A Return to GOLD Standard WHAT EFFECT WOULD THIS HAVE

[cw0909]

if this should pass?

m not a savvy investor,but the little i do know,it seems the $$ price of gold would drop back to 3-400 an oz,
but i'm not sure who this would benefit and how this would benefit the gen pop of america. opinions?

info
Republicans Eye Return to Gold Standard  - US Business News - CNBC

 

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[Marchas45]

I don't seeing the price of gold or silver dropping if the gold standard came back. Remember there is not that much gold out there and less silver. The Cartel want a gold standard after the SHTF because they have been stacking it as are quite a few countries in the past few months. Don't let the Shills send you the wrong way with false information. Does the government have all the gold they say they have? I for one doubt it but that's only me.

Keep stacking folks I believe we are in for a great ride in the next couple off months. Charlie

 

[Treasure_Hunter]

Charles good to see your still here....

 

[jim4silver]

If gold is to back all the current outstanding US dollars that exist either in paper form and digital form, the price of gold per ounce would go up much higher than it is now. The amount of total "dollars "that exist now either in paper form or in bank accounts, etc, is in the many Trillions, where the current dollar value estimate of all gold ever mined since the dawn of man, would be around $8 Trillion or so, from what I remember reading. There was a link on here months ago that showed the value and it was just an estimate but seemed reasonable based on the data it provided. If we use that figure, the price of gold per ounce would have to be made much higher to find enough gold to back all those outstanding dollars.

Finding enough physical gold to back a currency would be very hard without jacking up the gold price to be able to back the Trillions of dollars that would need to be backed, not to mention any new ones due to future QEs, etc. I would imagine that a large percentage of all gold in existence is now in countries other than the US, as many are accumulating gold in fairly large amounts over the past few years.

I am skeptical that there will ever be a gold standard though. It would be hard to "print" money and inflate if it had to be backed by actual metal. It is good though that they are even talking about it and it is coming from the more main stream politicians.

Just my opinion.

Jim

 

[Marchas45]

Never have left TH just posting less. Lol That way I stay out of trouble. Lol Truth be known I have been hanging about on a Silver Stacker site which I really enjoy. Charlie

Charles good to see your still here....

 

[cw0909]

thanks for the replies,im trying to fig away to get 50k back,by the time i hit 65, in 8yr
i took a beat down in 04,on stock,bonds,i have 4k,but dont want to do S/Bs again
it was and is hard to save,just saving i fig i might have 15-20k by 65. i didnt 2nd M
my house,now i wish i had and bought metals,4yr ago i sold my house and bought
a smaller cheaper,i lease it and live in a small apt,nice thing about the apt, heat and
cable is included,so im lucky no real debt,still saving is tough
ill keep an eye on this metals forum,and see what i can glean