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>everything to do with gold more than doubling in price in a year. Gold's price doesn't change, it's 42 2/9 US Dollar per fine troy ounce[1], and has been since 1973. The problem is that this exchange rate hasn't been enforced, or adjusted since then. This allows the spot price to set the effective price of the dollar in a reciprocal arraignment. Since, the "Gold Window" was closed by executive order, I posit that, In theory, Donald Trump could get a bunch of conspirators together, with 10.4 Billion in cash (the "Book Value" of the US Gold Reserves), and direct the Secretary of the Treasury to re-open the gold window, in private, and drain the US reserves, personally. Edit: Nope... the law changed, thank goodness. If the US somehow re-anchored the Dollar to Gold, the deflationary collapse would crush the economy everywhere, instantly, as all dollars outstanding would increase in real value by a factor of >100, and all debts would crush most people, companies, and economies. So, realistically, if we wanted to re-anchor the dollar, the new value would have to be greater than the current spot price. To fully back all dollars outstanding, it would be somewhere between 50,000 and 150,000 US Dollars per fine ounce. I had previously expected this to happen a generation from now, but thanks to the complete collapse of institutional memory, and the current administration, I now expect it to happen before the end of the next administration. [1] https://www.federalreserve.gov/faqs/does-the-federal-reserve... |