Quote from: iGROWyourBiz on April 15, 2014, 02:08:11 AM

Quote from: acoindr on April 15, 2014, 12:30:01 AM

Quote from: twiifm on April 14, 2014, 11:07:04 PM

Do you realize this is why we went off gold standard? When you make currency convertible to a commodity. The supply cant keep up w demand. It leads to liquidity crisis

No that was to provide camouflage cover. The real reason we went off the gold standard was to accommodate big government. The US population in 1971 was about 200M and about 300M in 2008 or a 50% increase in 40 years. Take a look at the chart below. Over that same time period 1971-2008 the US monetary base increased about 700% in 40 years. Even worse from 2008-2012 or just 4 years it increased 300%! Liquidity crisis my rear. We're absolutely swimming in dollars. You should really listen to the following Peter Schiff episode. He really nails it talking about average people living on about $50 per week in the 50's yet having a full family, feeding & clothing the kids, without the wife working, and typically without a high school diploma, but it's because in today's dollars a comparable person would need to earn $140K per year.

https://www.youtube.com/watch?v=kHDcl5aiGus&list=UUIjuLiLHdFxYtFmWlbTGQRQ

actually that is also camouflage...

we got off gold (silver and gold certificates) to Federal Reserve Notes because we got tired of handling gold for the world and to secure the future of a global currency backed by oil. ie the petrodollar

this is not someones opinion...this is historical fact:

http://ftmdaily.com/preparing-for-the-collapse-of-the-petrodollar-system/

Which part is historical fact, getting tired of handling the world's gold or moving to the petrodollar? I can agree with the latter but certainly not the former. What are we, gold box boys at the supermarket? If we're so tired of handling peoples' gold, which by the way consists of moving a sticker from one stack to another while the physical gold doesn't move, why is our response to Germany upon request for their gold back, sorry we can't give it to you all at once, but will instead stagger shipments over several years?

http://www.zerohedge.com/news/2014-01-19/germany-has-recovered-paltry-5-tons-gold-ny-fed-after-one-year

We got tired of handling other peoples' gold. What a bunch of nonsense.