Let's Bring Back The Gold Standard! (Why That's A Terrible Idea!) 🤦‍♂️🤡

In this video, I discuss how any system based on a Gold Standard contains the seeds of its own demise, and will eventually devolve into Gold Confiscation, Paper Banking, plus Central Bank price suppression.

99% sure the elderly Gold Bugs will thumb this down and troll the comments before even watching it, so expect this. 🤡

Here's a common example of "gold failure mode":

I pay my bank an annual fee to store my physical gold.

(If you're really wealthy with physical gold, the only two options are using a bank or creating a small private army, which comes with its own problems).

That bank has a competitor that instead lends out its depositors' gold for a fee. This competitor bank is then able to offer a reduced or zero annual storage fee, thus stealing all the business from conservative banks that don't lend out their depositors' gold.

Pretty soon you only have partial reserve gold banks, because the banks that didn't do it were driven out of business.

If a lot of people ask for their gold at the same time in a context of fractional reserve banking like this, you then end up with widespread bank failures.

That's when people decide to create or recreate "central banks" that can bail out or stabilize the banking system.

Voila! You've just put your money into the control of very small group of people who will eventually do stupid and corrupt things.

Peter Schiff on a return to the gold standard:
https://twitter.com/peterschiff/status/1293919603308089344

New BRICs currency backed by gold:
https://watcher.guru/news/brics-currency-to-be-linked-with-gold-says-economist

Executive Order 6102:
https://en.wikipedia.org/wiki/Executive_Order_6102

Original Video by Bitcoin University: https://www.youtube.com/watch?v=NTkMlggMokc

Gold Confiscation History | Executive Order 6102 📜
https://www.bitchute.com/video/zN12l5SrW9XD/

Mountain in the Congo found to contain 60% - 90% pure Gold in the Soil! ⛰️💰🤑
https://www.bitchute.com/video/I6j8iIomKLQL/

Uganda Discovers the Largest Gold Reserves in History! 31M Tones of Gold Ore! Doubles World Supply!
https://www.bitchute.com/video/xvLftMUp1SYz/

Store of Value Comparison: Gold / S&P 500 / US Real Estate / ₿itcoin 💰
https://www.bitchute.com/video/vR1WlHthTM5k/

Max Keiser: "Gold & Silver Markets are Heavily Controlled to Keep the Price Low!" 📉⬇️
https://www.bitchute.com/video/nPRncsyAVfzY/

When Gold Goes Up We Are Closer To Nuclear War! ☢️ When ₿itcoin Goes Up We Are Beating The System! ✊
https://www.bitchute.com/video/bhaXqfIn76eg/

Move over ₿itcoin... Introducing Gold! 🤑💰
https://www.bitchute.com/video/sUMJ4wdDrVPL/

Is Gold a better 'Store of Value' than ₿itcoin❓ 🤔
https://www.bitchute.com/video/uwOieaCitiEb/

Should ₿itcoin Be Backed By Something (like Gold)? 🤔
https://www.bitchute.com/video/lHHRH9pXFW1q/

The reason Gold failed as a Medium of Exchange and why Bitcoin is the future of Money! 💰💲🤑
https://www.bitchute.com/video/skpyesiCqkzF/

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