Economist Says Plan Not Totally Wacky
by Winsip Custer CPW News Service
With Ron Paul and other Presidential candidates considering the conversion of the US monetary policy from it current Keynesian model to the gold standard, the American Garment Workers Union sees an opportunity for full employment among it dwindling ranks.
According to Fleishman Z. Bronfmandorf, Chief Economist at the Bronfmandorf Institute in Vienna, Austria the shift to gold-backed currency is an idea whose time has returned. "This return to the gold standard will help the American Garment Workers to return to work with jobs secured by America's wealthiest industrialists, gold hoarders and other gold patrons," said Bronfmandorf.
"At $1500 per ounce of gold, a dollar's worth of gold is about the size of less than a half to three-quarters of a grain of rice. Put another way, that $1500 ounce of gold is about the size of a U.S. Quarter. Divide that Quarter into 1500 equal parts and you have your dollar's worth of gold. When that sliver of gold is pressed into a thin ribbon and sewn into a dollar bill, you have effectively returned to the gold standard and reemployed our garment workers whose jobs have all but gone to India, Indonesia and China. As goes the U.S., so goes the world. Others will be converting their currency to gold. They'll get millions more employed on their own sewing machines."
I asked Bronfmandorf what was to keep people from stripping the ribbon out of the dollar bill, pocketing the gold and passing the ribbon-less paper. "Nothing," he said. "That effectively reverts the dollar to what it is....a piece of paper. If you don't see the ribbon, it's not a dollar. Here in the States you'd have to have the same security procedures that protects the U.S. Mints. More importantly is the bench mark value of the dollar. If you put a dollar's worth of gold in the bill today and the price of gold drops to the 1970 price, you will need 45-50 dollars to equal the one. We recommend a world-wide recall of all dollars. People are asked to strip the gold out of their bills and to have it sewn back into new benchmark dollars, sewn by the World-Wide Federation of Goldback Stitchers....the name of our new international union. Putting the gold in the bill means that you're not carrying 'Green Backs' but 'Gold Backs' and you've effectively cut out the middleman....the U.S. Government....which has a 9% trust level anyway. Would you bank with a banker that has 91% unfavorable grades? You might as well give your money to Al Capone or John Gotti," said Bronfmandorf.
"Or to Goldman Sacks or Merrill Lynch?" I asked. "God, almighty that would be worse. Remember that the media diva, Martha Stewart, went to jail for six months for insider trading. And if she was getting rigged information on a $50,000 investment from her Merrill Lynch broker when she's worth $600 million you can imagine what kind of protection you'll get. You'll get jack squat and be living in a trailer down by the river," said Bronfmandorf.
"Couldn't other nations just convert their currency to ours strip out the gold and sew it back into theirs?" I asked.
"Sure could," he said, "but what's the point? They'll still have to wrestle out of your hand. Especially if we tell 'em we'll kick their ass if they do. We'll start with reductions in aide and then military action which is the only legitimate reason to have a government in the first place."
Bronfmandorf believes that the new dollar should become the standard for US monetary policy and that larger bills should not be made. "A hundred dollar bill would need to have about 50 grains of rice in it and that's too much. Plus with only $1 bills being made the garment workers will keep at full employment for ever. It's also harder for drug lords to smuggle the money out of the country when it is in $1 bills."
I asked why machines couldn't insert the gold ribbon and bypass the need for garment workers to hand sew the bills. "For the same reason that Gandhi wanted people in India to boycott English cotton mills back in Great Britain and spin their own cloth," said Bronfmandorf. "Wealth was meant to be spread around like sunshine or air. Who owned the gold and silver mines before the mining moguls? And just because you can dig and smelt metal, what gives you the right to claim it as totally your own without giving something back?" asked Bronfmandorf.
"Metallurgists can make gold bars and gun barrels," I suggested quoting Kyle Bass the short-selling gold hoarder who said he's telling his mother to invest in "guns and gold."
"Yea, and it always comes down to that doesn't it? If that's the case why doesn't the world just go on a new Yellow Cake Uranium Standard," said Bronfmandorf. "Let the smoking gun be a mushroom cloud and get it all over with."
"Because it really is already on that standard," said Bronfmandorf. "There are those who admit it and those who don't. It's just damn hard to sew a strip of enriched uranium into a dollar bill."
by Winsip Custer CPW News Service
With Ron Paul and other Presidential candidates considering the conversion of the US monetary policy from it current Keynesian model to the gold standard, the American Garment Workers Union sees an opportunity for full employment among it dwindling ranks.
According to Fleishman Z. Bronfmandorf, Chief Economist at the Bronfmandorf Institute in Vienna, Austria the shift to gold-backed currency is an idea whose time has returned. "This return to the gold standard will help the American Garment Workers to return to work with jobs secured by America's wealthiest industrialists, gold hoarders and other gold patrons," said Bronfmandorf.
"At $1500 per ounce of gold, a dollar's worth of gold is about the size of less than a half to three-quarters of a grain of rice. Put another way, that $1500 ounce of gold is about the size of a U.S. Quarter. Divide that Quarter into 1500 equal parts and you have your dollar's worth of gold. When that sliver of gold is pressed into a thin ribbon and sewn into a dollar bill, you have effectively returned to the gold standard and reemployed our garment workers whose jobs have all but gone to India, Indonesia and China. As goes the U.S., so goes the world. Others will be converting their currency to gold. They'll get millions more employed on their own sewing machines."
I asked Bronfmandorf what was to keep people from stripping the ribbon out of the dollar bill, pocketing the gold and passing the ribbon-less paper. "Nothing," he said. "That effectively reverts the dollar to what it is....a piece of paper. If you don't see the ribbon, it's not a dollar. Here in the States you'd have to have the same security procedures that protects the U.S. Mints. More importantly is the bench mark value of the dollar. If you put a dollar's worth of gold in the bill today and the price of gold drops to the 1970 price, you will need 45-50 dollars to equal the one. We recommend a world-wide recall of all dollars. People are asked to strip the gold out of their bills and to have it sewn back into new benchmark dollars, sewn by the World-Wide Federation of Goldback Stitchers....the name of our new international union. Putting the gold in the bill means that you're not carrying 'Green Backs' but 'Gold Backs' and you've effectively cut out the middleman....the U.S. Government....which has a 9% trust level anyway. Would you bank with a banker that has 91% unfavorable grades? You might as well give your money to Al Capone or John Gotti," said Bronfmandorf.
"Or to Goldman Sacks or Merrill Lynch?" I asked. "God, almighty that would be worse. Remember that the media diva, Martha Stewart, went to jail for six months for insider trading. And if she was getting rigged information on a $50,000 investment from her Merrill Lynch broker when she's worth $600 million you can imagine what kind of protection you'll get. You'll get jack squat and be living in a trailer down by the river," said Bronfmandorf.
"Couldn't other nations just convert their currency to ours strip out the gold and sew it back into theirs?" I asked.
"Sure could," he said, "but what's the point? They'll still have to wrestle out of your hand. Especially if we tell 'em we'll kick their ass if they do. We'll start with reductions in aide and then military action which is the only legitimate reason to have a government in the first place."
Bronfmandorf believes that the new dollar should become the standard for US monetary policy and that larger bills should not be made. "A hundred dollar bill would need to have about 50 grains of rice in it and that's too much. Plus with only $1 bills being made the garment workers will keep at full employment for ever. It's also harder for drug lords to smuggle the money out of the country when it is in $1 bills."
I asked why machines couldn't insert the gold ribbon and bypass the need for garment workers to hand sew the bills. "For the same reason that Gandhi wanted people in India to boycott English cotton mills back in Great Britain and spin their own cloth," said Bronfmandorf. "Wealth was meant to be spread around like sunshine or air. Who owned the gold and silver mines before the mining moguls? And just because you can dig and smelt metal, what gives you the right to claim it as totally your own without giving something back?" asked Bronfmandorf.
"Metallurgists can make gold bars and gun barrels," I suggested quoting Kyle Bass the short-selling gold hoarder who said he's telling his mother to invest in "guns and gold."
"Yea, and it always comes down to that doesn't it? If that's the case why doesn't the world just go on a new Yellow Cake Uranium Standard," said Bronfmandorf. "Let the smoking gun be a mushroom cloud and get it all over with."
"Because it really is already on that standard," said Bronfmandorf. "There are those who admit it and those who don't. It's just damn hard to sew a strip of enriched uranium into a dollar bill."
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