Posted on 05/02/2008 5:56:35 AM PDT by kellynla
NEW YORK (CNNMoney.com) -- Stocks futures pointed to a very positive open early Friday, after a government report painted an unexpected upbeat picture of the labor market.
With less than an hour before the market open, S&P and Nasdaq futures were both in positive territory, with a comparison to fair value pointing to a slightly lower start for Wall Street.
According to the Labor Department, there was a net loss of 20,000 jobs in April, less than the revised loss of 81,000 jobs in the March and lower than the net loss of 75,000 jobs forecast by economists surveyed by Briefing.com.
As a result, the unemployment rate dropped to 5% from 5.1% in the March report.
(Excerpt) Read more at money.cnn.com ...
We were small then. It was abandoned because it held back the growth and was unworkable.
No we were not small when Nixon changed it. We were already a Super Power.
The total amount of gold that has ever been mined has been estimated at around 142,000 tons.[6] Assuming a gold price of US$1,000 per ounce, or $32,500 per kilogram, the total value of all the gold ever mined would be around $4 trillion. This is less than the value of circulating money in the U.S. alone, where more than $7.6 trillion is in circulation or in deposit (although international banking currently practices fractional reserves).[7] Therefore, a return to the gold standard would result in a significant increase in the current value of gold, which may limit its use in current applications.[8]
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