Interesting tweet, could we be returning to the gold standard?

Discussion in 'Bullion Investing' started by Tuco, Aug 6, 2020.

  1. Tuco

    Tuco Active Member

    Last edited by a moderator: Aug 6, 2020
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  3. GoldFinger1969

    GoldFinger1969 Well-Known Member

    No, we're not going back to a gold standard. :D

    NEXT !!!!
    midas1 and Kentucky like this.
  4. medoraman

    medoraman Supporter! Supporter

    No chance at all. Setting yourself up to be ripped off with arbitrage takers at times.

    One thing most people do not remember. For most of our history, our silver and gold coins did NOT contain that much PM in them. There was almost always less PM than face value, since you need to or the coins will not circulate. Not having enough currency for circulation does a LOT more damage than tying your currency to "hard backing". We experienced this. The US economy was pummeled at times by no circulating coinage/currency due to PM prices peaking.
    midas1, Tuco, Kentucky and 1 other person like this.
  5. Tuco

    Tuco Active Member

    Shoot, the tweet was cryptic but wasn't political. How is "Gold is the standard, but silver linings are pretty great too" not related?
  6. johnmilton

    johnmilton Well-Known Member

    There is no way that we are going back to the gold standard unless the artificial price of gold was set at some 7 or 8 figure amount per ounce. There is not enough gold in the world to back the amount of money that we have in circulation now. The latest moves by the Fed to pay for the Corona Virus stimulus added over a trillion dollars to debt and the money supply.
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  7. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Countries simply have to have control over their monetary policies, as the EU debt debacle has shown us the last 10 years or so.
    midas1, Tuco and Kentucky like this.
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