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<p>[QUOTE=&quot;Cloudsweeper99, post: 1018755, member: 3011&quot;]You are wrong again.&nbsp; What you said is that the gold backed by the certificates is what gives people confidence in the FRN.&nbsp; I correctly pointed out that (1) the Fed can&#039;t actually take possession of the gold, and (2) nobody cares as is evidenced by the fact that the Fed was able to issue currency backed by junk assets acquired from the banks that has little or no value.&nbsp; Regarding settlement with other central banks, gold plays no role in this.&nbsp; Central banks are free to buy and sell gold for their own account for their own reasons, but the settlements between them are currency transactions, not gold exchanges.&nbsp; You live in a fantasy world.&nbsp; The rest of us have to invest in the real world.[/QUOTE]</p><p><br /></p>

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