Guest Post by Martin Armstrong
The Neocons have directed the Biden administration to remove Russia from SWIFT. Their single-minded goal is destroying the world economy, but they do not care. They think they will conquer Russia and China and dominate the world so they will worry about the monetary system afterward.
You have to understand that if the BRICS followed that directive and created a single gold-back currency, they would have to end any idea of international trade. This proposal is understandable given the hostility of the United States from the Neocons, who are now in charge. Congress is oblivious to what is happening, and the American public is arguing over Transgender destroying the family unit.
This is not some simple one-dimensional idea that we create a limited-backed currency. That will be DEFLATIONARY and, at the same time, promote civil war in the United States. Politicians cannot run for office, promising endless gifts, forgiving student loans, etc. You cannot have deficits. This would NECESSITATE the end of Marxism once and for all.
This idea of a gold-back currency requires political change on a grand scale. That is coming. Post-2032 will be a new monetary and political system. Before then, they are pushing CBDC, and they will restrict what you can buy or sell, and this is all to retain power because they KNOW they are losing it. But in the process, they are destroying everything. The people who voted for Biden had no clue that they were voting for a coup and the ultimate destruction of Western civilization as we have known it.
I buy gold, but I also understand the game. I do not want gold-back currency; I prefer gold to remain as a hedge against the government. If they back the currency with gold, this time, they will be knocking down every door to confiscate it all.
These Neocons have already divided the world economy in two. They think they will conquer the world. The enemy is within.
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I think that’s the first time I ever heard Martin say he buys gold as insurance…other than ancient coins.
Plus the first time I can remember Martin not outright criticizing a gold-backed currency as a stupid idea.
Sounded to me like he was pretty well against the idea as such.
Martin said he doesn’t want it, because he believes its introduction will be coupled with large-scale gold confiscation [in the West].
That’s a very different thing than saying he finds the general idea completely unworkable.
He did say that but that wasn’t the only reason. It was just one reason. “I do not want gold-back currency;”
Simple statement tied to no reason.
“I prefer gold to remain as a hedge against the government.”
Reason one.
“If they back the currency with gold, this time, they will be knocking down every door to confiscate it all.”
Reason 2. And not even the first reason.
And a couple more even before the above, but both are tied to the hip.
3″This is not some simple one-dimensional idea that we create a limited-backed currency. That will be DEFLATIONARY and, at the same time, promote civil war in the United States.”
4″This idea of a gold-back currency requires political change on a grand scale.”
See 3.
Once again, to me the whole article screams he is against a gold backed currency from start to finish.
You must be reading a different article than I’m reading to think otherwise. shrug
Nice how you omitted the semicolon in
“I do not want gold-back currency; I prefer gold to remain as a hedge against the government.”
$64,000 question: why does one use a semicolon, instead of a full-stop?
on #1: “prefer” is a pretty weak degradation of the other options.
on #3: You forgot to explain why Deflationary would be bad [or where Martin says so], without referring to Keynesian economic bullshit model.
on #4: exactly what Russia and China target.
Yes, he used a semicolon, then he said I prefer it as a hedge. AS IN FIRST ARGUMENT! And 2nd being the gov would confiscate it.
And why would deflation be bad? BECAUSE IT WOULD WRECK THE SYSTEM AND CAUSE CIVIL WAR!
I think I quoted that. sigh
Obviously he thinks that would be a bad thing. OR PEOPLE WOULDN’T HAVE VOTED FOR FJB IF THEY HAD KNOWN THE RESULTS!
Jumping Jehosaphats, it is like talking to a 2 year old.
A semicolon connects two sentences that the writer believed to have a stronger relationship [than the other things he wrote in completely separate sentences].
And you believe backed-by-nothing fiat and with it continued inflation is guaranteed to not “wreck the system” and avoid any second US Civil War??
It is like talking to a 2 year old.
I didn’t say what I thought about events one way or the other. But obviously he does.
No logic in gold confiscation to back a currency unless you can convert that currency back into gold. Without redemption for gold it’s a pointless backing.
Gold and Silver are often called “Honest Money” as well as “Sound Money” which is a double entendre referring to the unique ringing sound it makes and that it is a sound idea. Honesty combined with a good idea does not attract much of a following in the halls of power as the dishonest path of the printing press which they alone control is their primary weapon. Taking it from them must become one of the several greatest priorities. Eliminate the Federal Reserve and rescind all the enabling statutes and restore the Currency Act of 1792.
1. Eliminate the Federal Reserve Note.
2. Replace it with the reinstated Silver Certificate.
3. Start minting 90% silver coins again, adjusted for inflation.
Instead of Dollar, Half Dollar, Quarter and Dimes mint them in increments of Dollars, beginning with the $5.00 coin the size of the old Dime.
I would travel half the World circumference, to buy a US $5 Silver coin(s) They are like Hen’s teeth everywhere .. No, they are even rarer than Chicken molars with Fillings.
Even scrap silver has gone the way of the Dodo Bird.
The best idea is to simply mint coins with their silver content designated as units of weight, such as Troy ounces ( 1/10, 1/4, 1/2, 1, 10, 100, etc ) or grams ( or multiples thereof, like kilograms ). No need to adjust for inflation or deflation. Its value as measured against good and services would adjust with the dynamics of supply and demand in the market place.
That happens no matter what the coin is called. And just because you have a coin marked in troy ounces, doesn’t guarantee that it is. That is why people keep scales about, especially when doing a lot of business with specie.
Here’s a snippet from Dmitri Orlov’s latest post (I verified this, btw):
“Here’s an exercise you can easily perform. Go to translate.google.com. In the left-hand pane, select “English” and in the right-hand pane, “Chinese (Simplified)” (or “Traditional” if you like extra strokes). Now, in the left hand pane, type BRICS. What you will then see in the right-hand pane is this:
金砖国家
(Jīn zhuān guójiā)
Now you are ready to meditate on the meaning of each character.
金 (jīn) = gold
砖 (zhuān) = brick
国 (guó) = country
家 (jiā) = home
A bit more digging will allow you to establish that 国家 (guó jiā) translates simply as “countries”.
And there you have it: BRICS = “Gold Brick Countries”. Isn’t that pretty?”