US National Debt Ceiling.

[theVOID]

If we cut off the credit, we would have to revert back to the gold standard..there isnt enough gold on the planet to push the economy of this size of our population.

Umm, economics fail...

If you cut off credit going on to a gold standard is the last thing that makes sense, it's going to thwart the ability of the Fed to print dollars to buy government bonds, at least without making it extremely obvious to everyone who doesn't already get it that they are making you all broke - At least now if the Fed prints money it's not immediately obvious to everyone that their dollars are worth less, they only see it through price increases a few months later, oil and food goes up in price and the government can quite easily get away with blaming that on the "evil corporations" raising prices, namely because 1.Keynesianism is too complicated for the average person to understand so they don't see the wool being pulled over their eyes, 2. you're all suckers - something you've obviously already fallen for with your belief that companies cause inflation.

The government won't be able to shift the blame, nor will they be able to exclude food and energy from the 'core' CPI and GDP so they can get away with lying about the state of inflation because on a gold standard it's immediately obvious what has happened to prices relative to gold - Rather than paying $1500 an ounce pre "quantitative easing" (monetizing debt) the price of Gold goes up to $1800 or so and everyone can see immediately that they've been ripped off.

Also, the quantity of gold has nothing to do with it, there could be 1/1,000,000th of the quantity of gold and you could still have a gold standard - You could have a Tin standard if you wanted, or a mixed precious metal index - all it means is that the price of the dollar is relative to some commodity is relatively stable because you can't just create more gold to monetize the debt - It requires fiscal responsibility, something than your tax/borrow and spend government is terrified about.

Right. Apparently silver is the place to be.

Silver absolutely, same with Gold, Tin, Iron, Copper, Salt, Sugar, Corn or any other currency that isn't the US dollar - The Canadian, Australian and New Zealand dollar are at 52 week highs, your currency is even falling relative to the freakin Euro! Every major trading country apart from the Yen right now has a currency that is increasing relative to the dollar

Like Marc Faber said, "when you're loosing a beauty contest to the Euro you got a be pretty damn ugly".

As far as the "selling off all of the gold" I havent the slightest idea. When it comes to gold and the worlds nations, who knows what they do behind closed doors. I know that there are several ways to invest in gold, and yes you can "buy and hold" actual gold coins, but I do believe there is a law saying that gold is ACTUALLY the property of the US government. What many people do is buy and trade gold "stocks", which are certificates. Or they invest in gold mining operations. Gold is so heavily regulated that it is difficult to get into it, and if you arent well established in it you take a pretty big risk to start.

I don't know about that, but I do know your country hates the very idea of trading precious metals, like the guy who was convicted over the 'Liberty dollars' and sentenced on a bogus charge of counterfeiting - Why do they hate Gold so much? Mainly because if people still saw gold as a measure of wealth (which it is) they would be able to see past the lies and get a good picture of how fucked they actually are.

Gold isn't a risk at all, it's a hedge, it's damn hard to loose money on it. There is absolutely no good reason to regulate it either, let alone tax the hell out of it - For instance if you buy gold and the dollar decreases in value, then you cash out you get taxed as having made a profit! It's nonsense, even when the prices of assets and commodities relative to gold remained stable, meaning you couldn't actually buy anymore with your gold than before, you haven't let them wipe out your wealth so they tax it!

There is more to running the economy on more than just gold. Copper is a good commodity, and one that I deal with most of the time. Its difficult to start off with as well, but I have been doing it for a decade now. When the price hits right, I sell ALL of it and cash in.

Copper is alright, but it's best to trade it short, it's too readily available when needed to hold it long, when the prices get too high people start mining it around the clock and before you know it you've lost a good chunk of your gains, even if the dollar keeps declining relative to other commodities.

If you're going to cash out make sure you only do it when you want to buy stuff, a week can see you loose up to 5% of the value you had in copper once you change it to cash.

If you want a tip it is this, as soon as you next get hint of the Fed going through another round of Quantitative easing go and dump all of your dollars in precious metals, something that doesn't trade as short as copper, silver or gold for instance, and sit on it for a good 5 years, you'll at the very least have secured your wealth but it's more likely that you'll make a damn good buck from it. Be wary of Gold bonds, when they're in high demand more fuckers tend to print certs for metals they don't have, you'll want to be holding it. Might even be worth a trip over one of your borders when it comes time to cash out, they tax it far less than your government.