It has always fascinated me to hear the mainstream's interpretation of the gold standard. The great majority - including many who are part and parcel to the financial elite - elicit a knee-jerk response to its mere utterance.
Many see the return to the most recent Bretton-Woods-based "imposed standard", not one based on market value. Furthermore, the knee-jerk is detached from the main reasons why they "should" oppose.
Mainstream financial awareness is fully clouded - even among its highest ranking practitioners. And they see its implementation akin to going to a world without anesthesia, antibiotics, child labor, slavery, and the like.
In our fully propagandized culture and society, precious metals are among the great "misunderstood"; a grotesque illustration of the century-old financial/political movement to "free" liquidity. It takes a pillage to get this far down the rabbit hole; a broken economy, old systems spiraling out of control.
We have massive misallocation of capital. Near total destruction of purchasing power. Emergency policies meant to prop up the banks are punishing savers. Justice is fully two tiered. Regulation is fully captured and revolving. The middle class is all but wiped out and on the verge of a yet another (this time abrupt) adjustment to the standard of living.
What is left of real capitalism is suffering from diminishing returns on the verge of no return. We are not returning to economic stability and growth any time soon.
We are going backwards, despite the implementation of a "restrictive" currency standard.
Previous economic growth hinged on the ability to extract natural resources at an exponential rate. In some ways, we are using "money" from nothing as debts to "pay" for it. Just as we are seeing with fracking and the so-called ‘shale-oil boom’.
Theories of economics cannot be reconciled with ecology. Once diminishing returns become priced in, all that is left is a huge wave of debt and derivatives.
The damage will be systemic. And once the damage is done, it is never the same. And yet in the immediate aftermath, the private sector is called in to bail it out and to run the system to protect itself in the name of safety for all. Alas, modern political economies are enforced frauds. The majority refuse to see this. They have the ability to back it up with violence and disinformation.
This foundation and, therefore, resurrection will be impossible. Resolution would require impossible shifts in world view. If it were not sad enough already:
There is news about the Middle Eastern radical militia movement, ISIS, adopting precious metals as their own.
“ISIS wants to introduce its own currency and plans to bring back solid gold and silver dinar coins, it has emerged.
The Middle East terror group apparently wants to introduce its own Islamic currency as part of its attempts to solidify its makeshift caliphate.
Militants are said to want to bring back the original dinar, which is an ancient currency from early Islam, and religious figures in Mosul and Iraq’s Nineveh province have apparently announced its return in mosques.
The currency known as the dinar, which once consisted purely of gold and silver coins, is today used by a variety of countries, but the coins are created from different materials to the originals.
However, the jihadi group is understood to be planning to return to the original gold and silver coins, which were first introduced during the Caliphate of Uthman in 634 CE."
This news is disconcerting to the hopes of any political movement to sound money. Gold, and any talk of standard risks being positioned as a threat, is the money used by terrorists.
Which is an ironic truth, given central banks all over the world are buying and report to be holding large amounts of gold.