Throughout history, the value of money has been backed by precious metals such as gold and silver. This system, known as the gold standard, provided a tangible asset to support the value of currency and promote stability in financial markets. However, in recent decades, most countries have moved away from this system and adopted fiat currencies, which are not backed by any physical commodity.
The abandonment of the gold standard was largely driven by the need for increased flexibility in monetary policy and the desire to stimulate economic growth. Fiat currencies allow central banks to adjust interest rates and control the money supply, which can be useful in times of economic crisis. However, this system also comes with risks, such as inflation and currency devaluation.
In recent years, there has been a growing movement advocating for a return to a gold-backed currency system. Proponents argue that tying currency to a physical asset like gold would help prevent governments from overspending and devaluing their currency. They believe that a gold standard would promote stability in financial markets and ensure a more secure store of value for individuals.
While the idea of a gold standard has gained some traction, it is unlikely that we will see a widespread return to precious metal-backed currencies in the near future. The global economy is complex and interconnected, making it difficult to implement such a system on a large scale. Additionally, the amount of gold in circulation is limited, which could pose challenges in supporting the value of all currencies.
That being said, some countries have taken steps towards reintroducing gold-backed currencies. For example, countries like Russia and China have been increasing their gold reserves in recent years, leading to speculation that they may be considering a return to a gold standard. However, it remains to be seen whether these efforts will result in any significant changes to the global monetary system.
In conclusion, while the idea of a gold standard may hold appeal for some, the practical challenges of implementing such a system on a global scale are significant. It is unlikely that we will see a widespread return to precious metal-backed currencies in the near future, but the debate around the value of fiat currencies versus a gold standard is likely to continue for years to come.
LEARN MORE ABOUT: Precious Metals IRAs
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Nope
How many people around the world have been killed for trying to go back on a precious metals standard?
That might be a good video.
The gold that they say is there isn’t!!!
They would have to show the rats that stole the gold. That's a no no.
You know the ancient saying that still applies?
The root of all evil is the love for money.
Going off gold standard made money for some no doubt. Who???
We can find enough gold/silver if we search Biden's garage.
US would need to dig out many thousands of tons of gold, 31 trillion to be exact just to coved our debt!
If the world tries to go off of the petrodollar the United States will fight every country on earth
No. Its going digital!
What a concept !?
Too bad that goes against the Fed monopoly THEY have established and benefit from so basically what I'm saying is it ain't gonna happen since THEY enjoy their power !?
Click bait bullshit. Go get a job at Denny’s.
It’ll never happen for the simple reason, There’s not enough gold to cover our economy!
Just watch Ron Paul. Nice clevage
FACT. The Federal Reserve bank is NOT a US bank. It’s comprised of at least 6 banks. One is chase manhattan. The others are foreign banks. Means we have more foreign banks from other countries, controlling our currency than are US banks. Your bank savings are insured by he FDIC. Not via the foreign banks. They are not stupid. The FDIC gets money from the US treasury to pay claims. Our treasury gets its money from the US tax payer. So basically we are self insured.
Also, BTC can separate State from money, because politicians and the Federal Reserve private Bank can't influence BTC monetary policy, we might actually get genuine people to enter into office as opposed to Pelosi types who prefer NWO agenda's over constituents and national security. We call this, Bitcoinization and it will take a decade we reckon. Fiats historically only last 270 years max. and gold can always be confiscated like in the Gold Confiscation Act of 1933 in America of all places. BTC is freedom, BTC is hope there is no other that can compare to it's innovation and how it will without a doubt change our world, assuming there's a world to change.
NO. Too much manipulation via paper gold and if you look at the price chart and divide it by the Fed balance sheet/money printing, you will understand why the price has been flat for a decade. Here's a 6 min video to explain a little more. Also, Bitcoin being digital can be used as a global reserve currency whereas gold is heavy, requires expensive security, unknown issuance rate, and difficult to audit and just doesn't work in a digital civilization for contract settlement. BTC fixes that but education is key because most people do 10 minutes of research and consider themselves experts. https://www.youtube.com/watch?v=nPW9IRyZpiI
Not any time soon I'm afraid. How about going back to exchanging goods and services directly?
This is just one of the many things and issues I prey about for our country and countryman…! It's the best way to start to fix things the second is to do away completely with any income tax what so ever from the fed and the States…!
The only way the man behind the curtain would allow the U.S. to go back to a gold standard is through overwhelming violence and death and quite frankly Americans no longer have a stomach for that.