I was hoping you could present the actual Nixon quote and explain what he meant in the global context of 1971. Or is that beyond your abilities?
But it now seems to me that Gold itself is being defended against speculators.
How? By who?
I don't have facts offhand to back this up except my belief that Gold is and was the only real money that is not debt-based and thus someone else's obligation. Note how much Gold is held by countries:
Irrelevant. Gold is a commodity. So is oil. That is why we have the strategic oil reserve. Gold is not a currency it is a commodity.
If a man has gold, and the value was allowed unfettered market speculation, he could profit from inflated currencies and also hide his true assets from government oversight.
You can have gold. All you want. How are you going to spend it? What are you going to do when speculators drive the price up and down. Ever hear of the Hunt brothers and silver?
Because Gold holds its value much better than either currencies or blockchains. This is true of hard assets like commodities in general
Really? Provide evidence.
though Gold is the backbone of Central Bank backing.
Really? Provide source for this.
If one buys small quantities of precious metals they slip below the radar and are not liable for capital gains.
How does owning gold make you liable for capital gains? Do you understand the tax system?
There may be points where a bail-in is the best of all possible options. Do you know of any real-world examples in the US or is this just something you heard on youtube?
Money that is not subject to government control in order to bail out the system through bailing in the assets of banks.
There is not money without government. Please define public vs private money.
Let's just say I'm paranoid of being controlled.
By who? Sounds like you are simply mentally ill.
I'm honest apart from the fact that some things should be kept private and not part of a giant pool of money controlled by governments.
I am still confused by what you mean by that it it sounds like you are too.
Gold still backs fiat money indirectly
How? If the US liquidated all its gold what do you think would happen? What if we sold all of the oil we own or all of every other commodity the US owns?
A 5000-year track record is nothing to dismiss so lightly, however.
How has that track record compared with other commodities and currencies?
You have not answered anything I asked with sources and data. All you have done is recite things you heard on youtube with absolutely nothing to support your wild-ass ravings. Typical. How do you expect anyone to treat you seriously when you cannot support even your most basic claims?
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Edited by Theodoric, : spell no correctly
Edited by Theodoric, : Date
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens
Facts don't lie or have an agenda. Facts are just facts
"God did it" is not an argument. It is an excuse for intellectual laziness.
If your viewpoint has merits and facts to back it up why would you have to lie?
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