No Country for GOLD, Man

Congress Blocks a Possible Return to the Gold Standard

What's really going on when Congress blocks a possible return to the Gold Standard?

Hey, you! Wanna c*ck block a Federal Reserve Board confirmation, thus possibly preventing a new member pushing a return to the Gold Standard for U.S. currency? Okay, sure, just hold onto my inflated dollar until after this Senate vote.

And that’s exactly what Congress did recently (Tuesday, November 17, 2020) in a 47 to 50 vote, resulting in not allowing Trump nominee Judy Shelton to join. Ouch!

This should ring warning bells for all Americans. Because it sure looks like these politicians willfully stood in the way of bringing more value to the USD, which, since 1933, hasn’t been backed by anything but the worthless ink it’s printed on. 

Now see, according to Keynesian economic theory, in tough economic times like now, inflating greenbacks has always worked in the prevention of another Great Depression. Yeah, however, only the Federal Reserve has benefited most from this move but, unfortunately, leaving U.S. citizens holding a bag that’s continued to lose it’s monetary value ever since.

They’re Playing Chess, Not Checkers

Meanwhile, Majority Leader Mitch McConnell (R-Kentucky) changed his vote from “Yes” to “No.” Go figure that chess move out, sports fans.

Not surprisingly, Republican Senators Mitt Romney and Susan Collins gave their vote to the Democrats on this one. See, every since losing to Barrack Obama, I’ve been speculating that Romney’s had his mind on a 2024 presidential run with not supporting Trump throughout his first term.

Now I could be mistaken. Then again, I’m not always right but I’m never wrong.

Why? Okay, I’ll tell you why.

Collectively, this is the real power play here. Romney, and other politicians, for that matter, are playing the long game.

Ask yourself this: what would be the outcome of returning to the Gold Standard?

Perhaps, China would call in all of U.S. debt to be promptly paid in full. Or maybe, and this is purely my own analysis, other nations will follow suit.

Talk About Panic

Can you say bank run? Don’t expect neither lame duck President Donald Trump nor President Elect Joseph Biden to pull another President Franklin Roosevelt option anytime soon.

What? You ain’t know?

Back in the day, Roosevelt had more nerve than a toothache. He actually outlawed private ownership of gold, calling it “hoarding,” ordering U.S. citizens to “surrender” (not deposit) their gold to the Federal Reserve Bank, thus removing gold as the currency’s back up. 

And for those whom refused to comply? Well, Roosevelt threaten them with fines and prison.

C’mon, man (no Biden pun intended). No politician’s that bold in 2020.

Or are they? Let’s go deeper into this rabbit hole, shall we? 

Bet, I’m here to remind you that all—yeah, I said it—politicians are in it for power. Anything else they spew at us is pure bullsheet.

Oh, and by the way, if you haven’t noticed, COVID-19 has severely threaten the financial lifeline of the FDIC (Federal Deposit Insurance Corporation). Since March 2020, too many business—small, medium and large—have suffered its lingering effects, thus putting many people out of work.

No work? No money to pay rent or mortgage.

Hey, look, I’m no conspiracy nut but I’ve always maintained a pragmatic attitude towards the staples in life. One of them is money. How to legally earn it, invest it and, hopefully, enjoy it on international travel among other things.

Yeah, a Gold Standard would most likely threaten American interests, aka multinational corporations, onto a more stable and, God forbid, fair playing field financially speaking. Of course, this would happen but the entire world knows that neither Democrats nor Republicans will ever let this scenario go down without a Congressional fight.

Why? Too much control to lose.

Now hold up. Does Congress work for the people via the strict guidelines of the U.S. Constitution, or are they obligated to another entity?

Remember, the Federal Reserve is a private bank. Now knowing this, why hasn’t Congress and any sitting POTUS just say “We’re not paying any national debt any longer.”

You know what? I’ll pause a moment for you to marinate on that fact.

Cryptocurreny Option

Anyway, after this week’s Congressional vote on the matter, I’m making munnnney moves (no Cardi B pun intended). Yes, it’s time to increase my other investments before it’s too late.

There’s always the option of digital currency. Regardless of your preference, experts have been talking about the alternative of cryptocurrency for awhile now.

Likewise, with so many world economies already in epic fail mode (and the U.S. isn’t too far behind), it would be smart to at least look into investing in blockchain technology for the not too distant future. I mean, look, with the current banking system, corrupt politicians and numerous scrimmages between a polarized nation that continue to mirror the symptoms of a second civil war, access to your money (for what its really worth) could potentially be limited.

Moreover, withstanding an act of God, I wouldn’t expect Congress to confirm anyone of Judge Judy (no relation to the television show one) Shelton’s ilk anytime too soon. To put it simple: it’s not in its interest to do so.

Also, not returning to the Gold Standard negatively affects the fiat currency of other nations. Uh-huh, you know the old saying: when America sneezes, the rest of the world catches a cold.

Investing in Precious Metals

So, as always, you’re probably asking, “What do we do about it now?”

Well, here you go. An Exchange Traded Fund (ETF) is a safe start to investing in gold, silver and other precious metals. 

You have the option of going through your own bank or credit union, or via a brokerage account. There’s plenty to chose from.

Case in point, Congress failed to do its job, confirming Judge Shelton to the Federal Reserve Board. They feared what this woman would do, getting the U.S. back on the Gold Standard.

Now if that wouldn’t make America great again, I don’t know what else would. Oh, yeah, pun most definitely intended on the MAGA analogy. 

So, Brothers, until next time, stay strong, watch your six, and don’t let anybody ph*ck with you!

Copyright 2020

Marcus love is a published author. You can scoop up his most recent Broke and Ashy urban eNovella series at an Amazon Kindle near you.

https://www.amazon.com/Marcus-Love/e/B0097PJIHK

 

 

 

 

 

 

 

 

 

 

 

 

 

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About Marcus Love 38 Articles
Author of several novels, Marcus is currently writing the next installment of the infamous Broke and Ashy eSeries available at an Amazon Kindle near you. https://www.amazon.com/Marcus-Love/e/B0097PJIHK