Posted Oct 14, 2015 by Martin Armstrong
“The system is collapsing. It is not because of some derivatives bubble. It is not because of fiat. This is because of the debt gone wild”
Sure! And you don’t see the connection with the lack of a gold standard?
This would never have happened during a gold standard, without someone having gone out of business. Honest money =gold
I think that much should be clear by now.
REPLY: The degree of people indoctrinated with gold propaganda is the greatest threat we have to solving any crisis or advancing in society. They constantly regurgitate this nonsense without any factual proof, relying completely on made up sophistry. We had Bretton Woods that was a gold standard, which collapsed because they tried to peg gold at $35 yet increased the supply of dollars. So where did gold prevent anything?
ANYONE who believes this nonsense that a gold standard will miraculously convert politicians into saints should really just check yourself into an insane asylum. Long before there was paper money, there has always been debt. People borrowed and still had the same leverage on gold for there was more debt owed in gold than there was ever gold.
This rhetoric seriously prevents us from observing a simple fact: there was debt under a gold standard and every gold standard throughout history has collapsed. NOT A SINGLE gold standard ever survived. You just do not understand history. It is the politicians who blow it up, regardless of what you call money.
As long as you argue for this nonsense, we will never advance as a society. If you really believe in returning to a gold standard, which has never worked in history, you will condemn your children the same financial chaos time and time again.
A gold standard would never prevent a debt crisis for money is always LEVERAGED in debt. If you deposit $100 the bank will lend that out to someone else, and two accounts will show $100 when there is only $100 in actual money. It does not matter if that $100 is gold coin, soybeans, cattle, or paper.
If you do not understand the system, you should just hang it up for your solutions will condemn the rest of us to watch you repeat history.