Why the Fed can ‘print the money anyways’ 💸 #shorts #podcast
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Not for long.
Trump 2024
Yup just like he did his term…
Oh wait no he actually threatened to fire Powell if he didn’t keep interest rates low AND he spent more money than Biden😂
@@DrHughMonguscoque lol. You’re confident in your ignorance, I’ll give you that, “Dr”.
Safe and effective right?
16 august 1971 will be remember for ever in the history of human being
@@waleedmughal1893
“April 5, 1933, President Franklin D. Roosevelt issued Executive Order 6102, forever reshaping America’s monetary system. This controversial order marked a pivotal moment in the nation’s financial history. Executive Order 6102 banned private ownership of gold coins, bullion, and gold certificates with the penalty for noncompliance being up to ten years in prison, a fine of $10,000, or both. This draconian edict also signaled the effective end of the gold standard.”
There is not enough gold to cover the currency in circulation. The US economy created more wealth than we could mine gold. I don’t like inflation either, but we had to come off the gold standard or we would have run out of currency to run the economy.
So your logic is there is not enough gold to replace or be pegged to something literally worth nothing? Explain that to me?
@steve-sg3uz Gold backed money is always better. Let’s start there. If we went back to the gold standard today and the US government owned all refined known gold in the world, the govt would have about 10 trillion dollars in gold. That means it could only issue 10 trillion in currency. Last year the US GDP was almost 29 trillion dollars, which means the govt. would be short 19 trillion dollars in gold. Had we stayed on the gold standard, we would have limited our ability to borrow money to grow the economy because you could not borrow money unless there was gold backing that money.
@@Steve-sg3uz There is only 10 Trillion dollars in refined gold globally. Last year, the US GDP was 29 trillion. Even if the US had all the refined gold in the world, it would not be enough to cover all value our economy creates. I would much rather have gold backed currency too, but there just isn’t enough of it.
The answer is easy. They just default, which they are doing already with inflation, by either going with a new gold backed dollar or just saying their gold is worth X and one dollar buys x ounces.
It’s a crooked system already. Why would you think they are going to do the right thing in any swap or conversion?
US never really was on a gold standard. The full faith and credit of the US govt has always “backed” the dollar.
Full faith and credit
All Leaders on Earth Unleashed VAXULA upon THEIR OWN CITIZENS Funded by Central Banksters with Your Pensions or Grandchildren’s future Labor
Silly!
Sorry who is this guy?