<<But let me ask you something... if the US is currently running a trade deficit for goods that we pay in dollars for, then can you really assume that the US holds more Yen, Yuan, and Euros, than they hold of US dollars??>>
No, you are talking an "all or none" situation. I never suggested gold was the Only Currency, or even as Mr. Greenspan suggested the Last Currency, just another currency. I never suggested they buy more(unless the Fed/Treasury feels that at that point it the best plan).
And of the gold they have, where did much of it come? Of the IMF gold where did much of it come?
The government owns Nothing, Ron. Everything that the Government "owns" & everything that is "The Government" came from "We the People", and belongs to "We the People".
If they now wish to rid themselves of this terrible asset gold, then give it back to those they got it from, and I'll agree to getting it back at that $42 rate, thank you. Some came from my Grandfather during the depression. I'll gladly take it back.
If they don't want the gold, and claim it's only worth $42, then come the end of the year, send me my tax refund in bullion valued at that $42 number.
This is the greatest single farce with-in the whole gold sale scam, it is not to free up assets, it is so "they" can gain the value between it's on book price and market price, and keep it with-in the government and not return it to the people.
That is why governments are willing to sell a commodity at a cost below that of production, it is so that they may gain the value between book and the current price, even a depressed current price.
You say I can do better than that, so can you. The frational reserve system is a widely accepted theory. The "all or nothing" is your argument,not mine.
If we must sell every last ounce of gold, why not then call for repayment of the French & British WWI & WWII debt? |
