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Strategies & Market Trends : Ride the Tiger with CD
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To: tyc:> who wrote (167029)6/27/2009 1:37:21 PM
From: philv1 Recommendation  Read Replies (1) of 313017
 
From my understanding, gold did not trade freely, and the price was controlled and set by the government. They obviously had the price too low. Before revaluing the gold upward, did they not confiscate private gold first? Talk about manipulation, right in your face.

Another way of looking at it is the dollar was effectively devalued against gold. Some gold bugs think such an event could happen again, but of course we are not on a gold standard any more.
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