Video Request-Feasibility of Commodity Backed Currencies

Alex wants to know what Cappy thinks of returning to the gold standard and if it's feasible. Cappy explains what a "commodity backed currency" is and how it's possible to go back to one, without sacrificing today's technology. Got questions? Cappy's got answers! Some may even be right! http://www.assholeconsulting.com

Comments

1. die hard 3 dude :D
2. Aaron, have you ever auditioned for voice acting roles? You seem to have a talent for it. lol.
3. Problem is cappy, there is currently 18trillion of debt, add to that the current billionaires in America gates, soros, rockefellers, ect ect America would need 30-50 trillion in gold silver ect ect to balance the current assists in America that alone would send gold to 10-20 thousand per ounce maybe even higher just saying . What do you think?
4. Commodity backed currencies ahve also failed to date.
   Manipulation will occur because of Man, not because of currencies. Inflation is NOT the biggest issue, no matter how many times you repeat this.
5. excellent.  I'd add a recommendation for Jim Rickard's two books.
6. The problem with gold is that it doesn`t have immediate application, so countries are basically stacking  a metal whose value is mostly based on belief and sentiment. Instead, or besides, we should tie dollar to Kwh, so every person could exchange his money for electricity, or sell it to other companies at any moment. The value should be tied or  with a narrow corridor. And as far as I know electricity has immediate and real application value, especially today, when electrical appliances are everywhere. production of electricity is not dependent on  competitive skills , weather or emotional cache, so it would be pretty fucking stable in its value.
7. Die Hard 3 not 2.  
   
   Get your facts straight Cappy!
8. Cigarette as currency works better than gold. easily divisible, and inflation could never happen
9. Gold standard is AYN RAND bull shit being parroted by hoodwinked kooks.. period.
   
   Dude, you don't know what you are talking about at all. Usury causes inflation not fiat.
   The tally stick was fiat.. lasted 700 years.. never failed. Usury caused all systems of money to fail. Commodity money can not keep up with credit on demand so you get fraud in fractional reserve lending.. basically ruining any idea that the commodity matters.. it doesn't.. anyway.
   Fiat is the BEST way to grease the wheels of commerce.
   We just need to get rid of the Shylok usury bankers.
   Book to read, "Out of debt, out of danger" Congressman Jerry Voorhis
   you hand the FED a coin that says 17 trillion on it.. and then say goodbye.. don't need you anymore.. we got this... just like Lincoln did.
   Then, you issue your own government decree fiat without usury. You make money a public utility. Interest on loans would cover overhead for the lending institution only. Banks, etc. are nationalized.. no walstreet banks! Money is only a reflection of Labor/growth potential based on credit/character. It can grow with demand in real time. No other currency can do that without fraud.
   If you want to feel your ass get raped by an elephant dick.. go back to a gold standard.
10. Have the gold where everyone can see it and audit it, search for wallet in a circle one YouTube, security is where everyone can see you steal it.
11. What do you guys think of ripple coin, by ripple labs.
12. Old man Clarey is losing his mind, it was Diehard 3 not 2.
13. You mentionned that we had to make sure that we print as many notes as we hold gold, but what i don't understand is what would insure that the politicians or bankers don't print more notes than there is gold, and still ending up with an inflation problem.
    
    The only way i see it is if the Reserve was legally forced to exchange the amount of gold whenever a citizen holding notes asks for so... but that would only work assuming that the State would follow its own rules.
    
    By the way, it's Die Hard 3, not 2 :)
14. Prior to 1971 you could ONLY get silver. Gold was outlawed in the early 30s, if you recall. ONLY foreign central banks could go to the fed and exchange dollars for gold. The French who dumped Vietnam on us were primarily the ones who forced us off that standard because of all the dollars we printed in the 60s when we were under a gold standard.
15. There is no theoretical limit to the number of bit coin slices though. 121 million coins can be divided infinitely. There has been hyperinflation under gold in Portugal from all the gold they stole from S. America. The Wiemar Republic's hyperinflation was deliberate and the French were stealing their stuff, especially coal, there were strikes all over the country (before the hyperinflation) and other problems. Even in the US, the backing of paper money was only partially gold, I think it was 60/40 paper (loans)/gold backing.
16. You should have a Amazon affiliate link in the video when you talk about the book. Get paid when people buy on your recommendation.
17. Hey Mr. Clarey where is your corvette video? I can't see it anymore and I wanted to see it. Thanks!
18. What happened to the Corvette video?