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Author	Message
Guy Send message Joined: 3 Apr 99 Posts: 1183 Credit: 3,473,940 RAC: 516	Message 1282242 - Posted: 10 Sep 2012, 15:27:25 UTC - in response to Message 1282238.
	There may be too little gold to restore the gold standard You're right. We may have already gone over the cliff. How do you create a coin worth 0.00005771 ounces of gold (at today's price), and some fractions there of... like 1/4, 1/10, 1/20, and 1/100? There are ways, but people would have a hard time accepting it. My heart goes out to all my seti@home brothers and sisters, sincerely, Guy the Great! Another way to look at it is if we switched back to the gold standard over night (impossible in the current political atmosphere), the price of gold would probably shoot way up by a factor of x1,000 or x10,000 given the ratio of fiat currency to the amount of gold reserves. Then we'd really see what our beloved government has done to our money supply since we went off the gold standard a few decades ago. I haven't done the research to find the facts since it wouldn't matter in these forums, but this is what I FEEL would happen. Plus, those who own physical gold would profit enormously. Nothing but love guys/gals, sincerely, Guy the Great!
	ID: 1282242 ·

BarryAZ Send message Joined: 1 Apr 01 Posts: 2480 Credit: 7,459,651 RAC: 13,524	Message 1282358 - Posted: 10 Sep 2012, 19:58:20 UTC - in response to Message 1282242.
	Guy. another consequence of returning to the gold standard would be the catastrophic collapse of the world economy. Perhaps that is one of the factors behind the 'political environment' -- it may be that the number of people who really want a world economic collapse are quite few.
	ID: 1282358 ·

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Message boards : Politics : Gold

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