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Old 11-05-2009, 06:13 AM
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rickoff rickoff is offline
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Join Date: May 2008
Location: Maine, USA
Posts: 3,366
Quote:
Originally Posted by SkyWatcher View Post
Hi folks, I am enjoying reading peoples perspectives on this here. I have not too long ago come to the conclusion as others seem to have as well, like the man speaking in the 'claiming our inheritance' videos, that money itself was never, has never and still is not needed
Hi Tyson, and thanks for your interest in this thread. As I see it, there is a problem if some form of money is not used as a payment system for goods or services received. Work and ingenuity equate to money earned, which is then usable to purchase goods or services. Without such a system, you might be able to barter for some of your wants and needs, but for many others you could not. There would be no problem with our money system if our government had not allowed creation of the Federal Reserve and given them control over money printing, and had they not abandoned the gold standard. The gold standard, adopted in 1834, set the value of gold at $20.67 per troy ounce, and it remained at that level until the Great Depression, when the value was raised to $35. The value stayed at that level, and inflation was unheard of, until the gold standard was abandoned in 1971 under the Nixon administration. At the current market valuation of gold ($1,088 per troy ounce), the US dollar has already lost 97 percent of its pre-1971 value. In the past 12 months alone, the rising value of gold against the dollar has decreased the value of a dollar by fully 1/3 of its previous value. So even if a person had $90,000 tucked away in a savings account 12 months ago, it would only be worth $60,000 today.

I believe that we do need some kind of money system, and that it must be backed by something of real and constant value. Printed money should be a certificate that represents a share value of the commodity used as backing. The US Treasury should control the printing of such money, not the Federal Reserve. If we did not have any money system, then how would we obtain our wants and needs? Would everyone simply be allotted a certain standard amount of electronic credits each month that could be used as desired? If so, who would dole out these credits, and how would the value of those credits be backed? And if everyone received the same credits regardless of whether or not they worked, then what incentive would there be for anyone to work or gain a higher degree of education? Quite a dilemma, wouldn't you say?

Rick
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