All the time, I keep hearing that we need a Currency that is Backed by Gold...
I say, forget the Gold...
Gold is "nothing" without the People, who gives it Value...
I want a New Trade Dollar that is Backed by "We The People"...
In other words, we back the Trade Dollar and Coinage, and our Money will back everything else...
Money is a "means" to Facilitate Trades...
If you want to buy Gold, guess what...???
The Trade Dollar will facilitate that trade...
So, now that we've established the fact that our Money can be Backed by We the People, let's see if we can use it to our Benefit...
I say we use the Trade Dollars to gather up all the Federal Reserve Notes, from "around" the World...
The reason I say this is because. as long as those Debt Notes are Circulating around the World, "we" will remain in Debt...
They're being used outside our Country, and guess who's paying the interest...???
So I say...
Gather them "all" up and "return" them to their Legal Owners as payment of Debt...
Those returned shall be Destroyed, never to be used again...
I would call for a Redemption Period, to give everyone "ample" time to Exchange their Federal Reserve Notes for U.S. Trade Dollars...
The Federal Reserve Notes not Redeemed by the end of the Redemption Period, shall become Void of any Legal Tender Status and counted as payment of Debt...
For all we know, "many" could have been destroyed years ago, but guess who's "still" paying the interest on them...???
The Exchange Rate will be 100 Federal Reserve Note Dollars will get you "one" U.S Trade Dollar...
That will fit in perfectly with the 100 Fold increase in Purchasing Power of our U.S. Coinage...
I suppose there are a lot of you who haven't read about my Pocket Change and Trade Dollar Theories...
We've all been hearing about the Collapse of the Dollar, right...???
Well, as per my P.C. Theory, our U.S. Coinage will (by an Emergency Executive Order) be Reset in Value to reflect the last one percent or Purchasing Power, remaining in the Federal Reserve Note Dollars...
This will require a 100 Fold increase of Buying Power, in our U.S. Coinage...
So, to make a long Story short, we will use our Coinage and the new Trade Dollars to pay off the National Debt...
Everything will be Reset, including your Wages, Debt, and Property Values...
If my Theory is correct, it may be wise to be holding some Physical U.S. Coinage "before" the Reset...
All opinions are welcomed...
COIN MAN by @pocketechange ...A penny may cost you a dollar bill...
I am not sure I follow.
If a currency is backed by gold then that means people can exchange said currency with gold. So backed by people mean what, currency can be exchanged for a person's labour?
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Gold is nothing without the People who bring Value to it... Yes, you'll be able to go out and Buy Gold with the (yet to be printed) U.S. Trade Dollars... You're buying Gold and Silver now, using Debt Notes... What the Trade Dollar does, is gives us a Medium of Exchange, to Make Trades... And if you're visiting other Countries, you'll be able to Exchange them for the Local Currency... In other words... We Back the Trade Dollars, and the Trade Dollars back all our Transactions... Our Wages will Prove to the World that our Coinage and Trade Dollars have the Value we spend a lot of our Time, Working to Obtain... I'm sure the Trade Dollar will be well received by the World Trade Centers... This time around, they will use it by Choice, not by Force...
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The case with gold is it can be audited by a third party to verify that it is there. The backing as I understand it is really a cap on how much currency is issued more than anything else. A fiat currency loses purchasing power because the currency base expands faster than real economic growth, so more currency chases less goods and services. Say we use a fixed amount of currency then price should go down as economy / productivity grow. The problem is expanding currency supply too fast. If you walk into a bank and ask for a loan they want some asset to hold or put a lien on. So why should the CB be able to create counterfeit dollar with no real asset. The whole gold case is for the people a fixed currency supply is better and having currency tied to how much asset (gold) they have is the key to keep these crooks honest and not create paper backed by empty promise and called them FRN...
How does the trade dollar model prevent abuse via printing?
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I'm more worried about paying interest on Federal Reserve Notes that are Circulating all around the World... As long as they Circulate, we're on the Hook to Pay their Owners interest on them... I'm sure you realize, I'm against the FED... The Reason the Federal Reserve caused inflation, was to put us all in Higher Income Tax Brackets, with less Purchasing Power... I'm tired of paying them interest on Debt Notes, that don't even belong to us... They're all Borrowed into Existence... I take it, you're more concerned about our money being backed by Gold than for us to have our own Debt Free Money...??? You'll never see Gold in our Circulating Coinage, ever again... I'm starting to wonder if you read my post... The Trade Dollars "stop" the abuse that's been going on for Decades... I'm tired of being Robbed by the Central Bankers...
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I will go back and read your other posts just in case I missed something on the TD theory.
I am aware of the interest and debt based nature of FRN. Interest free is great but that is only half the problem. How is the supply of Trade dollar managed or should I say how is the printing abuse prevented if there is no physical asset it is being pegged to? Surely given the power whatever organization that controls the supply of currency could be tempted to repeat the same abuse.
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Trade Dollars are meant as a "means" to Round Up all the Federal Reserve Notes, so that no one around the the World will have to take a loss when the Federal Reserve Notes "crash and burn"... The United States will not default on any Debt... The Trade Dollars don't have to be Backed by Gold or Silver to be able to help you Purchase Gold and Silver... They will be used to Redeem the Federal Reserve Notes with no loss of Purchasing Power... Many of the Trade Dollars will end up in the United States, and that's fine by me... Each one can be cashed in for 1 Dollar in U.S. Coinage...
New... I suppose, you can say, the Trade Dollar is backed by "our" Coinage, and "our" Coinage is backed by the United States Constitution, Article 1, Section 8... The Minting of "our" Coinage has always been Recorded and the Numbers are there, for all to see...
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The beginning of the downfall of fiat currency goes back to the creation of the Federal Reserve in 1913, as federal as Federal Express.
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After the Redemption Period, all Federal Reserve Notes will be Void of Legal Tender Status, as per my Trade Dollar Theory...
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Thank you for your continued support of SteemSilverGold
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Just wondering how some people get bigger Up-Votes than others... What do you base the percentages on...??? Never mind... I just noticed we have another Pay to Play, Tier System... They seem to work, but aren't you afraid it will take the incentive away from making Quality Posts with Valuable Content...??? Curious Minds want to Know...
COIN MAN by @pocketechange ...A penny may cost a dollar...
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