tag:blogger.com,1999:blog-3758330678390419129.post1542816578806918089..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Heritage Foundation: Sell Gold to Pay Off Treasury DebtRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-3758330678390419129.post-2135869804110762802011-05-18T09:15:02.488-04:002011-05-18T09:15:02.488-04:00Nixon, if anything, took the country off the gold ...Nixon, if anything, took the country off the gold standard so he didn't have to sell the gold at Fort Knox.<br /><br />Bretten Woods was to sell the gold at 35 dollars an ounce. Nixon defaulted on that agreement and KEPT the country's gold reserve.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-82006845672890957992011-05-18T02:01:18.295-04:002011-05-18T02:01:18.295-04:00I don't see the big deal. The end goal is to g...I don't see the big deal. The end goal is to get precious metal money into circulation, replacing fiat paper money. Minting the gold into coins and selling it off while phasing out federal reserve notes would be preferable.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-83805068767774050322011-05-17T23:22:17.406-04:002011-05-17T23:22:17.406-04:00If nobody has seen the gold and we can't audit...If nobody has seen the gold and we can't audit the gold at Fort Knox, than how would anyone know if there is any gold at all ? It possibly could already be gone and we wouldn't know it??? WE ARE ASSUMING THAT THE GOLD IS STILL THERE. WE WILL NEVER KNOW !!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-62329046782994955882011-05-17T22:52:11.770-04:002011-05-17T22:52:11.770-04:00I was thinking the same thing as Ron Paul (apparen...I was thinking the same thing as Ron Paul (apparently). Why not get the gold into the people's hands? Current money isn't backed by gold anyway, so it's just a government asset going to waste like all other government assets.<br /><br />If we are to get rid of the Fed, it will almost certainly have to be from changes in the laws to allow for monetary competition. In that case, we&#Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-68876422412764397282011-05-17T21:19:58.722-04:002011-05-17T21:19:58.722-04:00Umm, head over to Lew Rockwell's new "Pol...Umm, head over to Lew Rockwell's new "Political Theater", the latest post focuses on Ron Paul and his endorsement of selling what's in Ft. Know and the NYFed.<br /><br />Link to NySun article:<br />http://www.nysun.com/national/selling-gold-at-fort-knox-emerges-as-next-big/87350/Ken Rnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-45114625038602342842011-05-17T19:06:07.661-04:002011-05-17T19:06:07.661-04:00Quick reality check please? The only thing putting...Quick reality check please? The only thing putting the gold in Fort Knox up for sale would accomplish is utterly cratering the price of gold.differentdrummerhttps://www.blogger.com/profile/02770815050971061927noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-2615817436870266842011-05-17T17:26:40.819-04:002011-05-17T17:26:40.819-04:00If the gold standard were to be reintroduced and g...If the gold standard were to be reintroduced and gold producing countries prevented gold from being exported, everyone would simply enjoying falling prices. In other words, the value of gold would increase. Not a bad thing I say.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-65515129934731077522011-05-17T16:57:53.589-04:002011-05-17T16:57:53.589-04:00Selling gold would be the first stage to remonetiz...Selling gold would be the first stage to remonetizing it via the Mengerian market process. I would have thought you would be for that.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-79299392248724100182011-05-17T16:46:15.196-04:002011-05-17T16:46:15.196-04:00They better sell it soon, Abby Prechter Doolittle ...They better sell it soon, Abby Prechter Doolittle says it's going to $500.<br /><br />LOLOLOLOLAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-64166446154181336422011-05-17T16:45:55.758-04:002011-05-17T16:45:55.758-04:00Presuming the US still owns the gold, the proceeds...Presuming the US still owns the gold, the proceeds of such a proposed sale would be frittered away on new or current spending programs. <br /><br />The gold (and silver) need to be minted into coinage and an orderly and generous transition from Federal Reserve notes to circulating gold and silver coin needs to be established.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-20636260000925911072011-05-17T16:44:50.943-04:002011-05-17T16:44:50.943-04:00"The major objection against 100 percent gold..."The major objection against 100 percent gold is that this would allegedly leave the economy with an inadequate money supply. Some economists advocate a secular increase of the supply of money in accordance with some criterion: population growth, growth of volume of trade, and the like; others wish the money supply to be adjusted to provide a stable and fixed price level. In both cases, of Danger Pioneerhttps://www.blogger.com/profile/15978715863845118886noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-8317630660714056412011-05-17T16:28:03.118-04:002011-05-17T16:28:03.118-04:00i prefer gold standard over fiat money; however, i...i prefer gold standard over fiat money; however, i do have concerns over the stability of the standard. what if major gold producing countries suddenly withhold their gold export and form cartels like the oil rich countries. what will the world or US going to do?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-84745156620670101792011-05-17T16:11:19.569-04:002011-05-17T16:11:19.569-04:00Kinda crappy post. Selling gold is not a panacea, ...Kinda crappy post. Selling gold is not a panacea, of course, but the blog author is way too one-sided on thisAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-67473323605243714102011-05-17T15:42:23.375-04:002011-05-17T15:42:23.375-04:00Paging Gordon Brown...Paging Gordon Brown...Capn Mikenoreply@blogger.com