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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 387.98+1.3%Nov 28 4:00 PM EST
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To: bart13 who wrote (109399)12/31/2014 10:26:40 AM
From: Metacomet  Read Replies (1) of 218081
 
but that was in an environment where there was a built in limiter to excess money printing - namely gold and silver.

In a sense we simply lost control of the dollar when it became the de facto world standard sometime after that

As has been pointed out, there is no realistic way that the US dollar, which had become freely circulating worldwide, could be tied to a specific quantity of gold and silver and retain its trading utility

It simply outgrew that concept

The fact that the severance of the gold standard did not stop the worlds reliance on the dollar for trading simply underscored that its value is recognized more as a trading medium than a store of value

..that, and the trust in the US as an honest broker..so far
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