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<p>[QUOTE=&quot;whstler, post: 1119292, member: 29346&quot;]I could be wrong about this, but my understanding is that if someone (let&#039;s say the US government) unilaterally declares that gold is worth, let&#039;s say, $20,000 USD, then everywhere in the world, that is the price that gold would then cost.&nbsp; If someone, anyone, is willing to pay that kind of money for one ounce of gold, then no one is going to sell their gold to anyone else without receiving that amount of money.&nbsp; Everyone will sell their gold to that person or government.&nbsp; Or, if they sell to someone else, then they are going to want that same amount from them.&nbsp; This, then, sets the worldwide price of gold at whatever highest price someone is willing to pay.&nbsp; </p><p><br /></p><p><br /></p><p>&nbsp;</p><p>In the above scenario, according to Gresham&#039;s Law, everyone would want to own gold, rather than USD, though in my mind that seems opposite of what it might be.&nbsp; The artificially overvalued money (gold) will drive out the artificially undervalued money (USD).&nbsp; But as for me, if I had gold, I would probably sell it for $20,000 USD. </p><p>&nbsp;</p><p>Of course, this is all hypothetical.&nbsp; I&#039;ve thought a bit about this, and it still doesn&#039;t quite make sense in my mind.&nbsp; So, I look forward to your thoughts and thoughts from others regarding these issues.</p><p><br /></p><p>Thank you.[/QUOTE]</p><p><br /></p>

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