Is Pres. Trump Going To Cancel Federal Reserve And Put US On Gold Currency?

paoli2 | Jul 20, 2020 | 2,641 posts since 2011

We read in a post today that Pres. Trump is planning on canceling the Federal Reserve and putting US on Gold currency which is selling today at $10,000.00 oz. Does anyone know if this is true and how it will affect savers who are not millionaires or have gold? How quickly can this be done? We are very concerned about negatives affects if he gets it done. Any info you can share will be greatly appreciated. Thanks.

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alan1 | Jul 20, 2020 | 877 posts since 2015

You posted an identical message elsewhere on this site. My answer to that post was:

paoli2 --

1. Please provide a source of the claim that gold, today, is worth $10,000 per ounce. I would love to go out today and buy gold, if I could find a buyer who would pay me $10,000 per ounce (or even substantially less).

2. I did not "read this morning that Donald Trump intends on abolishing the Federal Reserve and put our currency on the Gold standard." Where did you read this?

Sounds like a gold scam to me.

paoli2 | Jul 20, 2020 | 2,641 posts since 2011

Alan: Sorry for the double post. I was heading out the door to get someplace and I decided to quickly check online and the story came up. I am so upset that I did not double check who was posting it but then I read other posts stating Trump was accepting payments owed to US in gold now. It sounded like he really wants to change us over but whether he can or not is the big concern. I will try to retrace my actions from earlier to see if I can find that posting again. I do hope it was just from one of those Stansbury people who just want to sell gold. Thank you anyway.

CTM | Jul 20, 2020 | 179 posts since 2010

P2 -

In a nanosecond, you could determine that the current price of gold is nominally $ 1800 per ounce. That is a long way from $ 10,000 per ounce. If you can find me a buyer at $ 10,000 per ounce, I also have a bridge for sale in NYC.

I have some advice ... unsubscribe from all the crap the Stansberry Research publishes.
Even though they may have Ron Paul as the pitchman for this snake oil, it is still crap.

paoli2 | Jul 20, 2020 | 2,641 posts since 2011

Alan1 and CTM: What I read was in John Michael Chambers article " We Did It - Trump Ends the Fed As We Know It": "We Did It – Trump Ends The Fed As We Know It" It was not the regular Stansberry or Ron Paul stuff to sell gold. I do not subscribe to them
but still get emails all the time with scarry news about why we "have" to buy gold and I ignore them. This long article put a scare in to me as to what our savings are worth if this is a true article . I would love to get your opinions of it if you have time to read even a bit of it. Thanks so much!

paoli2 | Jul 21, 2020 | 2,641 posts since 2011

I have been researching this "Gold" standard topic and it seems Trump can't put us back on the Gold standard because we don't have enough "real" gold to cover all the worthless "dollars" in circulation. He would have to raise the price of the gold to that insane $10,000.00 per oz. I read about and those "in the know" don't think that even would work! I wonder where all those millionaires and billionaires in this country are hiding their "gold"??

We could end up again where they make it illegal to own gold so no matter how we cut the cake, "we" can't come out on the winning end in my opinion. Trump is really thinking about this from the reports I read but even his experts don't see how it can be done at this point. If you want names of "all" the articles I read, you can just do your own google for them. I just googled "Does Pres. Trump want to put the US currency on the Gold standard?"

GreenDream | Jul 22, 2020 | 358 posts since 2019

John Michael Chambers is a Qanon follower. That right there should tell you all you need to know as to how serious to take what he said.

paoli2 | Jul 22, 2020 | 2,641 posts since 2011

I have never heard anything about this Qanon thing and it's followers. I researched it and it is indeed one of those groups. I apologize for my concerning posts and thank GreenDream for the info on Chambers. I won't be posting about this subject any longer. Thank you for the help on understanding it better. I did read the post you shared about Allison not replacing Yellen etc. I just thought they had decided to try it again. Much appreciation.

GreenDream | Jul 22, 2020 | 358 posts since 2019

As I said last time you posted this nonsense, the only thing I could find in a quick google was this (from a clickbait conspiracy website):

"One of Trump’s picks for the Treasury Department Secretary, John Allison, hinted that he will implement the gold standard when the current Federal Reserve Chief, Janet Yellen, retires in 2018."

John Allison did not replace Yellen and thus the gold standard was not implemented by him or anyone else.

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