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<p>[QUOTE=&quot;rodeoclown, post: 1326420, member: 34005&quot;]Is that an admission finally? Because you kept preaching that the gold has to be there and the Federal Reserve must keep enough gold to equal the amount of currency in circulation. I can go back and quote if I need to. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" /></p><p>&nbsp;</p><p>Actually 1913.</p><p>&nbsp;</p><p>Which again, is pretty much trumped by the Nixon Shock I&#039;ve pointed out that pretty much bases our currency on the fiat system, not particularly backed by gold or precious metals. I don&#039;t think you read any of it or understand the principles behind it because that&#039;s why it was nicknamed with the word &quot;Shock&quot; in it because it&#039;s pretty much saying our money is worthless, just trust the government, we don&#039;t need to tell you gold or anything valuable is backing our money, a dollar is worth a dollar, &quot;so let it be&quot;.</p><p><br /></p><p>Okay, I shouldn&#039;t have kept referring to the gold standard, I&#039;ve been arguing the point that our current federal reserve does not rely on their stash of gold to back up our money in circulation, for all we know they&#039;ve invested in valuable Lego&#039;s that are in high demand. According to most recent reports, we still have the largest gold stash out of all nations, but it would only make up a small percentage of the money in circulation today, so like I said, gold or no gold, it really wouldn&#039;t make that much of a difference, especially when we have people who don&#039;t even know what the Federal Reserve is. ****, we have a large percentage of adults who can&#039;t even tell you where the United States is located on a map. So I doubt if the government were to say they no longer have any gold, there would be mass chaos.&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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