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To: SeekAndFind

Do we have enough gold to actually implement a gold standard?


2 posted on 10/16/2012 5:35:37 AM PDT by tbw2
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To: tbw2

Sure. Gold might be $10,000 an ounce, though.


3 posted on 10/16/2012 5:51:20 AM PDT by Sherman Logan
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To: tbw2

You shouldn’t need enough gold to back every single banknote in circulation. The purpose of it is to instill confidence in the currency and fiscal discipline in government spending policies, with enough gold coinage held in reserve to supply reasonable demand.


4 posted on 10/16/2012 6:13:36 AM PDT by sinsofsolarempirefan
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To: tbw2

How much gold do you imagine we need? All it means it that dollar=X amount of gold. 10 pounds would be “enough”.


8 posted on 10/16/2012 7:23:01 AM PDT by DesertRhino (I was standing with a rifle, waiting for soviet paratroopers, but communists just ran for office.)
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To: tbw2

Not even close. At current prices the government holds enough to run operations for a month or two, and they had to steal every bitl of that back in Grandad’s day. It’s a huge pile to be sure, though equal in value to just one major company on the stock exchange - say, Apple Inc.


10 posted on 10/16/2012 8:03:39 AM PDT by Freedom4US
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