I've read and listened to Ron Paul for a good many years now. In a way I'm glad I will be alive to see all his predictions come true.

BP is the perfect example of the clowns we got running corporations and government. When the proverbial hits the fan, no one knows what to do, except the likes of Peter Schiff and Co.
I'm only a very small business, but I have never been allowed to run my business the way Govt run theirs, how come?

Mr. Paul, I read your articles in AFP and many other sources. I hope it won`t take as long for the rest of America as it took me to realize that the truth can be found in alternative media. I am a supporter of your Campaign for Liberty.

@ C J Coates

"I haven't heard (Dr Paul or Mr. Schiff, or other knowledge supporters) talk of the best way the Gold Standard/precious metal should be brought back,"


For gold to be reintroduced as money I think it will first need to be used electronically in grams and micro grams of a 99.99% purity just because it will probably be too expensive to use for everyday purchases in its solid form. Today in Australian dollars gold is close to $50 a gram so taken to 4 decimal places 0.0001 gram of gold is equal to about 5 cents. Should gold get up to $500 a gram (about $15000 an ounce) then 0.0001 gram is going to be worth 50 cents. This amount is just a speck of gold and by itself is possibly too small to trade physically but electronically easily done.

This is where silver comes in handy. Silver at a 99.99% purity is about AUD$700 a kilo so 1.0 gram is equal to 70 cents and 0.0001 grams to 0.0007 cents so once the prices settle down a gram of silver comes in handy.

Small amounts of both these metals can be easily placed inside a plastic coin with a transparent centre so the metal is visible. These coins can supposedly be used in vending machines with a laser reader which can indentify the metal, its purity and even its weight.

The real problem is when the crash comes how are people going to trade what metal they have for food? Antal Fekete says that all the mints must open to accept the peoples gold and silver and change it to coin. This would be necessary if people only had jewelry and it would need to be refined but this could take too long so in the mean time everyone should be given a small amount of gold and silver electronically just to keep the food halls open. This could be transferred form buyer to seller using Internet computers or cell phones while they wait for their purified gold to be delivered. The real problem here will be keeping the Internet infrastructure alive.


I've built a web site where it is possible to buy or sell goods using either gold or silver in grams to 4 decimal places using my micro payment system that I developed for my spam free email system. Ideally everyone should be buying bullion right now but most either cant afford to or more lightly dont believe the fiat system will crash. Using my system I set it up so amounts of either metal can be purchased from AUD$50 upwards. So far in the last 6 months no one has made a single purchase.

Excerpt from What is the Primary Fundamental Right?

The sale of all roads owned by the various US governments could be very profitable to the US citizens as roads are really hidden assets of immense value especially if the lanes were sold separately to the highest bidder and paid for in gold. There is no way of knowing their true worth without selling them but most toll ways cost roughly $50 million per 3 lane mile to build.
As there is about 40,000 miles of government owned freeways in the US then their value should be more than that cost, which is about $2 trillion. If they were now worth $3 trillion and there are 300 million American citizens (2008) then each citizen could receive about $10,000 in gold from their sale.
Also there is about 3.7 million miles of ordinary roads which could be sold for maybe $5 million per mile giving every American citizen another $60,000 worth of gold. So a family of four could possibly receive about $250,000 of gold from the sale of all the roads in the USA, more than enough to pay for any toll charges over their life time. Also there are all the harbors and railways and various buildings such as schools and offices, plus all the land, the motor vehicles, the planes, all owned by governments that would need to be sold for gold and the money given to the US citizens.
Click to view link

@Dave Murry
Very thankful for the coin link.
@Philip Mccormack
Thanks for the link.

As usual very well put Dr. Paul. On the topic, I would like to let fellow readers know of a great way to help the cause. It is the "end the fed" 1 oz 0.999 fine silver coins. It's a pretty good deal (approx $35/ea) and it will be a quite the souvenir!

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I love the back of the coin; 97 years on the job & 97% dollar depreciation!

@Scott Shock

Thanks for posting the website.

Too much talk and not enough action by pro real money/Austrian economics communiting. These types of merchants need greater exposure.

If you want to know how the gold standard will work read the latest article of Prof Antal Fekete, always pearls like "gold is not an investment it is an insurance".

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Read learn and inwardly digest and send it to the politicians. Love and affection Philip

As usual, Ron Paul makes good sense. Ron, Please keep on exposing the corps. and their power. Thanks from a loyal fan of Ron Raul and The Daily Bell.

Bartering works well for local goods and services. I dont percieve mailing gold, silver, or fiat money to China to pay for stuff as working very well. Maybe it would force many of the jobs now in China back to the local level.

Reply from The Daily Bell

No. You misunderstand. In a private market money economy people would issue private notes representing the gold and silver on hand. Eventually international institutions would spring up that would provide money notes. But you are correct. Much of what is seen as international trade might be viewed as unnecessary forced trade. In a free-market world, companies would likely be smaller, linkages between small companies more predominant and relationships between companies of different nations would be personal and probably evolve more slowly than at the present pace.

Real money is here in northern Maine USSA. It is not uncommon for fishermen to pay their bills in fish. A photographer friend just gave a nice lobster dinner party because he had photographed the lobsterman's daughter's wedding.

Reply from The Daily Bell

Yes, gold and silver, especially, have been reduced as the vocabulary of money. This is what people now use. Crustaceans.

@Steve H on 6/8/2010 6:23:44 AM

"if we had a dual system of exchange of gold and silver developed along side this deteriorating one it could take on a life of it's own and help society during the period between collapse of the old system and the beginning of the new one."

Such a system is well in development. See the American Open Currency Standard at Click to view link to learn about silver-based barter.

Dr. Paul is of course correct in his statement that governments, especially Liberal Socialist governements hate gold. For this reason, Hitler and Roosevelt both, had to deny the citizenry the right to hold gold. Gold limits the ammount of currency a given government can issue. Fiat currencies, although ALL have failed eventually, as will our Dollar, are much prefered as all that's needed can be printed. Of course, this will result in the eventual collapse of our currency, but by then, Obama and his thugs will not much care.

Dr Paul, you are far too intelligent and honest to ever be the President of the USA.

Does anyone have experience with e-gold? Or a similar product.
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@Steve H

Yes,what you say would work. I agree for sure, it would. Perhaps if we all just start advertising -will accept gold-, it will catch on.

Perhaps the people should demand that all government spending is in line with the gold standard..(at least the government should use it for their book-keeping.) (Basically I dont know if that could work,government money and capitalistic derived money.) But you get my drift I hope.

But what I would really like to see, are our heros, Dr Paul, Mr Schiff and other noteable economists that support this thinking, (plus all the Tea Party politicans) I would like to see them all accepting precious metals at their companies,on their web sites for their campaigns and so on. Now that would send a message.

Have a good day, everyone.

I found this old(hopefully outdated) article from Greenspan about the return to gold standard.

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I have been reading DB for alittle over a year now, and WOW! have I learned alot - Thank-you so much. I have a question for you or anyone else who reads this. If gold goes to 5,000 to 10,000 an oz, within the next 5-10 years, What do you predict or foresee the price of silver in the next 5-10 years? Thank you, again.
LT

Reply from The Daily Bell

The modern ratio is said to be around16-to-one.

Dr Paul,

I'm sure you have a suspicion that the 'Gold' in Fort Knox is mostly gone, having been secretly placed on the market to create a 'strong' dollar; what a misplaced idea? I think its the short term nature of the Presidency (four years), which doesn't allow the executive time to think long term and really get a grip on what is going on with Gold, and so defers to the FED regarding monetary policy.

In France the Presidential term is seven years and look at how France has husbanded its' Gold and told the FED to take a hike.

With seven years French Presidents think long term, and very often they are re-elected giving them fourteen years at the Helm of State; ample time to plan long term without having to worry about short term popularity.

Also with this crazy ruling by the US Supreme Court that Corporations are people, every Presidential Election gives Bankers the right to finance candidates; Goldman Sachs came up with a million dollars for Barack Obama, who I would judge is an honest politician (based on the old definition of 'honest politician'). So even if this successful candidate had the intellectual ability and latent desire to sort out the long term fiscal problems of the US, I think he would be obliged to listen to his backers. We know that Barack Obama listens to Goldman Sachs all the time, because he has surrounded himself with Goldman Sachs Alumni.

What we need is a hundred politicians in Washington with your attitude to control these Banksters.

@Cj Coates

Good points.

I'm expecting/hoping that as people start to lose confidence in their currencies, start to question what money really is and if we had a dual system of exchange of gold and silver developed along side this deteriorating one it could take on a life of it's own and help society during the period between collapse of the old system and the beginning of the new one.

I accept it will not be practical to rol1 back the last 100 years of globalisation and revert to physical gold and silver forever but we will be at the elites total disposal if we do not start to develop a grass roots means of exchange before it's too late. The elite will happily make life as miserable as possible in the interim that we will happily submit to whatever currency system they have in mind for us.

@DB
The questions are addressed to all, but firstly to the author. I havent heard (Dr Paul or Mr Schiff, or other knowledge supportors) talk of the best way the Gold Standard/precious metal should be brought back, and that is important to the argument,as I cant explain to my family of naysayers, how it can easily come into exsistance. DB, Please direct me to any articles in your archive that shed light on how it can be implemented in tomorrows monetary system.
@Steve H
I know what you mean about accepting real money for products.
My business partner has discussed this with our business. We are in a very knowledgeable precious metal community and know that it would work here, but when we have to pay, salaries and product with cash, we need to have a marketing plan to accept precious metals with a twist, so that we dont, become cash strapped!! I mean if you had a unlimited company budget...accepting precious metals would be a whole lot easier, regarding paying salaries and so on.

The reason the elites hate Gold is because they could never inflate their way into their constituents Click to view link's all about power and control. When the "sheeple" realize this then something will be done but not before.