You do realize that most of the elites, not to mention our enemies, like China, are sitting on a boatload of gold.
The rest of us are going to be at the bottom of the barrel.
And just exactly, how much gold IS in Fort Knox?
Anybody do a survey lately? Did they drill down into it to make sure it was solid? No zinc core?
Yes, China has been buying and hoarding gold. We had the advantage because oil had to be bought in dollars. Russia, China, Iran, and other countries have been making deals to use other currencies.
Not sure that matters. All you’re doing is fixing a standard value measurement to the dollar, like fixing a standard measurement to your scales at home. When you don’t change the standard measurement of your scales at home, you can rely on what’s its telling you about whether you’ve lost or gained weight. In the same way, when you don’t arbitrarily change the relative measurement of the dollar, you can rely on prices giving an accurate reading of value. Not sure you have to have the gold locked up somewhere. The only good that might do is possibly keep the value of the gold static I guess, but I don’t think it would. Even on the gold standard, the gold itself would change relative value, but its relative to the market and dollar prices are still reliable. Reliable prices, like reliable weight measurement, is the point of having an external standard like the gold standard.