a gold backed currency, but do be sure that Gold will be a store of value long after Bitcoin has vapourised into thin air.

Gold is something i didn't follow at all until now.
THanks for the info above.
The next days i am going te learn and search a bit more about gold.
Looks interesting.

[The Sceptical Chymist]

A return to a gold standard is completely unnecessary.  Money doesn't need to be backed by anything, it never did, and it's not likely that we're going to return to that sort of archaic thinking.  I do like precious metals in spite of this and I think they're a good way to store value.

[yefi]

Adopting Gold would mean adopting monetary discipline, so for that reason alone it will never happen. We would sooner burn in the sulphurous pits of hell than live frugally.

[kwukduck]

Ah yes Gold. Thé resource with amazing intrinsic socially constructed value.

[greBit]

A return to a gold standard is completely unnecessary.  Money doesn't need to be backed by anything, it never did, and it's not likely that we're going to return to that sort of archaic thinking.  I do like precious metals in spite of this and I think they're a good way to store value.

Yes this is completely unnecessary I think it's a plan to somehow keep the riches richer and poor poorer

[Greenenergy]

Going back to gold standards would mean the end of the inflation and the worthless fiat paper. Also, money from a country could be accepted in another pretty easily.

[Darkbot]

Don't delude yourself that the world is going to return to a gold backed currency, but do be sure that Gold will be a store of value long after Bitcoin has vapourised into thin air.

In that time, space mining makes gold not so rare anymore.

[n2004al]

           Gold standard refers to a monetary system where the value of a currency is tied to the price of a specific amount of gold. The amount of money supply, then is determined by how much gold you can dig out.

What is your opinion do we have a time for this?
Will this help now when we have economic disaster?
Do you buying gold right now?

“Note that if all the gold in the world was melted down, it would fit in a 67 foot cube”

Cannot be never so. Especially cannot be true the second sentence according to which the amount of money supply must be determined by the amount of gold is dig out. The amount of money in circulation in a country have nothing to do with the amount of gold dig out. Cannot be depend the economic life and first of all, the development of a country from the dig out of the gold. And if them who dig out gold make continue strikes (understanding that they work determine everything) in order to have increases of salaries? Without their work no dig out of gold, no increase of money in circulation, amount of products without being sell (no money), hundred thousand people without salaries (again no money) and in this way can continue with everything. And why this? Because must be back at the gold age which will disappear the actual economic disaster. But let leave for a moment all the above and forgetting the enormous debt existent in several developed countries where is the big disastrous crisis? I don't see unemployment increase in the main developed countries, I see increase or in the worst of cases stagnation of GDP in the majority of those. Very, very few are those countries who have not such parameters. Maybe the big crisis exist only in the posts of this forum.

[BruceLee007]

Buying gold is a great opportunity to do this and have some similarities in bitcoins and greater than governments money.

[NorrisK]

Don't delude yourself that the world is going to return to a gold backed currency, but do be sure that Gold will be a store of value long after Bitcoin has vapourised into thin air.

In that time, space mining makes gold not so rare anymore.

How do you suppose you get that precious gold to earth? Carrying weight to earth is going to be extremely difficult and costly. It may be easier to get it out of space than in to space, but any carrier needs to be sent into space costs about 25,000 per kg. Imagine a space pod to carry gold that needs to be sent into space and what it would cost, in addition to the mining equipment that needs to go there and the personnel. I don't think the gold mined from there would be worth the effort at the moment. Let alone any manned mission to planets or moons are very rare.

The gold supply should be very stable until those kind of problems are solved.

[afbitcoins]

Expect them to try and impose a global fiat currency before gold makes a comeback. Hint SDR's

The idea of a gold backed currency is great and in reality is it is much better than fiat because there is 'some restraint' on quantity of money. But it has its problems when trust is lost, everyone wants their gold and finds out its gone, then the system breaks down.

Best idea would be to forget backing it and use actual gold coins, although thats a bit barberous

However I do expect gold to be a good safe haven investment. don't risk it all on crypto

[afbitcoins]

Don't delude yourself that the world is going to return to a gold backed currency, but do be sure that Gold will be a store of value long after Bitcoin has vapourised into thin air.

In that time, space mining makes gold not so rare anymore.

How do you suppose you get that precious gold to earth? Carrying weight to earth is going to be extremely difficult and costly. It may be easier to get it out of space than in to space, but any carrier needs to be sent into space costs about 25,000 per kg. Imagine a space pod to carry gold that needs to be sent into space and what it would cost, in addition to the mining equipment that needs to go there and the personnel. I don't think the gold mined from there would be worth the effort at the moment. Let alone any manned mission to planets or moons are very rare.

The gold supply should be very stable until those kind of problems are solved.

Space mining. Please! We can barely get a man on the moon

[markj113]

Makes me wonder why Russia and China are litterally buying gold by tonnes every month all the while the West sells it for fiat.

Gold backed Yuan in the not too distant future maybe?

[afbitcoins]

Makes me wonder why Russia and China are litterally buying gold by tonnes every month all the while the West sells it for fiat.

Gold backed Yuan in the not too distant future maybe?

Reminds me of this

[markj113]

China's turn next?

[afbitcoins]

China's turn next?

snip

- He who has the gold makes the rules

[~Bitcoin~]

We all are aware that not every gold can be dugged out from the whole world so it is not fixed the limit of the gold we can have. But i am thinking about bitcoin standard rather than gold standard as 21 million bitcoin is the maximum that can be dugged out. 

[ahpku]

Adopting Gold would mean adopting monetary discipline, so for that reason alone it will never happen. We would sooner burn in the sulphurous pits of hell than live frugally.

Gold standard would be an anachronism, like those quaint Amish people with horses and buggies


Nothing to do with frugality.