Will We Ever See a Gold Backed Currency?



For thousands of years, silver and gold were seen as money, not just a metal or a commodity. However, in the last 45 years, the US has been on a fiat currency system. We know, of course, that in the end, all fiat currencies come to an end. However, the question then becomes: Will we ever have a gold backed currency, either here in the States, or elsewhere in the world? Tell me what you think! Enjoy my videos? Donate in Bitcoin: 1P94S6U6Upob4gjH1HwfnNcYqGmW2gUbr1 Support my channel on Patreon: https://www.patreon.com/silverfortune

Comments

  1. Yes, we MUST go back to a monetary standard. It will probably be gold or silver because it has to be something that is universally excepted. There is only two types of currency. Either substance backed currency or fiat. If we don't have some money standard (gold standard), then we must have a fiat currency. We will have to go back to a standard in order to gain the peoples trust. It is like a swing of the pendulum. It will probably not be a 100% standard, but it does not have to be. There just need to be some type of restrain in order to keep governments from printing money at will. That's my thoughts.
  2. We 'could' move back to the Gold Standard, but using today's currency/dollar value and taking into consideration our current national debt (20 Trillion dollars) as well as the total amount of gold currently above ground in the world, Gold would have to be valued somewhere around $90,000/oz and silver would have to be close to $10,000/oz. So, to move back to the Gold Standard, we would most likely have to have a complete collapse of the dollar and a world wide financial collapse, followed by a complete reset using gold as the world wide monetary standard. It would be nice if (Trump?) the U.S. would just take the lead and put this country back on the gold standard, but highly unlikely.
  3. Can't back your currency in gold and silver when your damn near 20 trillion dollars in debt. Well u could but China would own a good portion of it.
  4. What do you mean by "not feasible"?
  5. A digital will result in total control of government over our lives.
    A digital currency would result in enslavement.
    Government would know about every aspect of our lives.
    Government would be able to manage how much food we buy,
    the clothes we wear. The housing placement. Every aspect.
  6. Just wanted to drop by and say thanks for your uploads, I concur with most of what you say in your videos. It's great to hear a point of view that is more leveled instead of the usual fearporn and silver pushers' point of view. FYI, I am thoroughly enjoying the price dip! I look at these dips as silver being on 'sale' and it makes the process that much more fun lol! ;)
  7. Question would coin currency be better then bill currency with the aid of digital currency.
  8. I think we will see a gold backed currency system. The reason is because the world including Russia, China, India etc... have had enough of the U.S's monopoly over the worlds economy due to the Dollar being the worlds reserve currency. If the BRIC nations move to a gold backed system then the west and especially the U.S will have to move to the same system or it will cave in on it self. All it takes is for a certain number or certain nations (BRIC'S Nation) to stop trading in the dollar and the U.S's economy will crumble. This is the exact reason why our governments eliminated the Saddam, Gaddafi and now Assad's regime's, because they stopped excepting the Dollar as payment and instead moved to the Euro and gold. If this would have spread as it looked like it would the U.S and all western nations who rely on the fiat Dollar would have started to crumble and eventually move to a gold standard or die. Personally i think the world has no other option when the U.S's time on the top is over just like all other empires including the British and Roman empires. There are already many signs showing that the U.S is already in decline and the new big boy on the block will be China and the Chinese will want a gold/silver security protective blanket.
  9. I think we could, should, but won't.
  10. I think it will be horribly painful should commerce comes to a complete stop. Gold would be in a critical shortage and would naturally fall upon other hard assets like Silver, wheat, oil, etc. People just wont trust fiat currency for decades to come if ever. Supply chains may have stopped but Infrastructure for exchange remains intact so it would be a matter establishing a fair and reliable exchange intermediaries. And that would take time to transition, a lot of hard choices but as long its not the same corrupt people that ran the previous show. The phrase "Major Depression" may be understating it considering the size and depth of the current world finances that are comparable to a rotting corpse on life support, God help us.
  11. no, we wont, the powers that be have drank too deeply of the paper cup, and they aren't ever going to let go of the power it gives them. I think what we will end up with are digital credits, no physical cash, and then god help us all...
  12. I think it's definitely possible there will be a gold/silver currency but they'll need to select denominations for the silver/gold into a "value". So either the gold will need to be worth X ounces of silver or something to get prices to equal out. There might also need to be a paper version currency to take place of the fractional values. It'd definitely be a big transition and I  know many would kill themselves instantly going broke because they focus on the paper currencies. You never know though!
  13. I just had this conversion at work. I don't think the world would survive on a gold standard because of the amount that would be needed. I think society would suffer greatly if we did. I do think it would do good overall to try, ie clearing the underbrush, but it would be a major recession which would lead to deaths, joblessness, and homelessness.


Additional Information:

Visibility: 988

Duration: 7m 42s

Rating: 19