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Old 08-22-2011, 09:31 PM   #11
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I wouldn't mind seeing stories on the news about gangbangers stealing each others' "grills".

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Old 08-22-2011, 10:35 PM   #12
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$1910.60 last I checked.

That same ounce of gold three weeks ago was under $1700. The gold has not changed. Only the currency you're using to buy it has changed. Keep that in mind.

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Old 08-22-2011, 11:35 PM   #13
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$1910.60 last I checked.

That same ounce of gold three weeks ago was under $1700. The gold has not changed. Only the currency you're using to buy it has changed. Keep that in mind.

hhhmmmm, interesting ... interesting ...
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Old 08-23-2011, 01:50 AM   #14
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I wonder what things would be like in our country if we had stayed on the gold standard with our currency.

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Old 08-24-2011, 04:51 PM   #15
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I wonder what things would be like in our country if we had stayed on the gold standard with our currency.
Ideal but I thought it is impossible since there is a finite qty of gold available and the world (or US) economy surpassed that long time ago.

Some conspiracy theories actually claim that Fort Knox is empty and (sadly) it could be true.
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Old 08-24-2011, 08:04 PM   #16
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Ideal but I thought it is impossible since there is a finite qty of gold available and the world (or US) economy surpassed that long time ago.

Some conspiracy theories actually claim that Fort Knox is empty and (sadly) it could be true.
Isn't that the idea though? Since gold is finite it would go up in value as the economy grew, and if the dollar was based on gold it would cause the dollar to gain strength, right?
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Old 08-24-2011, 08:50 PM   #17
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Isn't that the idea though? Since gold is finite it would go up in value as the economy grew, and if the dollar was based on gold it would cause the dollar to gain strength, right?
Exactly right. We would have far fewer dollars but they would be worth far more than they are today.

It doesn't matter how much gold you have; you can always anchor your currency to it.

August 15, 1971 is a day that should live in profound infamy. Most folks have no idea of the significance of that date....
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Old 08-24-2011, 08:51 PM   #18
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Exactly right. We would have far fewer dollars but they would be worth far more than they are today.
And pennies would still be useful.
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Old 08-24-2011, 09:11 PM   #19
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Economists and advanced nations won't like that...too simple and fair, they will lose their edge LOL

I still believe that it is not possible/sustainable after a certain economic threshold is reached. Gold will be way to expensive since we are now talking in trillions of dollars (in US debt alone).

Imagine adding all the value of all the properties, commodities, etc. in the world then dividing that by the amount of gold available...how much is an ounce going to be? Frankly, I have no idea but I would hazard to guess it will be in millions of US dollars. How rich do you think will this make a nation who have gold mines? Is it equitable? I personally do not think so. But I am a nobody so do not listen to me.

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Old 08-24-2011, 09:36 PM   #20
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I tend to dislike currency that has no intrinsic value, like Gold. And Paper, to be fair, but I still like currency over metal.

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