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You are here News Editorials Prairie2: Gold bugs in Tampa and you thought Palmetto bugs were bad

Prairie2: Gold bugs in Tampa and you thought Palmetto bugs were bad

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Gold bugOne plank of the Republican platform to be presented in Tampa is a demand for a return to the gold standard. This little bit of crazy is apparently intended to placate the Libertarian delegates that support Ron Paul. I've heard that they actually have enough votes to keep Romney from being nominated. This would explain them moving the official nomination from the traditional Wednesday session to Monday.

You know something is up because the habitual liars didn't use the excuse of the Wrath of God bearing down on Tampa for the sudden change, but claim it was always the schedule. (it has always been done this way, and we've always been at war with East Vagina)

Some history on gold. The US has issued paper money since the Revolution. For a time prior to the Civil War paper money was backed either with gold or silver, although private banks issued their own paper money up until the FDIC was created in 1933. Lincoln issued Green Backs (not backed by gold) to bypass the bankers whom he considered a worse enemy than the rebels.

FDR banned the private holding of gold by US citizens without a permit, except for US coins, but the banks were required to turn in any gold coins they acquired. Most of those gold coins still exist, they didn't melt them down (don't fall for the ads that claim they're rare). The US used them to pay foreign claims for gold, so they mostly sit in various government vaults overseas.

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