"New American Monetary Standards and Systems"
I am beginning to develop a notion of the "Compatibility of Different Monetary Standards for America." This recent post of Kevin's got me thinking along these lines. Its not completely thought out yet, (and due to my lack of financial and economic expertise, may not be...but then again, I do feel that "expertise" and "experience" is what got America to where it is today, eh?). Anyway, what I have now, is that all the money standards worked to some degree for a time. But, because of their "finite" nature (limitations as to supply), the Gold and Silver Standards would end up in the coffers of the wealthy few, leaving little or nothing for the working masses. So, I conclude that We need a plentiful supply of spendable wealth for the Working Class Masses...."The Many".
And I believe We would do well to remove the presence and influence of the "Federal Reserve System", in the production and distribution of Our Nation's Money Supply.
So...hows abouts the simultaneous existence of a combination of standards for Our monetary supply?:
(1) The Gold Standard for the Very Few and Very Wealthy. (Billionares?) They have most of the gold anyway. The certificates for this standard could be colored gold.
If this is used, I have to ask:
(A) Would it be better to limit this Gold Standard to a "Luxury Class" of use only? Items costing more than ten million dollars? And also"
(a) "that it is required only to purchase "Luxury Class" Items that the other "Standards" are not allowed to indulge in?
(b) "and cannot be exchanged for Common Wealth Monies ( The Fourth suggested Standard below.), but maybe could be exchanged for "Silver Standard Monies"?
(2) The Silver Standard for the not as Few and Wealthy. (Millionares?) These certificates should be colored silver.
If this is used, I have to ask:
(A) should We allow this "Silver Standard Monies" to be exchangeable "upward" for "Gold Standard Monies"? And "downward" for "Treasury Guaranteed Promissory Notes"?
(B) And even further "downward" for "Common Wealth Standard" currency and coin?
(3) The Treasury Guaranteed Promissory Notes (NOT the "Federal Reserve Notes" that dominate the currency flow today.) that are in circulation now for the entrepreneur, small business and other "upwardly mobile" Citizens of the Many. This would be a transition monetary layer that can be converted to the above two standards, or "down" to the final exclusively American Common Wealth level that follows. This third level should be the return of Our beloved Lincoln and Kennedy "Greenbacks".
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