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

To: RJA_ who wrote (109369)	12/30/2014 1:26:58 PM
From: stsimon	Read Replies (2) \| Respond to of 218033

Instead of backing currencies with gold, we could back them with Oreo cookies or prune juice.

To: RJA_ who wrote (109369)	12/30/2014 1:36:57 PM
From: Elroy Jetson	Read Replies (3) \| Respond to of 218033

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.