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<p>[QUOTE=&quot;InfleXion, post: 1622208, member: 29012&quot;]If this were done in the US it would be out of necessity as a last ditch effort to restore faith in currency. However if China does it they would be doing it to take over as the world reserve currency, and if any nation goes back to a gold standard the rest will be forced to follow suit or else nobody will want their devaluing currency. Right now we are in a race to debase so there is no clear winner. Although I would argue the Russian ruble is in the best position with positive real interest rates. My take on the gold window closing was that we ran up our national debt in the Viet Nam war, essentially abandoning the gold standard long before 1971 which is when we officially declared gold was no longer redeemable. That was a reaction to nations asking for their gold back after we had already begun printing more dollars than we had gold to back them up.[/QUOTE]</p><p><br /></p>

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