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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 383.12+0.8%Nov 26 4:00 PM EST
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To: RJA_ who wrote (109369)12/30/2014 1:36:57 PM
From: Elroy Jetson  Read Replies (3) of 218051
 
Trying to make the price of gold fit a financial structure thousands of times larger would have disrupted the market for gold in electronics and other industries for no good reason.

It simply doesn't make economic sense to arbitrarily remove one of the elements on the Periodic Table from commercial use.

Apart from the stupidity of it, repricing gold would have violated the Bretton-Woods agreement just as effectively as suspending convertibility.
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