Which means that the dollar would need to be seriously devalued. But not everyone is going to exchange paper for gold either. Perhaps less than 1% of the population. The rest will keep using fiat currency.
I agree. In the 1950's(gold backed currency days) I remember being excited because I was making 275.00 a month,lol... Bare in mind though gas was like .20 cents and you could a weeks groceries for 7-10 dollars,, even peoples house notes were less than 75 dollars a month and a new car was about 3 thousand dollars. Now it's 2024 and there's commercials on TV where their "selling" gold coins and saying it's a great investment.
Ask yourself the obvious question "if they actually believed gold was such a great investment wouldn't the commercial be offering to "BUY the gold from me instead of them getting rid of something they think is going to be more valuable?"... Just seems backward to me for the world's experts on gold value to be selling gold instead of collecting it up their own selves.. It's actually a really dumb move on their part if you think about it,,, "hey I got an idea, lets get the people to buy the stuff from us that we think would make us extremely rich if we collected it up our own selves". The day I see them put commercials on TV begging us for all the gold instead it would be believable,lol
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Katie Barr the door....
