...the ultimate solution in our future to make sure this never happens in our country again is to neutralize the fed and create money with some type of standard.
Once again matsop goes off half cocked and spews forth a voluminous but impotent spray of polished words. Just like any politician interested only in votes, it all sounds wonderfully simple until the brick wall of reality suddenly finds itself in front of his speedy train to financial ruin.
The fact is that the economy is already intrinsically tied to speculative investments in futures, derivatives and inflated real estate values, etc., all of which were already based on perceived value of commodities and assets. Just like gold, their value goes up and down with the whims of the free market and long gone are the days when this will ever be stabilized.
We now live in a global economy and that fact alone will prevent any material commodity from ever controlling the world economy again. The reason for this is very simple. It all comes down to a history lesson learned over the past couple of centuries.
The value of gold and silver was artificial from the start. What made it a monetary standard in the first place was brisk international trade between the East and the West just before the time of Columbus. With the dawn of the Renaissance, wealth and opulence soon overtook the feudal system and the middle class began lusting for the finery that was China's legacy. The Europeans unfortunately had nothing besides the ship builders and clock makers that China wanted in exchange for their silk, porcelain, culinary arts, agri-technology and medicine. One of the few things China did want was gold and silver. This spawned the conquistadors who determined that the path to the riches of the east was to murder and enslave the natives of the new world and confiscate those precious metals. When those ran out, the Europeans created a new opiate of the masses in China, Opium itself.
It all worked out fairly well until communism beat out the imperialists, banned the drugs and private holdings of vast amounts of land. Eventually capitalism replaced rape, plunder and pillage as a means of capital gain not just in America, but the communist countries as well. The truth of the matter is that there is not enough gold in the world to sustain international trade nor is there the demand that there once was in the east for our ill-begotten metals. Food and energy is now king, and that will never revert in our tiny life spans as the population continues to balloon.
The fact is we can't just keep repackaging loans forever, nor can we replace loan debts with gold. The only thing that will save America is the down sizing of big business monopolies and the total, unhampered financial collapse of the banking industry. The only way this will ever be accomplished is with the correct action by the federal reserve which is to quit meddling and start prosecuting the crooks that perpetrated the greatest robbery in the history of the world.
