They're so arrogant they are incapable of considering the possibility of their own plans failing.
Texas would hold gold backing the currency
- Thread starter Hobo Hilton
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Things to consider:
tldavis.substack.com
Damn You All!
If this were a war we would be mobilizing our forces to deny the implementation of a Central Bank Digital Currency (CBDC), or, at a minimum, require any such currency to be accompanied by an alternative cash currency option backed by gold, silver or other precious metal, perhaps a metal...
tldavis.substack.com
This would solve 99.9% of the political and financial problems of the country and take away the conflict of interest that is non governmental central banks, debt based currency, fractional reserve banking and private control of the currency. But if it's too good to be true, it probably is.A blind man could see this coming:
Bills introduced in the Texas House and Senate would create a state-issued, gold-backed digital currency.
Enactment of this legislation would create an option for people to transact business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money and create a viable alternative to a central bank digital currency (CBDC).
Texas May Launch Its Own Gold-backed Digital Currency | OilPrice.com
Texan politicians are looking to introduce a bill that would enable the state to issue a gold-backed digital currencyoilprice.com
Basically everyone who tried the like in some form like Kenney, Reagan, Jackson etc got shot. Well Jackson's assassin's pistol misfired because it was a muzzle loader which saved his life. If this passes my prediction is something will put a likely violent or discreditorious end to those behind this valiant effort. But nothing stops me from liking it. Thank you OP for bringing a smile to my face!
The best is social credit currency issued by the government itself and not rented by a private central bank to the government and its subjects for which they are taxed for the central bank's parasitic gain at society's loss. This allows for expansion and contraction of the currency to offset deflation or inflation. Need to build something like a road, bridge or school? Just print the money, the fact that this new structure provides value will soak up the inflation with new goods and services. Make a mistake you can fix it directly. Price shock with inflation is repaired through taxation to decrease money supply. Price drops or economic downturns can be easily fixed by printing more money as those are signs of monetary rarefaction. Either way you fix the problem at the source aiming for continued price and economic stability if not continued steady growth. This is what had the 13 colonies going so well for so long, and the true cause of the American Revolution because after the stamp act amongst other things the colonists were more included in the bank of England seignorage tree by not being able to directly use their own local currencies as much.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/EVFLYIVWEJN4NOKCVNJ7E2FEDQ.jpg)
Exclusive: From Russia with gold: UAE cashes in as sanctions bite
United Arab Emirates has become a key trade hub for Russian gold since Western sanctions cut Russia's more traditional export routes.
www.reuters.com
As far as I know Texas is a little different, I think there are some things "left over" from them being their own country a while ago.
I know there are things that are in texas that don't go across state lines like they do in other states, I want to say electricity is one of them.
I know there are things that are in texas that don't go across state lines like they do in other states, I want to say electricity is one of them.
To put on your tin foil hat for a sec you know Quadifi wanted to move to a "gold standard" and one of those crazy theories is this is one reason he had to go.
I will link one, but it is easy to find.
I will link one, but it is easy to find.
Gold Dinar: the Real Reason Behind Gaddafi's Murder - Millenium State blog
In 2009, Colonel Gaddafi suggested a new currency, independent of the American dollar: the gold dinar. It lead him to his murder...
millenium-state.com
I have been watching "Gold" for some time. Interesting that during these conflicts the price of gold has gone down, just a bit.
Reading several explanations. No one has ventured that those holding gold are selling gold to finance the recent conflict. that could explain the slight drop in price rather than a spike up.
Convert physical gold to Cash or Crypto to purchase weapons and supplies could move the price of physical gold down, just a thought.
www.reuters.com
Reading several explanations. No one has ventured that those holding gold are selling gold to finance the recent conflict. that could explain the slight drop in price rather than a spike up.
Convert physical gold to Cash or Crypto to purchase weapons and supplies could move the price of physical gold down, just a thought.
PRECIOUS-Gold drops, but holds above $1,900 as Israel-Hamas war rages
Gold held above the key $1,900 ceiling on Monday, despite a drop in prices due to technical selling following a fierce 3% rally in the previous session as the raging Israel-Hamas war sent investors scuttling to the safe-haven bullion.
www.reuters.com
I bet you have a chubby over this don't youA blind man could see this coming:
Bills introduced in the Texas House and Senate would create a state-issued, gold-backed digital currency.
Enactment of this legislation would create an option for people to transact business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money and create a viable alternative to a central bank digital currency (CBDC).
Texas May Launch Its Own Gold-backed Digital Currency | OilPrice.com
Texan politicians are looking to introduce a bill that would enable the state to issue a gold-backed digital currency
LOL
So, Texas gold certificates...
Let's see one...
Fucking look squirrel moment while the illegals poured in.
R
Let's see one...
Fucking look squirrel moment while the illegals poured in.
R
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They have been at this for a long time. They are holding physical.
Illegals pouring in is exactly why they started that operation.
Seen a recent inventory of Fort Knox ?
About 13 years ago it started getting some publicity.
Homepage - Texas Bullion Depository
The Texas Bullion Depository, Texas' first ever state-administered precious metals bullion depository for storage of your precious metals.
www.texasbulliondepository.gov
Hoard 'em, Horns! University of Texas sitting on nearly $1B in gold bullion - InvestmentNews
Apparently, investment officials for Longhorn endowment not overly bullish; also invest for Texas A&M
www.investmentnews.com
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The Fed used fake paper money to finance the breeding of at least two generations of fake welfare people, an army of "fed dollar babies" who only exist because endless printing of paper money allows the financing of the programs that sustain and keep the fed dollar babies alive.
In the academic circles I move in, with the professors and legal colleagues I speak with on a daily basis, we use the term I coined, "fake dollar people" to refer to those people who cannot exist and survive through their own means and cannot survive in a truly free and open market. I sometimes refer to them as the "army of orcs bred for Mordor through federal reserve money."
A great revaluation is likely coming once the era of paper fiat currency finally ends with the global crash that is inevitable.
We may be in radical agreement, I am uncertain, my basic view is that every time the Federal Reserve prints more money into existence and loans it into circulation, they are stealing from all of us by debasing our currency, lowering our purchasing power, and causing inflation as they hand out money to their banker buddies and their welfare orcs who use the money to compete with us to buy the same goods, services, and land that we want to buy and have to work and save to be able to buy.
If money is a claim on a labor (via buying the finished products of labor) and can be redeemed for the finished products made by another man, then the artificial printing of money that isn't backed up by a similar level of output of goods in society, means that somebody [the first recipient of the expanded money supply] gets to buy goods, services, land, etc., on terms very favorable for himself, to the detriment of those who are working and saving.
Printing of toilet paper money is a form of organized theft.
A physical gold backed currency can and likely will arise in the aftermath of the coming epic crash. When (not if, but when) the toilet paper dollar finally fails, the fake dollar people, forming into orc war bands, will spread forth across the land seeking to pillage and plunder for their daily bread since they won't work for their daily bread. Productive men will band together in a fellowship and confront and defeat them. With a significant reduction in population as well as a reduction in the size, scope, role, nature, of government, a physical gold backed currency will likely become possible and perhaps even necessary. Imagine a government with a budget about 5% of what it presently is, this could be managed and run in gold or silver, or perhaps both.
The oldest method in the book would be using water displacement with the known relative density of pure gold, to determine if the amount of water your gold displaces is what it should be, and if it matches your calculations for a given mass of gold with that particular relative density. Note, your results may vary because, for instance, an American Gold Eagle is not 100% pure gold, it has been alloyed with other metals to provide strength.
If you take 1 ounce of pure gold, working with the relative density of pure gold, you put it into a graduated cylinder and measure how much the water level rises, this should match your calculation for the expected displacement for 1 ounce of pure gold based on the known relative density of pure gold. If the gold is 1/2 ounce gold and 1/2 ounce silver, or gold plated tungsten or gold plated silver, you won't get a displacement that matches your calculations for pure gold.
Note, the bankers from the USA have tried to rip off China with high quality gold plated tungsten bricks that were about 25% gold and 75% tungsten, noting that the relative density of tungsten is 19.28 while pure gold is 19.3 (very close). The Chinese were suspicious and finally drilled into the cores of some of the "gold" bars and confirmed their suspicions, tungsten. Silver has a relative density of 10.8, copper is 8.4, so you can see why a swindler would use tungsten with gold because tungsten is so close to gold in regards to relative density.
This takes me back to chemistry, physics, and materials science. It was all just fun, games, lab work, and excuses to spill water all over the place.
How to Tell if a Gold Ring Is Pure Gold in Chemistry
Gold has long been cherished as one of the most valuable and exotic metals. Ancient civilizations incorporated gold into coins, jewelry, royal adornments, ceremonial objects and countless other precious artifacts. Gold's enduring popularity flows from its impressive array of desirable qualities...
sciencing.com
Lincoln did issue his greenbacks as a war measure on an emergency basis, they were not backed by anything, but the government did promise to honor future redemption in bullion coin. Ultimately those greenbacks were freely convertible into gold by the 1870s and then withdrawn from circulation as they were redeemed for gold.
The key difference between a Lincoln greenback and a Federal Reserve Note, well two key differences. Lincoln had the treasury issue the greenbacks and they were issued upon a promise of future redemption in precious metal. Fed notes are printed by the Fed, which is accountable to no man, and there is no promise of any redemption in anything.
Deficit spending is utterly responsible for that and on that front we are in definite agreement!
But there is not enough physical gold on the planet to back the money that is required by the economy of even a medium-sized state. Much less countries.
The 'reserve' concept where paper money is backed by assets and deposits allows flexible currency that is backed by... physical assets that are more than gold. Businesses, real-estate, stock, livestock, for that matter. And while it has the potential for crashes and boom/bust economies... it is generally sound.
But as you point out, the endless printing of Deficit currency is dangerous. It will lead to a crash. And hyperinflation. And inflation devalues (steals from) the savings of every person. AND creates no incentive for saving. So folks live on credit and paycheck to paycheck... and when the crash comes, they walk away, declare bankruptcy and leave the 'working and taxpaying' folks holding the bag. Their nest eggs that they worked for all their lives destroyed.
My only point is that a gold-backed currency with every dollar backed by X amount of gold is an impossibility in today's economy. In the 1800's... It was possible. And if the world reverts to the Middle Ages (Don't rule it out) physical assets ranging from gold to ammunition will be used as currency. But so will IOU's, local 'notes' and banks of some kind will arise Because you can't carry gold, seashells and ammo for every transaction.
The point of the thread should not be about a Texas Pipe dream (probably designed to sell more non-existant gold by gold brokers)... it should be about the utter danger of deficit spending, printing more money and giving it to unproductive, leeches who are sapping the economy further.
It's not sustainable. It's the "Decline and Fall of the Roman Empire." But they didn't have nukes, chemical weapons and submachine guns.
We better hope for a soft landing... or that the world soldiers on for another 50 - 60 years. Or Mad Max is going to look like a documentary. But, yes, we are on the same page!
Cheers,
Sirhr
Do bear in mind that Marcus Crassus was rich enough to pay for a significant privately raised army of Roman legions that he equipped, financed, led, at his own expense, for multiple years.
The two richest Americans couldn't pay the American military budget for even 12 months. Another issue here is that the US does not have a constitutional military for defensive purposes, we have an imperial force that is one of the most offensively capable professional standing forces ever conceived, which itself is very expensive.
Standing armies require paper fiat currencies to finance them and paper fiat currencies require standing armies to protect the central banks that issue the worthless paper and rob the citizens, or else the citizens may rise up and topple the bank. Standing armies go hand in hand with central banks.
Yep. They'd need a pile of gold as big as Texas.
Besides, as I've said before, the world runs on a uranium backed currency. The one with the most nuke powered ships, and bombs, and methods to deliver them, rules.
Right now thats us.
Absolutely... we are burying our future generations paying for the defense of the rest of the world...
But I will respectfully disagree that we are an "Imperial" nation. With the exception of a few of the more 'manifest destiny' Presidents of the late 19th Century, we have been far more insular and 'America First' as our national prediliction. We aren't out, like Rome, to conquor the world.
Instead, we have squandered our blood and treasure, especially since 1916 -- moreso since 1945 -- as the Global Mrs. Kravitz who can't help but stick her nose in the business of every neighbor... and preach to them how they all have to be Jeffersonion democracies and we will make sure they are by bribery or (if they annoy us enough) by force.
Honestly, it's why the Globalists have to destroy the USA. Because it is the one place that doesn't want to be "Global." And has the resources and ability to do so. Also why everyone wants to be here... even though they hate us.
Sadly, our standing Army, along with "Bribing the people with their own money" as De Toqueville put it... in order to keep cushy jobs in Washington and wield God-Like power over the mere proletariat who are not smart enough to be Senators and Billionaires (according to the Senators and Billionaires) has set us on a dangerous path.
I won't call it a path of no return yet. But the event horizon is not far away. And ask Weimar Germany or South American banana Republics from the '70's how fast it all started. (Not to mention that 'other' world actors could 'start it' the way Soros crashed the Pound and other national currencies. Fiat currencies. And that psychotic James Bond Villian stays up at night fapping at the idea of crashing the dollar. Why he is not in jail is beyond me... but he has lots of IOU's.)
Sirhr
I could run a constitutional federal budget on gold and silver, but the entire country would throw a fit and condemn me as a villain.
The "conservatives" would hate the 90% cut to the military and the Left/establishment would hate the 100% cuts to all woke welfare BS.
We would have a Secretary of State, Secretary of War, Secretary of Treasury, Secretary of the Navy, and an Attorney General, that would be the federal cabinet, all other departments would be eliminated.
The Navy would max out at 6 carrier air groups, perhaps only 4, with the rest being mothballed and preserved. The Marines would be 1 division active and 1 reserve. The Army would have 4-6 active divisions, 4-6 reserve/National Guard divisions, and 20-30 reserve "cadre" divisions staffed out to about a battalion or regiment to train, administer, and maintain equipment for possible mobilization of the rest of the division. The Air Force would largely become reserve formations and would primarily be reserve fighter/bomber formations as well as active ICBM silos and active security forces for those silos. Border security would be one of the main responsibilities of this constitutional force, with probably 2 army divisions permanently on the southern border.
It wouldn't be a military particularly useful for endless war-mongering. In short, the military-industrial complex would hate me and would proclaim me to be an unpatriotic fool for not agreeing to guarantee our grandchildren starvation and homelessness so that endless spending can take place on a military that isn't needed and provides no significant return on the investment.
Rome never really set out to conquer the world. Rome began as a monarchy, grew into a republic, and then fought a war for survival against Carthage, out of necessity, the First Punic War, gained territories it probably shouldn't have gained, fought another war against Carthage, the Second Punic War, and then began an irreversible decline and degeneration into an oligarchical corrupted republic before ultimately morphing into an empire.
The USA is probably somewhere around the Late Roman Republic, in the period of say 100 BC to 70 BC. We still have the legal form of a republic but we are clearly a corrupted degenerated republic that has morphed into oligarchy and functions as an oligarchy.
IDK... Maybe there is not enough gold on the planet but if you add in silver there might be. I'm old enough to remember "Silver Certificates" and watching an elderly lady cashier taking money out of her purse and swapping it for Silver Certificates at the end of the day. Her till always balanced with fiat money.
I think it is difficult for a person to wrap their head around a world that operates on gold and silver. Why ? Because today's one ounce of gold will buy a million times more then than what it would buy today.
Gold isn't infinitely more worthwhile, it is simply that the paper dollar has lost about 99% of its value relative to gold.
Gold isn't worth more per se, the dollar is just worth less, to the point of being almost worthless. In this sense, gold is technically "worth more" in dollars, than it historically was.
Invalidating the Federal Reserve Note as legal tender, with a narrow window for convertibility to a gold backed currency, would go a long way to putting us on the path to fix things. We would pick some ratio of how many current "old" dollars it will take to equal one new (gold convertible) dollars, hint, it won't be 1 old dollar = 1 new dollar, it might be $10,000 old dollars = 1 ounce of gold worth of new dollars which might wind up being $50 new dollars.
We're either going to keep going and printing until the day comes where it cannot be done any more, or we're get to some strong men with virtue together and have them brainstorm how to unravel a century long fraud scheme/scam and liquidate the fiat dollar based system. It is more important that we proceed in a virtuous and honest manner, behaving honorably, than to have the absolute smartest and most educated brilliant economists proceed with economic perfection.
I would rather have honest farmers, country lawyers, small business owners, county sheriffs, and honorably discharged NCOs preside over this economic transformation than Harvard educated, Oxford educated, and Sciences Po educated academics and bureaucrats, Wall Street finance kings, and six term career Senators. Coastal big city elites and their ideas are largely what brought us to this point.
We've never had to unravel a fraud scheme this comprehensive and all-encompassing. This would be historically unprecedented. The closest parallel would be the handful of Roman emperors who tried to address the debasing of the currency by increasing the gold/silver content, of course for every emperor trying to stabilize the currency by boosting the gold and silver content, a half-dozen were content to debase with bronze or copper.
I would probably have to handle it from a secured bunker, protected by a handful of personal friends, and I would need to rely on the loyalty of some solid Marine riflemen to take the leadership of the FBI, CIA, and NSA into custody. It would be denounced by corporate media as a "presidential coup" and "the end of our democracy."
In other words, it isn't happening.
Trump wasn't even able to get a border wall, let alone reclaim the country. Look at how they have ruined him and are working to incarcerate him, and he's a multi-billionaire.
If their prosecution persecution fails, they might JFK him.
Indeed .........if whatever this is meant to be, is not redeemable to actual physical gold at any moment is just another spin in IOU digital Fiats.
Digital fiat is the final stage for Modern Monetary Therapy and total global enslavement.
Crypto is not the answer, it is a false messiah that will lure people into accepting Central Bank Digital Currencies, everything will be monitored, tracked, controlled, access to accounts will be contingent upon social credit and vaccine compliance, and the central banks can run negative interest rates.
Anything that can be centrally controlled or that is digital, is ultimately a tool for enslavement.
Texas digital currency that is tenuously backed by gold would basically be a joke. It has to be a physical currency redeemable in gold, silver, or a combination of the two, with full reserve backing.
JMHO...
Appears we are in agreement of how the final act will play out, one way or another.
My focus is to be situated and become a spectator as it plays out.
Could go on for a while so a dependable source of water, food and shelter will become more valuable than physical gold, silver, crypto, etc.
But I could die of old age before the curtain drops.
I believe civilization is approaching, or at, a fork in the road, we have one road [that we are heavily leaning towards] that will take us to maximum slavery, suffering, misery, and perhaps permanent global totalitarian autocracy via a total global surveillance grid with a technocratic oligarchy, and the other road that would lead to freedom.
Been telling y’all this for a long time
@MarinePMI ya need to disable the “this member limits who can view their account “ button
History continues to repeat itself. Just look at world events. Evidently once a man becomes a King, he fails to study history.
I believe the era of elite rulers viewing large populations as necessary for projection of power, taxation, etc., is largely ending as well. They have automation and soon AI, which will allow autonomous drones, robot soldiers, automated factories, etc. The king no longer needs ten million subjects to be able to withstand his neighboring rivals or to generate wealth/taxation.
The era of "large populations are necessary for nations to have wealth and project power" is ending. Some of the nations with the highest GDP per capita are nations with fairly small populations.
In fact, many elite likely view large populations and high population density as a liability, because it presents them with a potentially revolutionary class of workers and an independent class of middle class entrepreneurs who are aspiring to move up and become future elites. In an era of mass automation they don't need swarms of workers and they don't even need swarms of customers. Once they have the capital goods in the form of the ability to produce AI, they don't need customers buying large volumes of products to maintain their current lifestyles and to keep their grip on their power base.
That scenario will bring back the rise of "The Assassin's".
History is repeating.
The era of the industrial baron believing he needs to have a steel mill, a ranch, a farm, an oil refinery, and two car assembly-lines, with 20,000 employees and several million customers, is largely ending.
If he has capital in the form of an automated factory that can produce autonomous drones for the military and autonomous worker AI drones for his ranch and his mansion, then he has everything he needs. The government will give him contracts and will always have the standard of living he wants.
Machines making machines. We are even close to a point of machines being able to write code for the programming of other machines, if we're not already there.
Land ownership will be novel and rare by the 2030s. This is one of the reasons the elite are buying up so much farm land. They do not intend to establish massive agribusiness concerns and produce tens of billions of bushels of wheat, corn, etc., they intend to have massive sprawling estates of idle fallow fields that they won't do anything with except to legally own so as to deny to the rest of us.
Their goal is not to take over the food supply so as to continue producing food while enjoying profits, their goal is to take over arable land and shut down the food supply so that no food is produced. We are not intended to survive, they want to starve the majority of the world's population. We are meant to die.
Never understood using gold to back anything since I was a child.
Gold was a near useless metal until electrical circuitry started using gold contacts and even then, replacements for it are already widely used. Gold is a soft shiny metal. Nothing more. It's one the strangest behaviors humanity has; placing value on shiny rocks.
Gold was a near useless metal until electrical circuitry started using gold contacts and even then, replacements for it are already widely used. Gold is a soft shiny metal. Nothing more. It's one the strangest behaviors humanity has; placing value on shiny rocks.
Perhaps you need an economics lesson on how fungible stores of proxy for human labour have worked throughout history?
Not to mention it looks pretty and even birds like shiny pretty things.
Fiat currency is great and wonderful, right up until it is suddenly either by decree or by consequence, worth absolutely nothing.
At least with gold you could make some jewelry for your significant other.
And it's never made sense in all the history I've ever read about the subject. That's all I'm saying.
I am also not defending fiat. Quite the opposite.
Well, I value my children.... But I would not trade them for a loaf of bread.
Whether you understand it or not really does not matter. For thousands of year's the value has been understood by those that "barter".
Think of it as something to barter with like corn, pork or eggs.
At the turn of the century a man would work a team of oxen, skidding logs out of the forest for 6 days and receive an ounce of gold for his labor.
Historically a stock broker on Wall Street could buy himself a complete new suit, tie, shoes and socks for an ounce of gold. That holds true today.
Again, I understand all that. It just never made sense to put value on a shiny rock. You can't eat it. You can't grow crops with it. You can't make tools with it etc.
Bartering with actual useful goods makes sense. Bartering with labor makes sense. Bartering with shiny rock? Non-sensical. Regardless of historical usage.
What I find funny is the people saying stock pile gold for if SHTF or there's a collapse. I'll stick to stockpiling food, water, booze, ammo and other useful goods.
Trying to move to a different currency? And setting on oil reserves?
How long until the US military is sent to "liberate" Texas?
Mike
How long until the US military is sent to "liberate" Texas?
Mike
Here's the deal:
Those that are stocking some gold are planning on "coming out on the other side".
They have a plan to sustain themselves and their family / tribe.
It's going to be a bumpy ride but eventually a form of "currency" will become available. probably backed by gold, silver or some other element.
During the ride a bit of gold or silver may get you an item you need, like medical supplies or fresh milk..
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