Understanding through Discussion

Welcome! You are not logged in. [ Login ]
EvC Forum active members: 65 (9077 total)
113 online now:
Newest Member: Contrarian
Post Volume: Total: 893,975 Year: 5,087/6,534 Month: 507/794 Week: 133/89 Day: 17/14 Hour: 3/1

Thread  Details

Email This Thread
Newer Topic | Older Topic
Author Topic:   United States Debt Default
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

Newer Topic | Older Topic
Jump to:

Copyright 2001-2018 by EvC Forum, All Rights Reserved

™ Version 4.1
Innovative software from Qwixotic © 2022