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<p>[QUOTE=&quot;Cloudsweeper99, post: 1018769, member: 3011&quot;]Your guess is, as usual, wrong.&nbsp; Reread post #5.&nbsp; I fully acknowledged the existence of the gold certificates [but not physical gold].&nbsp; You seem desparate to take this thread in a different direction.&nbsp; The point is and always has been that the existence or nonexistence of the gold [certificates] is not an issue.&nbsp; Look at the Fed&#039;s balance sheet.&nbsp; FRNs used to be backed just about 100% by US government securities.&nbsp; Now they are backed by a lot of mortgage backed securities and other assets of doubtful value, and nothing happened.&nbsp; This is the real world.[/QUOTE]</p><p><br /></p>

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