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<p>[QUOTE=&quot;C Jay, post: 1366243, member: 13184&quot;]One sided exchange rates don’t work.&nbsp; Back in the old SU in the 80’s the official exchange rate set by the Soviets was $1.55 per Ruble.&nbsp; On the streets in Moscow I could get 8 to 10 Rubles per dollar.&nbsp; Pepsi tried to broker a deal with the Soviets, but no one could agree on the exchange rate.&nbsp; They settled on a barter of X gallons of Pepsi for X gallons of vodka.</p><p><br /></p><p>The true world reserve currency is gold.&nbsp; It doesn’t matter if it has an Eagle or a Sovereign stamped on it, an ounce of gold is an ounce of gold.&nbsp; It is the yard stick by which all nations compare their currencies.&nbsp; If we were to do a straight FRN to Gold Reserve conversion, it will result in the debasement of the dollar and bringing on the hyperinflation that it was meant to avert. It would have to be universal or not at all.&nbsp; Some industrized countries don&#039;t have a gold reserve.</p><p><br /></p><p>I think we tend to confuse gold with actual wealth.&nbsp; Gold is a container and nothing more.&nbsp; True wealth is the sweat of your brow and value of your goods and services.&nbsp; Two empires settled the new world.&nbsp; One found gold and the other found nothing.&nbsp; After 150 years, the most wealth part of the world per capita was settled by those who found nothing, and created much.[/QUOTE]</p><p><br /></p>

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