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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: ackerrj who wrote (5505)4/11/2006 4:43:21 PM
From: Moominoid  Respond to of 219610
 
The question is what would the price of gold be if all the Fed Reserve notes were formally backed by the US gold reserves instead of at the moment a mixture of gold, FOREX, and bonds, and mainly bonds.

Bank accounts are money too, but under a gold standard they don't have to be backed by gold...



To: ackerrj who wrote (5505)4/11/2006 11:15:31 PM
From: energyplay  Respond to of 219610
 
Hi ackerrj -

The cash on demand is counted with currency and coin to make the M1 montary aggregate.

I'm not sure if demand deposits need to be back with gold....

*********

The Fed people did well at 9/11, and prior to that at LTCM.

It is an independent agency, with only limited Presidential input. That was the intentional design.


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