“This would be a horrible idea and would cause interest rates to double in about five minutes. That would cause the market to crash.”
Please explain how interest rates would go up.
Please explain how the market would crash.
Because if the US is revaluing gold from $42 to $5k, it will send a shock through the markets that there are huge financial issues and that the government will devalue the dollar to pay back debts with crap money. How would you think the bond markets will respond?
Oh, but the 1/10 of an ounce gold coin in your pocket will be worth a lot of dolllars! Cool.
Really, this stuff is galactic stupid level.