[DoodleDawg]

The best way to achieve monetary stability: linking the dollar to gold,” he wrote in the book out today. “The Fed should have only two tasks: keeping the dollar fixed to gold and dealing quickly and decisively with panics,” he wrote, according to excerpts provided in advance to Secrets.

If you link the dollar with gold then when the value of gold drops by a third, as it did in 2012-2013, then wouldn't the value of the dollar drop as well? And couldn't China destroy the value of the currency merely by dumping their gold into the market?

[MrB]

When you say “the value of gold drops”, it’s a comparative value - what are you comparing it to if the dollar is tied to it?

[Beagle8U]

Nope, an ounce of gold would go to about $100,000.00 instantly.

Sell a little jewelry and pay off all your debts and then some. One problem, all the banks instantly fail, along with the federal government.

That $1,000 dollars in your wallet is now worth less than the lint in your pockets!