All the gold in the world is only worth around $15 trillion or so.
Not enough to back our debt, much less our annual gdp.
“All the gold in the world is only worth around $15 trillion or so.
“Not enough to back our debt, much less our annual gdp.”
At what price? There will always be enough gold to back the currency, just as long as the price of gold is free to rise. The cheaper the paper currency, the more the price of gold rises. That is why the so-called “gold bugs” keep buying gold; they know that as long as governments keep printing money, the price of gold will keep going up.