Returning to gold standard?

[markj113]

Will this help now when we have economic disaster?

Gold is the only actual value that it can do a monetary reset.
thaht's why all countries want buy gold (or retrieve it from other country).

monetary reset is already plan.

Do you know any ranking of gold reserves by country?

The top 40 countries with the largest gold (2015) reserves are here:

https://en.wikipedia.org/wiki/Gold_reserve

Source: World Gold Council.

Note that some of those gold reserves may be double-counted or otherwise in error.  China, for example, is rumored to have much higher reserves (in secret) than is accounted for on this list.

I sure everyone believes the US's claimed gold holdings too.

The last audit of Fort Knox was in 1953  and only 5% of the gold was permitted to be tested with no external experts allowed

[Cyaren]

The current fiat monetary system is highly unstable and will inevitably collapse. There is no doubt. So yes, either a gold or silver standard will be again adopted

[arbitrage]

Gold cannot be manipulated as fiat money!
Fiat was created to get your gold as same as LTC was created to get yours BTCs

[MatTheCat]

I sure everyone believes the US's claimed gold holdings too.

The last audit of Fort Knox was in 1953  and only 5% of the gold was permitted to be tested with no external experts allowed

Germany's attempts to repatriate it's gold from US Federal Reserve Vaults are even funnier.


Germany: Hey Fed, you have over 1500 tonnes of our gold, and we want some back.
Fed Reserve: Erm yeah...ok...here is 5 tonnes.
Germany: Eh wot, but we asked for 350 tonnes to be delivered before 2017!?
Fed Reserve: Erm yeah....but security procedures.
Germany: Ok, then we want to come and view our gold in your vaults.
Fed Reserve: Ermm......uhmm...you can't! Security Procedures.
Germany: WTF!? This is outrageous. We will send delegated officials to physically observe Germany's gold at the Federal Reserve vaults in New York!
Fed Reserve: Right Ok. They can come. They can look in one of the vaults. But they can't go in, and they can't touch any of the gold bars because of security procedures
Germany: WTF!? This is ridiculous.
Fed Reserve: Ok...urmm...ehmmm.....if they want to physically inspect the gold, then we will bring them a couple of sample bars, because of erm......
Germany: Because of 'Security Procedures'?
Fed Reserve: Erm...yeah! That's right. Security Procedures! That's good, we like that!

etc
etc
etc.


Beyond a shadow of a doubt, there are a whole bunch of individuals, institutions, and even governments in this world, who are not holding the volume of gold that they either believe, or state that they are holding. The exception to this rule might be China, who are holding a shit ton more gold than they state they are holding. When or if this fraud unravels, is another matter entirely though. Whilst nations like Germany may want it's gold repatriated, it would not be in their interests to acknowledge that the gold they have at the Fed Reserve is actually gone and/or doesn't exist and/or never did exist to begin with.

[Denker]

I sure everyone believes the US's claimed gold holdings too.

The last audit of Fort Knox was in 1953  and only 5% of the gold was permitted to be tested with no external experts allowed

Germany's attempts to repatriate it's gold from US Federal Reserve Vaults are even funnier.


Germany: Hey Fed, you have over 1500 tonnes of our gold, and we want some back.
Fed Reserve: Erm yeah...ok...here is 5 tonnes.
Germany: Eh wot, but we asked for 350 tonnes to be delivered before 2017!?
Fed Reserve: Erm yeah....but security procedures.
Germany: Ok, then we want to come and view our gold in your vaults.
Fed Reserve: Ermm......uhmm...you can't! Security Procedures.
Germany: WTF!? This is outrageous. We will send delegated officials to physically observe Germany's gold at the Federal Reserve vaults in New York!
Fed Reserve: Right Ok. They can come. They can look in one of the vaults. But they can't go in, and they can't touch any of the gold bars because of security procedures
Germany: WTF!? This is ridiculous.
Fed Reserve: Ok...urmm...ehmmm.....if they want to physically inspect the gold, then we will bring them a couple of sample bars, because of erm......
Germany: Because of 'Security Procedures'?
Fed Reserve: Erm...yeah! That's right. Security Procedures! That's good, we like that!

etc
etc
etc.


Beyond a shadow of a doubt, there are a whole bunch of individuals, institutions, and even governments in this world, who are not holding the volume of gold that they either believe, or state that they are holding. The exception to this rule might be China, who are holding a shit ton more gold than they state they are holding. When or if this fraud unravels, is another matter entirely though. Whilst nations like Germany may want it's gold repatriated, it would not be in their interests to acknowledge that the gold they have at the Fed Reserve is actually gone and/or doesn't exist and/or never did exist to begin with.

Great post and for the first part i had quite a good laugh.
Thanks for that.
Furthermore I doubt if the gold of Germany would still exist that it would ever get it back.
Reason why? Round about 50k american soldiers are deployed in Germany. The country is occupied.

[Drekavac]

Moving to a decentralized monetary system like Bitcoin would making moving to the gold standard irrelevant.  Gold is still relevant now as a safe haven against the dollar but if Bitcoin takes over gold will be a novelty.

I just can't believe this can happen.
Gold is still no 1.
Who have such power to do this? Bitcoin? No this is just software.
One catastrophic news tomorrow and bitcoin will be 1/2 of it price.

Gold don't has those problems..

[bargainbin]

... Whilst nations like Germany may want it's gold repatriated, it would not be in their interests to acknowledge that the gold they have at the Fed Reserve is actually gone and/or doesn't exist and/or never did exist to begin with.

Which only goes to show how fallible the gold standard is. Remember kids, it's the goldsmith who invented fractional reserve banking

In the past, savers looking to keep their coins and valuables in safekeeping depositories deposited gold and silver at goldsmiths, receiving in exchange a note for their deposit (see Bank of Amsterdam). These notes gained acceptance as a medium of exchange for commercial transactions and thus became an early form of circulating paper money.[6] As the notes were used directly in trade, the goldsmiths observed that people would not usually redeem all their notes at the same time, and they saw the opportunity to invest their coin reserves in interest-bearing loans and bills.

[uki]

I sure everyone believes the US's claimed gold holdings too.

The last audit of Fort Knox was in 1953  and only 5% of the gold was permitted to be tested with no external experts allowed

Germany's attempts to repatriate it's gold from US Federal Reserve Vaults are even funnier.


Germany: Hey Fed, you have over 1500 tonnes of our gold, and we want some back.
Fed Reserve: Erm yeah...ok...here is 5 tonnes.
Germany: Eh wot, but we asked for 350 tonnes to be delivered before 2017!?
Fed Reserve: Erm yeah....but security procedures.
Germany: Ok, then we want to come and view our gold in your vaults.
Fed Reserve: Ermm......uhmm...you can't! Security Procedures.
Germany: WTF!? This is outrageous. We will send delegated officials to physically observe Germany's gold at the Federal Reserve vaults in New York!
Fed Reserve: Right Ok. They can come. They can look in one of the vaults. But they can't go in, and they can't touch any of the gold bars because of security procedures
Germany: WTF!? This is ridiculous.
Fed Reserve: Ok...urmm...ehmmm.....if they want to physically inspect the gold, then we will bring them a couple of sample bars, because of erm......
Germany: Because of 'Security Procedures'?
Fed Reserve: Erm...yeah! That's right. Security Procedures! That's good, we like that!

etc
etc
etc.


Beyond a shadow of a doubt, there are a whole bunch of individuals, institutions, and even governments in this world, who are not holding the volume of gold that they either believe, or state that they are holding. The exception to this rule might be China, who are holding a shit ton more gold than they state they are holding. When or if this fraud unravels, is another matter entirely though. Whilst nations like Germany may want it's gold repatriated, it would not be in their interests to acknowledge that the gold they have at the Fed Reserve is actually gone and/or doesn't exist and/or never did exist to begin with.

Great post and for the first part i had quite a good laugh.
Thanks for that.
Furthermore I doubt if the gold of Germany would still exist that it would ever get it back.
Reason why? Round about 50k american soldiers are deployed in Germany. The country is occupied.

Yep, great post, MatTheCat.
Germany won't ever get that gold, for one simply reason. They don't have enough military/economic power to force the US to do so.
there will be endless bla bla talks, and the Germans will finally give up on that.
I also doubt that that gold is still in the US vaults. Probably sold long time ago to China.

[arbitrage]

I sure everyone believes the US's claimed gold holdings too.

The last audit of Fort Knox was in 1953  and only 5% of the gold was permitted to be tested with no external experts allowed

Beyond a shadow of a doubt, there are a whole bunch of individuals, institutions, and even governments in this world, who are not holding the volume of gold that they either believe, or state that they are holding. The exception to this rule might be China, who are holding a shit ton more gold than they state they are holding. When or if this fraud unravels, is another matter entirely though. Whilst nations like Germany may want it's gold repatriated, it would not be in their interests to acknowledge that the gold they have at the Fed Reserve is actually gone and/or doesn't exist and/or never did exist to begin with.

If you don't understand who rules the world, you must firs read this:  http://humansarefree.com/2014/10/exposing-shadow-forces-behind-nwo.html
Let's clear something, non existence of gold in Fortnox only proves theory US is heading to disaster. All that gold cannot vanish!?
Gold is taken from middle man and placed in Fortnox by force of law.
Through private federal reserve and banking system all that gold is stored on safe places..
all this proves only one theory GOLD WILL HAVE GREAT VALUE IN FUTURE!

[mrhelpful]

The gold standard has been long gone lol.

Unless you get the current president of 2016 to re-sign the bill on gold stealgull act again, it`ll remain the same.

I dont think it`ll ever come back, since the 2016 debates were mainly about border control and immagrants as main discussion and not about our monetary system. If it was proposed and it did pass the house - I still think it wouldnt be signed off due to bankers paid lobbyist.

[romero121]

People have good understanding over gold. This is the major reason why gold as a commodity is tied up with the amount of currency one can have in accordance to gold they can dig or possess.

[OROBTC]

...

I don't know much of the below, but I strongly suspect that these (below) points are true.  Further, that hardly anyone knows one way or the other, not any of you, not me.  All countries are secretive to one degree or other (for security reasons) about where their gold is, how it is transported, etc.  If you dig hard enough, you can verify what I write yourselves.

1)  Ft Knox probably DOES hold most of the ~8100 tonnes of US gold.  Most of it as 90% Au (coin melt).  This is our National Gold.  Smaller amounts are also held at the Denver, San Francisco and West Point mints.  A relatively small amount (400 tonnes or so) is held at the Federal Reserve Bank of New York (FRBNY), in the basement there in Manhattan.  

2)  The FRBNY mostly holds gold for other governments' central banks, although the FRBNY does hold the +/- 400 tonnes of US gold mentioned just above.  The FRBNY stores it for free.  The total is (was 2014 or so) some 7000 tonnes in storage.  Most of that gold at the FRBNY was sent to NYC after WWII when Europe was worried about a Soviet invasion (and losing their gold).  Germany has been taking some of it back, as far as I know, they made an Agreement with the FRBNY (possibly the USG as well) to take down their holdings to a lower level.  This Agreement is well-known, just dig!  Why the FRBNY?  Convenience for gold trading as well as safety from the ex-USSR.  Check out the FRBNY's brochure of their gold vault here: https://www.newyorkfed.org/aboutthefed/goldvault.html  They offer tours, but you have to book WAY in advance.  (I would like to go on the tour next time I am in NYC)

3)  Germany has not opened their gold holdings to public viewing, including the amounts they brought back recently from NYC (also some from Paris).  Their own experts are checking the bars.  (Koos Jansen is up on this, he is trying to get the bar numbers to see if they are EXACTLY what Germany sent over before, or other bars...).

In general, I would suggest that the Conspiracy Gold Theories are unlikely to accurately reflect reality.  "Yamashita's Gold" for example is complete hogwash, see Steve St Angelo's piece (Feb 8, 2016) here:

https://srsroccoreport.com/setting-the-record-straight-on-the-massive-gold-supply-conspiracy/

Wholesale gold holdings are kept quite secret for obvious reasons.

*   *   *

All of that said, it is possible, though highly unlikely, that the Ft Knox gold might be gone.  But to where?  How?  How would "they" move, say, 7000 tonnes in secret?  I used to work for a branch of .gov where we had to keep things SECRET.  And I will tell you that if 7000 tonnes of gold went "missing", LOTS of people would have known, and word would have gotten out.

"Three can keep a secret if two of them are dead."
-- Mark Twain


(Edited to correct mistakes)

[arbitrage]

Secret about gold is hidden behind wall of lies and disinformation.
Look at the story about UFOs 99% of all those news about are just scam, and people know that and don't believe in story about aliens..
Those rules from M. Twain time, cannot be applied today. In time of mass info revolution you can hide something only with massive disinformation!

[arbitrage]

Gold standard is best thing can happen to people if we don't think about bitcoin.
I think gold standard have greater chance to be revived, than bitcoin would be adopted by government..

[MatTheCat]

Gold standard is best thing can happen to people if we don't think about bitcoin.
I think gold standard have greater chance to be revived, than bitcoin would be adopted by government..

What makes you think a return to a currency system based upon an asset, which is every bit as cornered by a few 'whales' as Bitcoin is, is good for humanity?

From what I can make out from the history books, a gold standard meant some brutally hard times for the masses when the economy went in to downturn, and picking up assets for pennies on the gold backed dollar for the very few.

[bargainbin]

Gold standard is best thing can happen to people if we don't think about bitcoin.
I think gold standard have greater chance to be revived, than bitcoin would be adopted by government..

What makes you think a return to a currency system based upon an asset, which is every bit as cornered by a few 'whales' as Bitcoin is, is good for humanity?

From what I can make out from the history books, a gold standard meant some brutally hard times for the masses when the economy went in to downturn, and picking up assets for pennies on the gold backed dollar for the very few.

True, but the local captains of industry like Mr. arbitrage, the ones whoring out their signatures to dice sites for pocket change, are clearly the elite few, the Randian heroes, the 1% who'll profit.

[traderCJ]

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

Oh the irony   If anything has a socially constructed value, it is a cryptocurrency.  In this respect, it is very much like fiat.  What is the actual value of an entry in this distributed ledger we call Bitcoin?  It's anyone's guess.

[arbitrage]

Gold standard is best thing can happen to people if we don't think about bitcoin.
I think gold standard have greater chance to be revived, than bitcoin would be adopted by government..

What makes you think a return to a currency system based upon an asset, which is every bit as cornered by a few 'whales' as Bitcoin is, is good for humanity?

From what I can make out from the history books, a gold standard meant some brutally hard times for the masses when the economy went in to downturn, and picking up assets for pennies on the gold backed dollar for the very few.

First you must understand what is inflation and how was made. Only with gold standard we will have less inflation rates. because for creating more value to money you need more gold..more gold more mining.

With this system today we have enormous public debt!

You will see some brutal times when bubble of debt burst!

[arbitrage]

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

Oh the irony   If anything has a socially constructed value, it is a cryptocurrency.  In this respect, it is very much like fiat.  What is the actual value of an entry in this distributed ledger we call Bitcoin?  It's anyone's guess.

Bitcoin has potential and it's a great idea but have no chance to change anything in monetary system of the world.I'm afraid if governments wants, they gonna make payment system based on blockchain customized for their purposes.

[valta4065]

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

Oh the irony   If anything has a socially constructed value, it is a cryptocurrency.  In this respect, it is very much like fiat.  What is the actual value of an entry in this distributed ledger we call Bitcoin?  It's anyone's guess.

Yeah, the practicability.

Contrary to gold, btc can be send anywhere from anywhere.

You'll tell me same thing for fiat if they're based on gold that means gold (through fiat) can do it too.

Yeah but btc is based not on simple arbitrary assets as gold but on Hashing power. Which means technology development and power! Much better that an arbitrary noble metal no?