Gold is Hot Hot Hot

[Flatlander]

There is more than enough gold for all the world if you price it accordingly

[biglentil]

farma thats why our dollars, quarters and dimes were silver up till 1965, our nickels were pure nickel up till 81, and are pennies pure copper up till 91. No need for gold dust on everyday transactions.

[Flatlander]

My favourite George W Bush quote," if money doesn't loosen up, this sucker could go down"

[farmaholic]

I need it explained to me.

If you took the value of money in circulation and replaced it with gold... is it possible? How is it priced.

I think the volume has made it impossible.

Paper(plastic) could be it's "representative" if it was backed at a REASONABLE RATIO.

As I said this is beyond me. I'm all ears...

[biglentil]

Easy gold would be the equavalent of 30000 an ounce, silver around 2000 an ounce. Partially backed makes no sense to me. It either is or is not. To be trully backed it means that anyone holding the paper can exchange it for the physical gold backing it. Used to be 30 dollars could be exchanged for 1 ounce.

[cottonpicken]

In 1929 it was made illegal and the price was twenty then revalued to 35. That was a default. Rational numbers being thrown around are eight to ten grand. But basically money just needs to be tied down to something.

[Oliver88]

Our federal government recently sold half our gold?