I guess in his mind that goes for the dollar, too. No gold backing, just a spit and a promise of the "full faith and credit of the US."
Need some pseudo GDP? Just print it up. Better yet, just add some more borrowed digits to the bottom line.
Good luck with finding a way to eat it.
Money is that which humans recognize as having a worth.
Not a worth to a government or a monarchy, but a worth to the individual.
If the SHTF, bullets would become money...rusty cans of stewed tomatoes would become money.
Gold...not so much.
9,499 tons of tungsten plated with 1 ton of gold.
Any country that would accept a gold bar from China is crazy. Guaranteed to be adulterated.
Might as well be radioactive.
Yes gold is useless. Call me and I’ll take all that useless junk off your hands.
The listed “price of gold” is trending ever downward but the reality seems to be otherwise. To buy gold for cash over the counter, at least hereabouts, requires a premium of as much as $200 an ounce. The premium for silver is higher as a percentage. $14.65 silver eagles cost that plus $5 and change at the moment. And that is if it is available at all. At the two places in town that sell gold all the gold that might be delivered is already purchased. Large sums have been deposited with the dealers to take whatever gold and silver might arrive in the shops. I can get some silver from time to time because one of the dealers is a personal friend of long standing. The other is a questionable purveyor. I worked for him once long ago and his practices then deter me now from ever having any dealings with his shop. I would suspect tungsten in his gold at least. If anyone could get slugged gold he could.
Goldbug ping.