[delta7]

there is nowhere near enough gold in ANY nation’s treasury to “back” that nation’s paper currency,

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That would require Gold revalued. If “ debt” isn’t factored in, $9,000 plus would cover only the amount of paper currency in circulation. If US debt is factored in, Gold must be revalued to $140,000 per oz/t.

This is why China’s goal ( stated in their white papers) is a 40 percent zGold backed currency. BRICS has also stated a 40 percent Gold backing for international settlements.

[delta7]

https://www.us-debt-clock.com/

Alittle off subject, but worth looking at the numbers. The U.S. ( and most the world’s sovereign nations) can not mathematically ever pay it off.

[enumerated]

“This is why China’s goal ( stated in their white papers) is a 40 percent zGold backed currency.”

It’s an admirable goal, but even farther out of their reach than it is out of our reach.

Having said that, aggressive accumulation of gold is a smart play regardless of how small the reserve ratio - I wish we were that aggressive.

My understanding is that the US still has by far the highest gold reserve ratio of any central bank, tiny as it is.

[TexasGator]

“BRICS has also stated a 40 percent Gold backing for international settlements.”

The union that you predicted would destroy the dollar!

Big failure!

Brazil - failing
Russia - failing
India - firming relations with USA
China - lost Venezuela and Iran
South Africa - LOL!