Ron, as much as I hate to bolster your argument, I'm forced to agree with you -- gold IS currency. I looked at the back of some 1 oz eagles, and sure enough, it says, "50 Dollars."
Thinking about it, I remember as a youngster having some of the zinc pennies issued during WWII, and they spent like 'real' pennies. I haven't tried, but I'll bet that if I take 4 old silver quarters, or a silver dollar, to a Federal Reserve Bank, they'd give me a brand new paper dollar in exchange. Or, a new 'funny money' 50 dollar bill for one of my gold Eagles.
The Treasury prints currency, the Fed determines its worth, and manipulates it accordingly. Gold is currency, so the Fed can manipulate it. Q.E.D.
You're making a convert of me, Ron. Dammit!
jim |
