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<p>[QUOTE=&quot;Clawcoins, post: 2703738, member: 77814&quot;]Actually, I may not recall correctly but I think MOST major economies abandoned the gold standard during the great depression both before and after the US did.</p><p><br /></p><p>and with all this talk of gold standard.&nbsp; Wasn&#039;t the Federal Reserve Act of 1913, which created the Federal Reserve Note, only require Gold Reserve at 40% of notes in circulation?&nbsp; not 100% which people seem to think.</p><p><br /></p><p>And the 1934 Gold Reserve Act only allowed the Prez to devalue the US Dollar by only up to 40%.</p><p><br /></p><p>which ironically I think is the 40% of gold holdings vs current debt.</p><p><br /></p><p>Then as noted earlier, the Bretton Woods agreement of 1944 (which was to peg the US Dollar [not gold] to fix it to help curb deflation.&nbsp; Also as a standard for settling debts, so countries would opt for the USD or gold to settle debts) allowed all countries to redeem their dollars for gold ... which many did.&nbsp; Which forced the US to stop that several decades later.</p><p><br /></p><p>There&#039;s so much one could write about this stuff ...[/QUOTE]</p><p><br /></p>

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