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To: tyc:> who wrote (167029)6/27/2009 1:37:21 PM
From: philv1 Recommendation  Read Replies (1) | Respond to of 313013
 
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.



To: tyc:> who wrote (167029)6/27/2009 6:30:52 PM
From: loantech1 Recommendation  Read Replies (2) | Respond to of 313013
 
Yes and no maybe. Have prices risen over 20 fold in the last 75-80 years? Houses?? cars?? Wages have gone up over twenty times that is for sure so maybe gold needs to reevaluate up using wages?


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