Gold and the New Standard

It's a beautiful thing to behold. It represents scarcity, value, glory and prestige but most of all it represents stability. As these months pass, more and more of my friends who thought I was nuts for suggesting we return to a commodity backed currency over our inflationary, prone to radical abuse monetary system are beginning to seriously consider what was once out of the question - gold.

We are at a precipice today; what was once considered the 'good as gold' greenback is now the least risky of all other currencies denominations, but least risky by no means implies secure and stable. The time has come when real alternatives have to be considered.

The benefit of having one is that it is fully transparent and as a consequence self-correcting since the marketplace controls its value, not a minority of 'masters of the universe' central bankers.
Under a gold standard, governments cannot increase the money supply without buying the equivalent value in gold.

A gold standard is not fool proof. There is the risk of deflation but that was a problem before the era of lightning speed electronic transactions and down to the decimal accounting and limited mining capabilities.

Whatever we do, we have to accept the fact that the Federal Reserve does not perform its function as was intended upon being signed into law under The Federal Reserve Act on December 23rd 1913. Here's a quote on what then President Woodrow Wilson wrote the day he signed it - keep in mind that many question its complete authenticity but having read the history so thoroughly, I believe it is authentic and is ironically verified in the congressional record as authentic.

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson 1913

As ominous as that sounds, consider what President Thomas Jefferson warned about central banking back in 1791. The authenticity of this quote is complete:

"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. This issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered. I hope we shall crush in its birth the aristocracy of the moneyed corporations which already dare to challenge our Government to a trial of strength and bid defiance to the laws of our country" Thomas Jefferson, 1791

All the nations of the world who have sold out their liberty for the false sense of security provided by fiat based currencies in the exclusive control of central bankers need to consider alternatives; gold is only one, if there are others, I'd love to hear them and discuss it openly.

Peter Manousakos
Publisher & Editorial Director
Horus Onoma Group inc.

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