Gold will destroy their scheme.
What happens if it is made illegal to hold for any purpose?
.... As has happened in the Past .... I can forsee a time where, once again, the President will sign an executive order that essentially criminalized the private possession of gold.
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Pre 1965 silver, too.
“Gold will destroy their scheme.”
The problem with gold is you have to eventually convert it into something you can use. You can’t go into a grocery store or car dealership with a fifty-ounce bar of gold. The problem there is determining its purity, or even if it is gold. A Chinese businessman, connected to the CCP, was so successful in faking gold that the Chinese government bought billions of dollars’ worth and didn’t discover it wasn’t gold until some of it went to a Swiss bank. Turns out the bars were beautifully engineered and even if cut directly in half that tiny portion was gold, as was the outside. Then there is faking coins. I have two small coins and the cost of selling them is high. Why? It’s not worth the effort to do the whole raft of tests for small coins and a certain percentage of them will be fake.
The number of retail buyers is low. I’d have to either take a serious hit on the coins selling them locally or pack them off to New York. The people in New York know my options are limited or I wouldn’t be using them, so, again the cost is high.
“Gold” is not what people think it is. And you can’t run a modern economy with gold backing the currency. There simply isn’t enough of it and to account for the amount of paper in the world the price of the gold we have would be many, many times what it currently is just to keep economies from imploding.
No one is happy with the way economies are run and that’s because of politics, not economics. Economies are run by politicians and not the market, so nothing about them is efficient...it’s political.