Discussion in 'Economy' started by ScreamingEagle, Nov 9, 2010.
What effect would this have on our economy? Our debt?
Kinda disastrous I would think since we only have enough gold to cover a very small fraction of our currency in circulation.
Gold would go to about $100,000/ounce
We are not in a position to implement that, though it would be a good goal to work towards. Platinum, Gold, Silver, anything of real worth to back up our claim.
And / or the value of the dollar would drop to .01?
And can of pop would cost $75? Probably $150 in NYC ?
why do you think we dropped the gold standard. It was limiting our "growth"
Why do these people NOT KNOW we left it because people in the world were manipulating the Gold markets?
People are still manipulating the gold market.
It is much easier to manipulate currency than gold.
What's next? Barter?
which is really the problem with Zoelick's proposal. Without an international body to assume the role vacated by the IMF and the BIS in regulating international currencies the gold standard would do nothing to end currency manipulation.
I already do that. I trade beef and hay and corn for hogs and chickens/eggs, lumber, etc.
Kinda hard to put a steer in your wallet though, and they do not slide thru those littls slots at the checkout very well either.
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