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Author Topic:   United States Debt Default
Stile
Member
Posts: 4075
From: Ontario, Canada
Joined: 12-02-2004
Member Rating: 3.8


Message 66 of 211 (625105)
07-21-2011 12:09 PM


Sillyness, then?
Forbes Predicts US Return to Gold Standard

I would guess that replacing paper-money with actual gold coins would be... exceptionally silly and pretty much impossible.
However, I think they are talking about a gold-backed standard, where the government sets a price for gold and will exchange money-for-gold at that price. Or something like that, I don't know too much about the workings...

My question is, would something like this actually happen?
If it did happen, would it be beneficial to have gold-on-hand? (or is this an 'it depends...' type of question?)

I don't really understand the government-exchanging-money-for-gold... part. I mean, what's so special/different about it?
Can't anyone exchange their money for gold at anytime anyway? Why would it be special if the government decided to do it?

-A Casually Interested Canadian


  
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