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<p>[QUOTE=&quot;Michael K, post: 2920146, member: 78298&quot;]The amount of money in circulation, compared to the value of the gold in Fort Knox:</p><p>There are currently 147.3 million ounces of gold in Fort Knox, KY at 1300= 191.5 billion dollars. The amount of currency in circulation (July 2013) was 1.2 trillion dollars. Let&#039;s bump that up a little and say there is 7 times more money than gold worth. So a dollar is worth 14 cents. And a 20 dollar bill is worth less than $3.</p><p>Salaries, rents, all goods and services would have to be adjusted. As well as all holdings in banks, CDs, IRAs, stocks etc. New currency would have to be produced to reflect the devaluation. Old currency and coins would have to be turned in.</p><p>Gold does have value. Mostly for jewelry. There are industrial uses, but it is usually too costly, and inexpensive alternatives are used.[/QUOTE]</p><p><br /></p>

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