http://www.coinweek.com/commentary/...tform-calls-for-new-gold-standard-commission/ NO POLITICS in the thread, and believe me I have some sharp ideas on this party politics.
The platform calls for a "commission to investigate possible ways to set fixed value for the dollar" with a metallic basis. A platform is a non-binding document. So basically, the GOP is saying it's a good idea to have a commission meet in a 5-star resort, stay in stunning suites, drink fine wines and dine on gourmet meals while they decide, as happened in 1981, not to chase this particular chimera.
How can this thread NOT devolve into a political discussion? It's just a way to reward good friends of the party.
People can say going on the gold standard is a must, and sound as though they are making some valid points. But, the truth is it cannot and will not ever happen; end of story. Our "fiat currency" will continue to work so long as our country once again becomes innovative, hard working, and fiscally responsible.
As for the OP, it will never happen. There just isn't enough PM out there to back every dollar with it's current value in PM. I suppose they could decide that every $10,000 is backed by one ounce of gold held in reserve by our government, or more reasonably one ounce of silver... :rollling:
This is one of those borderline subjects of backed currency. Keep it on the currency side and not on the political side. Ruben, you know this post is incendiary and the subject has been presented many times in the bullion section. Offending posts will be deleted.
