Top 10 Gold Misconceptions & Propaganda on the Internet

Gold-Blockchain is a Solution while Bitcoin is Not

Gold-Blockchain is a Solution while Bitcoin is Not

Our fiat money could never work for long. The gold monetary system of past did not fail by fundamental design. Central bankers first perverted it with paper notes and leveraged markets. Finally, in 1971, government abandoned it due to their own overspending. The resulting fiat we have today will fail by design, it never had a chance. Money cannot be baseless and printed into infinity. Having a central authority issue money at will results in corruption, class...
Read More
Ancient and Early Modern History of Gold

Ancient and Early Modern History of Gold

Admiration of gold predates history. The earliest known history of gold is a golden treasure dating back to 4600 BC. One of the earliest known Egyptian maps, the Turin Papyrus Map, shows detailed plans for a gold mine. The Aztecs regarded gold as the product of the gods, calling it literally “gods excrement”. Civilizations from every corner of the world clearly made great connections with their Gods and Gold. Today the world is full of gold...
Read More
Top 10 Gold Misconceptions & Propaganda on the Internet

Top 10 Gold Misconceptions & Propaganda on the Internet

There are many gold misconceptions distributed about. The propaganda is meant to keep us from buying gold. The Federal Reserve is a private institution representing the interests of 12 US banks. The Fed's foremost agenda is to defend their banking system. Secondarily it represents broad economic interests as mandated by US Congress. Those objectives do not always work in harmony. Gold is the central bankers Achilles heel. Interest in gold means people are losing faith in...
Read More
Gold Backed Money Based On Blockchain is Coming

Gold Backed Money Based On Blockchain is Coming

Countries are going to begin using digital gold-blockchain monies. Blockchain is fast, efficient and transparent. Governments can collect taxes directly on-chain with a centralized core, but distributed ledger. You'll spend money on a debit card like you do now, it will be very similar, you won't tell the difference in the way it spends. Russia and China have been buying large amounts of gold and silver recently. Countries such as Germany, Netherlands, Hungry, Turkey and others...
Read More
Gold-Backed Blockchain

Gold-Backed Blockchain

You won't be buying things with actual coins. You wont be using paper 'dollars' representing gold (as in the past). Those things won't even exist. The future is a digital money. Something incorruptible, verifiable and fast: a distributed blockchain ledger. Yes, it is similar to cryptocoins today. But not exactly. The difference is that the source code will be managed by your issuing government. Another difference is that it will be backed by gold. The coins...
Read More
Fiat Money & Rigged Markets

Fiat Money & Rigged Markets

Our fiat money system was designed to fail. The government borrows money from the Federal Reserve with interest attached. As time goes on, the debt compounds and raises exponentially. There comes a a time when that money is impossible to repay unless ever more is created, bringing about hyperinflation. The value of money drops dramatically during hyperinflation due to the massive amount issued by the bank, diluting the existing supply. The only cure is printing more...
Read More
Gold Blockchain Basics

Gold Blockchain Basics

It is difficult to entertain the idea of combining gold with blockchain without a thorough understanding of each. Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country. A gold-backed blockchain system will give great faith in the health and security of our economic engine. Blockchain is a distributed public ledger containing a transaction history. This ledger is stored on multiple systems across a...
Read More

Warning: file_get_contents(http://thegoldchronicle.com/wp-content/uploads/2018/11/file-1.gif): failed to open stream: Cannot assign requested address in /home/thegoldc/public_html/wp-content/themes/alante/header.php on line 123
Get Nord VPN the best VPN

There are many gold misconceptions distributed about. The propaganda is meant to keep us from buying gold. The Federal Reserve is a private institution representing the interests of 12 US banks. The Fed’s foremost agenda is to defend their banking system. Secondarily it represents broad economic interests as mandated by US Congress. Those objectives do not always work in harmony.

Gold is the central bankers Achilles heel. Interest in gold means people are losing faith in the fiat. Bankers will print every piece of paper needed to suppress the price of gold, to keep us from investing in it. Gold is one of the few assets that while the price goes up, people actually buy more. Bankers can’t let it go up in price until the very end of their fiat scam. They will stop at nothing to defend their power over us. Below are some ‘cute’ arguments commonly regurgitated in effort to convince us that gold is silly. You should know, it is those parroting this propaganda whom are the silly and foolish ones.

You can’t eat gold.
Actually you can eat gold, though there’s no nutrition. Money isn’t meant to be eaten though! It’s precisely that gold is not ‘useful’ in being eaten or consumed that it can better serve as a medium of exchange. Barring a scenario where exchanges between people are completely stopped, it is best to have a universal medium of exchange. Precious metals have proven to be the go-to choice though all history.

Energy should be currency.
Oil, coal, radioactive material, solar panels and windmills? These materials have no qualities of money! Important resources like these are consumed, not to be used as currency. Energy is notoriously difficult to store.

The United States Dollar is backed by gold.
Before 1900, we used a bi-metallic system, both silver and gold. President William McKinley signed the Gold Standard Act in 1900, making one paper dollar convertible to 1.5g of gold alone. President Richard Nixon effectively abolished the gold standard in 1971 (“temporarily”, as he stressed at the time). Dollars haven’t been tied to gold since. Since that day in 1971, the price of gold has risen from a fixed price of $35/oz to where it is today, with no connection to the Dollar. We have nothing remotely similar to a gold standard today.

Gold is cumbersome, difficult to store and could be stolen.
1 ton of gold is worth over $35,000,000,000 ($1,200/oz). How many of us are hauling around such an amount of money? The volume to value ratio of gold and dollars are similar. If gold raises to it’s fair value once made money, it very well could be less cumbersome than paper dollars. Many transactions today are done electronically. Gold can be transferred electronically just like the paper money we use today. Gold could be represented on paper, just as the fiat dollars we use today. There are many ways we can transact gold without coins. Further, about being stolen, anything could be stolen! Gold as well as paper dollars, there is no difference. Keep it in a bank and spend it on your debit card if you’re so paranoid. Are you keeping millions of dollars in cash tucked away in your closet, thinking it can’t be stolen?

No one will want gold during an economic crash, buy whisky and toilet paper.
It’s a common misconception that the only way gold MIGHT become money is during an ‘end of the world as we know it’ economic collapse, where people are starving and anarchy reigns. This is propaganda designed to keep those with such a mindset from buying gold. A transfer to a gold-backed money can be smooth and simple. Remember how seemingly simple the the EURO roll-out was? The ‘new’ gold-backed money can stabilize our economy before fiat hyperinflation destroys commerce and civilization totally. If you don’t have gold you will be in dire situation, a slave to the central bankers whom own much of the gold. You will drown yourself in that whisky, wiping your tears away with the toilet paper investments while others drive past with a new Lamborghini, laughing, bought with a bit of gold. Although, plenty love to get drunk and cry about life too.

Gold is a store of value, not an investment.
Under a gold standard or fair markets this would be true. However, Gold is traded as it were of infinite supply on paper while the real supply is quite limited. Anyone can ‘sell’ gold on the market, without having any real gold to sell. Relatively tiny amounts are being traded between bankers, tiny amounts! As a result, the whole share of gold’s value is controlled. Our fiat money and pricing mechanism has little or no correlation with real gold. Gold may quickly and exponentially climb in value against all other assets, especially once a global gold standard is established.

TPTB won’t let gold be money.
They simply won’t have any choice. They likely can not abandon a failed fiat dollar and replace it with another without a commodity backing. Doing so would cause the end of the world as we know it. People would rather trade seashells than accept another fiat after experiencing the disaster of hyperinflation. All the trust and ‘full faith’ concerning their ‘monies’ will be destroyed for a long time. No other country would accept another fiat as valuable or useful to them. Our economy is more global than ever. Countries need a money which is accepted and recognized globally. That is gold. People will realize this, and certain countries will embrace gold as money. Those countries will force everyone else to follow. Any attempt at another fiat will simply be rejected from world trade.

The global economy is trillions of dollars – there is not enough gold.
Trillions of dollars is simply a function of inflation, years ago, it wasn’t such an amount. Our economy could run on much less, if the value of each unit bought more. Fiat is not wealth anyway, but a debt that must eventually be returned to the central banks. This debt is nothing but a unit of exchange and account, the value is only perceived. It’s a mistaken assumption that there is even an optimum amount to be used for trading. No matter the amount of gold in existence, the price of things (priced in gold) will be a reflection of the supply of gold. Gold will simply rise in value against other assets to meet the needed demand while functioning as money. Once gold finds the optimal value for trade, it will become stable for as long as the bankers do not pervert the gold standard again.

Gold is pointless because it’s a sterile, non-productive asset.
This assertion was made popular by Warren Buffett. He liked to compare the value of gold to mega-corps, asking which you would rather own. The problem is, gold should function as money, not like a company or investment. Gold’s value is suppressed in part because it’s not being used as money. Imagine if it were! Money IS suppose to be sterile and stable. A dollar bill laying on your dresser isn’t doing anything neither! It isn’t making you money, you’re actually losing wealth though inflation. The only reason fiat pays interest, dividends, or anything else is because bankers manufactured this – it is not an inherent quality of dollar bills to magically reproduce themselves in your pocket, making you richer. We could very well get paid interest on our gold too, if bankers stored and loaned it. Anything a dollar can do, gold can do too, and better, if bankers wanted that.

The Gold Standard caused depressions, including the Great Depression of the 1930’s.
The idea that western countries were on the gold standard just before the Great Depression is questionable. The US had already begun to increase fiat beyond its gold reserves. Banking officials expanded credit and artificially stimulated markets without creating more jobs. By the time of the crash, bankers already had paper gimmicks in place, and the stock market became inflated too. There is no convincing argument that gold caused it, but rather a phenomena of speculative market crashes and over-lending, which we call bubbles today, unrelated to the gold foundation. As a result of the ‘crash’, FDR senselessly abandoned the gold standard in 1933. He made the public turn in all their gold to the US government, then raised the value of gold, effectively stealing wealth from the public. We were effectively off the gold standard for another 8 years during the Great Depression. It wasn’t until World War II before our economy was ‘fixed’. It’s clear that gold was blamed for the failure while it was really banking schemes in an over-leveraged economy. Further, had gold not been confiscated, the depression may have been very short.

In a true gold standard it should not be left to governments to value the price of gold. Instead, the value of things should be priced in gold via the free market.

589 total views, 191 views today


Warning: file_get_contents(http://banners.bullionvault.com/en/BV_468x60_v1.gif): failed to open stream: Connection refused in /home/thegoldc/public_html/wp-content/themes/alante/single.php on line 19
Buy gold at BullionVault



Warning: file_get_contents(http://thegoldchronicle.com/wp-content/uploads/2018/11/728x90BW-2.png): failed to open stream: Cannot assign requested address in /home/thegoldc/public_html/wp-content/themes/alante/single.php on line 32
Buy Bluehost $3.95 Hosting

Related Reading


Warning: file_get_contents(http://thegoldchronicle.com/wp-content/uploads/2018/11/file-1.gif): failed to open stream: Cannot assign requested address in /home/thegoldc/public_html/wp-content/themes/alante/single.php on line 45
Get Nord VPN the best VPN
You do not need to Login to comment.
avatar
2000
  Subscribe  
Notify of
Scroll Up