Bryan's Cross Of Gold Speech

[MacGuffin]

I cringe at my own nerdiness, but if one wanted to hear the voice of WJB delivering the 'Cross of Gold' speech (apparently it was a nice little earner for him even 25 years after the fact) one could find it at:

http://www.americanrhetoric.com/speeches/w...ryan1896dnc.htm

[bill still]

Yup. It's in the new film, "The Secret of Oz".

I cringe at my own nerdiness, but if one wanted to hear the voice of WJB delivering the 'Cross of Gold' speech (apparently it was a nice little earner for him even 25 years after the fact) one could find it at:

http://www.americanrhetoric.com/speeches/w...ryan1896dnc.htm

[roman holiday]

Hmmm. I've made this point very clear in The MoneyMasters and in several posts on this site, but I'm just happy to talk to folks interested in the topic. Really, this is a fine discussion you have going here.

Gold-only money systems are bad. American history is replete with examples of this because we kept fighting against it, then having the plutocrats re-establish it. Back and forth it went. Every time their gold-only system gained power again, the result was never prosperity, as was ALWAYS advertised by the politicians. The result was ALWAYS depression. If you know American monetary history it is very difficult to argue against that.

Gold as wealth protection is fine with me. I prefer silver, but own all the gold you want.

It may even be ok to have some gold stamped into coin since the amount would be insignificant compared to the needed money supply.

Does that clarify?

Bill, could I suggest that your approach is US-centric. It is fine for a smaller country that is not at the center of world finance and trade to focus inwards on its own national economic problems. But it is fatal for a major power to do so. A country such as the US has to consider the international system... especially given the unstable times we are now in.

After WW1, Britain could no longer provide international leadership in the world of trade and finance. When it left the gold exchange standard and devalued, it assumed that the US would take up the role of world leadership. Unfortunately, the states did not and chose instead to look after its own interests. The world order increasingly fell into disarray and we all know where that led.

Today, more than ever, the US has to show leadership in tandem with other powerful countries on the world stage. The issues at stake are much larger than national ones and indeed if they are not grappled with, national solutions would be irrelevant as the international order became more chaotic.

I would suggest there is a political dimension to a gold exchange standard which goes beyond concerns with the economic machinery within particular nations. Historically, it has helped to provide a basis for stability and equilibrium between nations, and for an order on the international stage.

Edited August 6, 2009 by roman holiday

[bill still]

I am not well-enough informed to rebut some of you assertions, but I suspect they are not entirely germane to my points.

Here is the main point about which I well informed: in today's world, banks and banking systems which freed themselves from the debt money system are doing well, and they are the only ones that are doing well. THE basic point I'm hammering on is that governments do not need to go into debt, and when they do, they become captured by plutocracy.

In U.S. history, gold-only systems served the same function that the privately-owned central bank system serves today -- it forces government indebtedness.

If gold is somehow necessary for trade between nations, then I would say that this is beyond my ability to comment upon reliably, but is not germane to my points.

The problem in debt money systems is the interest is not created. Therefore the system relies on a continuing wave of incoming borrowers to sustain the pyramid. Like all pyramids, there is a mathematical limit and that has been reached. That's why I say in my film "The Secret of Oz" that there is not enough stimulus money in the entire world to dig us out of this economic hole into which we have fallen. Only debt forgiveness (restructuring) followed by monetary reform can change things for the better.

The #1 political mantra in every nation at this time should be "No More National Debt!"

Bill, could I suggest that your approach is US-centric. It is fine for a smaller country that is not at the center of world finance and trade to focus inwards on its own national economic problems. But it is fatal for a major power to do so. A country such as the US has to consider the international system... especially given the unstable times we are now in.

After WW1, Britain could no longer provide international leadership in the world of trade and finance. When it left the gold exchange standard and devalued, it assumed that the US would take up the role of world leadership. Unfortunately, the states did not and chose instead to look after its own interests. The world order increasingly fell into disarray and we all know where that led.

Today, more than ever, the US has to show leadership in tandem with other powerful countries on the world stage. The issues at stake are much larger than national ones and indeed if they are not grappled with, national solutions would be irrelevant as the international order became more chaotic.

I would suggest there is a political dimension to a gold exchange standard which goes beyond concerns with the economic machinery within particular nations. Historically, it has helped to provide a basis for stability and equilibrium between nations, and for an order on the international stage.

[azogar]

If anyone wants a bit more background about the time this speech was written, there is a chapter (IV An Economic Nightmare) of The Driver , by Garet Garrett.

you can download the audio chapter here. The style of narration takes a bit of getting used to, but I have just started listening to the whole book and this chapter describes the times incredibly well.

(history nerds only need apply )

edit - amended text

Edited September 17, 2009 by p.p.