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<p>[QUOTE=&quot;Nerva, post: 3016662, member: 87761&quot;]If we had the gold standard now, gold coins would be melted down. The total amount of money in circulation just in the US, taking broad measure (deposits etc, not just notes and coins) is $75 trillion. The total value of gold ever mined is about $7.5 trillion. If that was all backed by gold, we&#039;d need ten times as much as we&#039;ve ever mined. And the US is only a quarter of the world economy. Demand for gold would soar, prices would go through the roof, and even the nicest Roman aurei would end up melted down. The silver price spike driven by the Hunt brothers&#039; speculation caused a lot of coins and antiques to be melted for scrap. And when the price crashed, their ancient coin collection had to be sold. I think the gold standard would be a bad idea today, for lots of reasons. But that one seems especially relevant here.[/QUOTE]</p><p><br /></p>

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