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<p>[QUOTE=&quot;fatima, post: 1351648, member: 22143&quot;]No that isn&#039;t correct because the value of those items are still expressed in $s and not grains of Au.&nbsp; Prior to 1969, the value of Ag was still expressed directly in terms of the value of Au in terms of grains because the government was still making redemptions (locally for Ag and internationally for Au) of USD in for the metal. This doesn&#039;t exist now for obvious reasons.&nbsp; i.e. the unlimited printing of USD. </p><p><br /></p><p>Furthermore people hold gold to preserve wealth being destroyed by money printing, lack of regulation in the finance industry, and low interest rates.&nbsp; At some point in the future, when that gold is redeemed, there is no guarantee they will use this wealth to purchase any of the items you mention.[/QUOTE]</p><p><br /></p>

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