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<p>[QUOTE="Cloudsweeper99, post: 1179410, member: 3011"]Gold doesn't have to circulate to have a gold-backed currency, and the amount of gold in hand isn't that important. All it takes is to begin backing all or part of the currency issued by the Fed with gold instead of with US Treasury securities. In a world of fiat currency, one backed partly by gold will come out on top.[/QUOTE]</p><p><br /></p>
[QUOTE="Cloudsweeper99, post: 1179410, member: 3011"]Gold doesn't have to circulate to have a gold-backed currency, and the amount of gold in hand isn't that important. All it takes is to begin backing all or part of the currency issued by the Fed with gold instead of with US Treasury securities. In a world of fiat currency, one backed partly by gold will come out on top.[/QUOTE]
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