Telegraph: Return of the Gold Standard as world order unravels

Ambrose Evans-Pritchard details the smell of the roses as the World fiat monetary system slowly unravels in front of our eyes.

Its death cannot come soon enough:

“It is very scary: the flight to gold is accelerating at a faster and faster speed,” said Peter Hambro, chairman of Britain’s biggest pure gold listing Petropavlovsk.

“One of the big US banks texted me today to say that if QE3 actually happens, we could see gold at $5,000 and silver at $1,000. I feel terribly sorry for anybody on fixed incomes tied to a fiat currency because they are not going to be able to buy things with that paper money.”

What are they all so scared of? Gold has been money for 6,000 years, and it will continue to be money for possibly thousands more, until perhaps the cost of energy comes down so much that the millions of tons of gold in the world’s oceans can be extracted easily and conveniently and something else becomes humanity’s favourite money.

Why don’t they just all do it now, and save all this pain that’s going to be caused by putting it off?

It’s either going to be gold money again, or world fascism. One gets the feeling that the world’s ruling class would prefer world fascism, rather than give up their ability to print money out of thin air.

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About Andy Duncan

An Austrian Internet Vigilante trying to live Outside the Asylum
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7 Responses to Telegraph: Return of the Gold Standard as world order unravels

  1. Mike says:

    “It’s either going to be gold money again, or world fascism. One gets the feeling that the world’s ruling class would prefer world fascism, rather than give up their ability to print money out of thin air.”

    Then why hope it dies quickly? I hope it does not because the powers that be are certainly not going back to a gold standard.

  2. TOM says:

    Obviously, the global central bankers want global Fascism…In Amerika, Obama is already picking the global corporations that will survive in the future with the Fascist Parasite from GE Jeffrey Immelt as his Minister of Industry. Obama is doing exactlly what he is told to do and their idea of One-World-Government is a Fascist system where they control what is being produced. Both Rockefeller and Rothschild have been speaking of human population control thru control of energy and food production and the Food Safety Bill that passed in the USA Hall of Political Terrorists in DC (Congress, – As they like to call the place) is designed to restrict farmers from growing food without Political Terrorist approval. We are going to have our “carbon footprint” reduced by force until we are boiling rocks for soup…The Political Terrorists have absolute power over every human on earth with their fiat money, armies, jails, nukes, planes, drones, battleships, etc. and they know it.

  3. P.M.Lawrence says:

    Gold has been money for 6,000 years…

    No, it hasn’t. Human history – written records, that is – only go back about 5,000 years anyway. Even with the help of archaeology and oral tradition (later recorded by the Greeks), we know that money itself – a circulating medium of exchange – only goes back less than 3,000 years, to the kingdom of Lydia in ancient Asia Minor, and that wasn’t even gold yet but primitive coins made of a silver-gold alloy called electrum, more like stamped and certified mini-ingots roughly in the shape of beads (the modern form of coins was almost fully developed by Alexander the Great’s time, apart from not yet having milled and raised edges to discourage clipping and facilitate stacking). Before that, gold was valuable, and was often bartered for its end use value in the same way that grain was and so sometimes served some of the functions of money, but it didn’t have the two (related) crucial features of money: being valued in any exchange not only for itself but also for its use in further exchanges; and, circulating round and round in an indefinitely continuing chain of exchanges with no definite termination in an end use as happened to grain (although bullion coin often is melted down for end uses, that’s not a definite end for it).

    • Andy Duncan says:

      Electrum coins have been found on Aegina, an island near Athens, from 700BC, before those coins stamped by Croesus in Lydia, circa 650BC. (Always be very suspicious when the state – in this case King Croesus – claims to have invented something de novo, from thin air). And those coins in Aegina didn’t just materialise from thin air, with all of the technological constraints required to find, smelt, divide, and stamp the gold, silver, and electrum alloys.

      Although not coins, which I’ll give you, the Egyptians also used small gold ingots of defined weights, as money, in the 4th Millennium BC (giving us our 6,000) years, as did perhaps the Mesopotamians and Chinese, though the Mesopotamians did prefer silver (which they used even earlier than the Egyptian gold bars), and the Chinese did also use Cowry shells in very early times.

      But when you discover gold and silver, you soon drop Cowry shells.

      And that’s just what has been discovered by archaeologists.

      I’m fairly certain myself, personally, that gold nuggets, discovered in streams, have been used a lot longer for money than even 4,000BC, probably from the neolithic times onward, though the blurring of direct barter into indirect money exchange is perhaps an interesting topic of study for someone. Though this will be difficult, as virtually all of those early gold nuggets will have been smelted into other gold objects, over time, and will probably all be sitting in a vault somewhere, melted down with many of their fellows into gold bars.

      But please just let’s stop there, P.M.Lawrence, and agree to differ, if you don’t mind. I’ve never really found pedantry interesting, especially with people who use initials instead of first names. Life really is too short.

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