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The Chip Board Archive 19

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The video clip suggests that the money needs to be backed by gold. I agree that it needs to ne backed but what to back it with is the question. Gold and sliver have both been used in the past and they are in short supply, other commodities have also been suggested such as oil. Instead of Fort Knox housing gold maybe oil could be held in reserve against the dollar. It is a commodity that is desired worldwide and can be readily traded. Backing dollars with oil has problems as well. There are no easy answers and any changes will be resisted and slow. Not taking action will result in catastrophic problems down the road. The one ray of hope is that humans are resourceful and will deal with problems and survive somehow, I am optimistic. Obama chanted "Change, Change, Change" and I fear that is coming, unfortunately I believe the "Change" may not be what we expect or want, or the "Change" Obama really means.

The world is much like newly weds that discover they have overextended themselves with their credit cards. There are no easy ways out, it is a slow and painful road back with no guarantees all will not be lost on the way.

Messages In This Thread

NCR, Banking.....
Comments....
Regarding Gold...
World gold production
Re: World gold production
Wow - South African production
Re: Comments....
Awesome
Want to see what the effects of the stimulus pkg
Re: Want to see what the effects of the stimulus p
Well said

Copyright 2022 David Spragg