A recent talking point re-emerges in another light....

[Alex Colter]

Would it be fair to say all money must be back'd by Energy?

On Wed, Jan 25, 2012 at 1:58 PM, Paul Mackin <mackin.paul at verizon.net>wrote:

> On 1/25/2012 12:42 PM, David Morris wrote:
>
>> http://www.trutv.com/**conspiracy/government/ron-**
>> paul/gallery.html?curPhoto=11<http://www.trutv.com/conspiracy/government/ron-paul/gallery.html?curPhoto=11>
>>
>> The New World Order
>>
>> "[Is there] an international conspiracy to overthrow our government?"
>> Paul said in 2003, repeating the question of an audience member at his
>> Austin speech. "The answer is 'Yes'. I think there are 25,000
>> individuals that have used offices of powers, and they are in our
>> Universities and they are in our Congresses, and they believe in One
>> World Government. And if you believe in One World Government, then you
>> are talking about undermining National Sovereignty and you are talking
>> about setting up something that you could well call a dictatorship -
>> and those plans are there!"
>>
>> Ron Paul's call for a return to the Gold Standard are clear proof that
>> he's w/o a clue about economics and monetary dynamics.  But neither do
>> most people...
>>
>
>
>
> Hey, I got an idea.  Why doesn't the Fed just SAY it has enough gold
> buried somewhere to "back" all the money it creates.  Of course, the public
> would have to take this on faith.  It wouldn't be possible to actually
> count or weigh this much gold.  So in the end the value of money depends on
> trust.  Like so much else in this world.
>
> Approached from another angle, is there enough gold in the world, above or
> below, ground to "back" but a tiny fraction of the money supply?  Any kind
> of conceivable "gold standard" would just add an unnecessary, though minor,
>  complication to something that is complicated enough already.
>
>  Saying all money must be backed by gold  is kind of like saying that all
> books have to be printed on paper.
>
> Good-bye Kindle.
>
>
> P
>
>
>
>
>
>> On Wed, Jan 25, 2012 at 11:03 AM, Paul Mackin<mackin.paul at verizon.net**>
>>  wrote:
>>
>>> It's my impression that spinners of this particular conspiracy theory,
>>>  espoused by Ron Paul and others, don't really understand how money and
>>> banking work, or of American economic history.
>>>
>>
>
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