Tuesday, June 16, 2009

China and Russia's new currency, and why Pebble Mine should begin helping our Nation bring a Gold Standard back to the Treasury.

Get ready for the Yuan!

What’s that you say? Well since our dollars is now just a piece of paper due to Obama, Congress and our lovely Senate, Russia and China are making a 6 Nation Pact to endorse a new reserve.

Now would that be a bad thing? Not necessarily. Let’s say that we, as in America, get a real President in… and let’s say they try to go back to the gold standard, it could be a small price to pay to be out from under the “Currency International Wars” that are now starting to pop up. When I say small price, I mean that if we switched back to cold hard gold standard, we as a Nation would be forced to cut back everything and have to learn to be more conservative in spending AND in Government. We would also have a recession for sure concerning the switch as a dollar now is not worth a gold standard dollar, as it would be worth more like a five dollar bill rather then a one dollar bill. We would also get more bang for our buck, but you would have to price out the difference. Say spend a dollar for something useless… and you will feel it later. But it would make a lot more sense to go back to what we know is tried and truly works.

That is one reason why I am not against the Pebble Mine in Alaska as well as other mines being developed. As it cracks me up that everyone thinks that it is mainly a gold mine. When actually if you look at the demographics of it…. There is much more expensive and just as highly used minerals in that area other then gold. What am I talking about? Well there is a certain alloy used in aluminum, to make it more pliable and stronger. It is used in variation in car parts and of all things…. Cans we drink out of. The only problem is, it isn’t very well recycled due to the break down when in the recycle phase. This mineral is called bauxite, which is a type of nickel that bonds well with aluminum as it is a aluminum ore. It has been used for years and years in building materials. But when they figured it makes aluminum more dureable it was mined extensively. Other then gold, and diamonds, bauxite is a very highly sought after mineral as it is hard to find areas that are a specialized type. Bauxite is in the area of Pebble Mine. It isn’t like it is Tar Sands… which I will be blogging about later this week.

So a gold standard and Alaska mining for our standard with an added bonus. Sounds good to me!

1 comment:

  1. We might as well mine the gold & other metals. We'll need something to replace the oil revenue, if that source fails.