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Politics : The Obama - Clinton Disaster
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To: DuckTapeSunroof who wrote (10057)3/28/2009 8:33:27 AM
From: Wayners  Read Replies (2) of 103300
 
Yes or two other options. A silver standard....or even better than that, exchange all currency currently issued for smaller denominated notes, which would reverse inflation going back to 1933. Now instead of having $100 bill you would have a $5 bill or something like that, but the buying power of the $5 would be the same as $100 today. I think it would be easier as you said to make gold what it really should be worth. It would be interesting to do the calculaton to see what Gold would need to trade at to actually back all the issued dollars in the world. Seems to me the price of Gold should equal the face value of all dollars issued divided by the number of ounces of gold owned by the Federal Reserve System. These numbers should be readily available from the Fed's balance sheet.
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