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<p>[QUOTE=&quot;Digenes, post: 713098, member: 16318&quot;]After reading all the posts to my original question, I am now more confused then I was before, but than again at my age that is not hard.</p><p>Granted I understand and get the point that if price of silver goes up or down than that changes the value of the coin that was minted, IE if you mint dimes with silver in them and the price drops to a point below what is the dime, then the coin deflates in value. Thus the reason we went away from silver in coins to begin with. The price of silver rose to a point where he dime/quarter/half dollar was actually worth more than the coin itself.</p><p>&nbsp;</p><p>Right now as far as I can recall basically all countries use gold for money as it is. I don&#039;t recall the bank in which the gold is at, but I do recall that it is in NY City. When any country buys anything from another country and order is sent to the vault to move said amount of gold from country A&#039;s area to Country B&#039;s area. As an Example lets say the Saudi buys 10 million in spare parts for Jets from the US. An order comes through and the 10 million worth of gold is moved from the Saudi&#039;s area of the Vault to the US&#039;s area of the vault.</p><p>&nbsp;</p><p>Now what confuses me or I have to question is. Isn&#039;t this basically a gold standard for money already? Do they look at the spot for that day or for the time the order comes through and than move that amount of gold. Or do countries have a set price at which they value gold to do trade between them?</p><p>&nbsp;</p><p>Like I stated in my original post/question the US had a set value for silver. I don&#039;t recall the exact amount but it was like 2.00 an oz. for when they did their inventory to calculate how much they had in reserve.</p><p>&nbsp;</p><p>Thanks</p><p>Dave[/QUOTE]</p><p><br /></p>

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