2026 TeoTwawKi ... 2032 Darkest Interregnum Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 399.01

+0.1%

Dec 19 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ilaine who wrote (76871)	7/26/2011 8:50:28 AM
From: Tommaso	1 Recommendation Read Replies (2) of 218633

Actually I already posted a link to someone else: Message 27515224 Even after Roosevelt took the United States off a national gold standard and condiscated gold, the currency remained valued at $35 per ounce of gold (up from around $20). Until 1971, foreign governments, at least, could exchange dollars for gold at $35 an ounce. Since 1971 we have been on a pure paper (fiat) standard. Most recently, the government has been financed by the Federal Reserve buying treasury bonds and notes using newly created electronic deposits to pay for the goverment paper. All this goes far beyond the use of short-term commercial paper issued by reliable businesses to finance commerce. That paper is also often backed by tangible assets, such as a car dealer's inventory. In the early 1700s, in France, there was an attempt to stimulate trade by issuing large amounts of paper money. The result was terrible inflation and a collapse of the whole system. The United States is doing approximately the same thing right now for some of the same reasons: huge government debt and expensive wars.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next