Our currency left the gold backing in 1972….Nixon removed us from a gold backed currency.Secondly, all nations of the EU are buying gold by the tonnage.
The Basel agreements state Gold physical is a Tier One asset.
It took Germany six years to repatriate their gold from the US- we do not have what they say we have.
Our currency left the gold backing in 1972….Nixon removed us from a gold backed currency.Secondly, all nations of the EU are buying gold by the tonnage.
The Basel agreements state Gold physical is a Tier One asset.
It took Germany six years to repatriate their gold from the US- we do not have what they say we have.
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Do you have a reference. My understanding is that the U.S. has 70% of its currency backed by gold. That’s not bad but could be better. I was surprised that our gold reserves were that high. It’s not the end of the world, at least, not yet.