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Bob Kneisley

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In 1970 President R. Nixon "temporarily" suspended the U.S. Gold Standard. In order to control inflation should we consider that system now?

President Nixon was embroiled in the Watergate scandal that stole the media headlines... so most Americans did not notice the abandonment of the Gold Standard. Since the standard was suspended, as now, inflation has risen each year.
Obviously, the rise of inflation is like a "tax" that siphons buying power from our citizens on a daily basis. Congress' spending was curtailed by the Gold Standard. Spending needs to be controlled today. Your thoughts?

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  • Apr 25 2013: Some History about money and governments...
    The US from about 1870 until 1913, suffered little, and was on the gold standard. Controlled by a Gang of nations that agreed to agree.
    They kept money, government, and trade stable.
    Not a bad time to be alive in America.

    Then came WW1 and the greed.
    In the year 1913, the FBI, replaced the evil-outlawed Pinkerton's to become the enforcer/protector of bank interests.
    In the year 1913, the IRS, was given teeth as tax collector.
    Coincidence?

    A few more years passed, the economy was on a roller-coaster, and after 3 tries, congress selected a Central Bank that we all know today as the FED.
    The FED's job was to keep our economy fit as a fiddle with jobs galore.

    Limited Liability Laws were created by congress to protect the Wealthy.
    and, to keep them out of jail when they stole too much.

    Regulators were "Good ole Boy's", appointed from the most successful in their individual fields. The SEC was created to regulate "the little guys".
    ===
    So, Now I can get around to my point.
    The Government has control and/or possession of the Gold and it's supply.
    The Government has control of the Printing and Supply of the fiat money.

    We can talk all day about changing things.
    Opines can be expressed.
    Nothing will happen.

    This stuff is set in stone.
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      Apr 25 2013: Hi Frank!

      Thanks for the history lesson. I agree.

      Bob

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