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To: MulberryDraw
Where would the government get enough gold to back all our fiat dollars?

How much gold would that be?

22 posted on 05/11/2011 6:37:12 AM PDT by farmguy
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To: farmguy

Good question. The government has 8,000+ tons but some people question whether they really have it.

http://www.zerohedge.com/article/steve-forbes-us-will-likely-have-gold-standard-within-next-five-years

The FED has added a couple of trillion dollars with QEx.


23 posted on 05/11/2011 7:01:29 AM PDT by MulberryDraw ( Switch off the EPA.)
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To: farmguy

IIRC we (the USA) would need about 20% of all gold ever mined to make the gold standard work again.


30 posted on 05/11/2011 7:48:52 AM PDT by ctdonath2 (Great children's books - http://www.UsborneBooksGA.com)
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