“Gold never transacted is unfit for transcation.”
Not sure if it can’t be transacted. Just that it trades at a lower worth amount than when it was put into storage.
But since the feds started printing more than replacement money they have been deflating it anyway. When you print a dollar that represents a dollar’s worth of gold, as that’s what it is supposed to do, and you print another dollar, and don’t destroy the first one, you now have 2 dollars representing the same gold thus each dollar is now worth 50 cents. And if you do that enough since starting that in 1971, it brings the entire value down. But the 50 cents can be transacted. And I’m not sure if they know how many bills they under covered.
wy69
but who cares now?
The point of confiscating all that gold and burying it for decades was to prevent it's use as a basis for any currency. How pure, or even how much, doesn't really matter. Goldfinger was late to the game.
The Von Mises folks know all this They are just trying to trick someone important into admitting it.