[GourmetDan]

"The fact that the notes are convertible to bars on demand is where we get turned around."

Try taking some fiat to the Fed and 'converting' it into a gold bar.

You'll get turned around all right... and thrown right out the door.

[expat_panama]

Try taking some fiat to the Fed and 'converting' it into a gold bar.

This is getting silly, we all know federal reserve notes are exchanged for gold bars every day.