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Now they can used unbacked worthless Euros instead, No major world currency can ever be backed by gold anymore there is just not enough gold in the world for that.
If all the gold in the world was formed into a single block it wouldnt even fill up a standard sized tennis court.
Also the the United States abandoned the gold standard in 1933 for United States Notes long before Nixon.
Originally posted by ShadowHasNoSource
Don't you mean all the gold in circulation? Although there's no way to tell for sure, I'm certain all the gold in this huge planet would take up more space than a tennis court. But if you were to put all that gold on the market the stuff would be cheap.
Originally posted by Polar Bear
I do not believe you are being realistic, I believe your sincere blindness is restraining your logic.
Russia's gold and hard currency reserves rose to a post-Soviet record of 113 billion dollars (86.6 billion euros) at the start of September.
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Sorry!
Originally posted by ShadowXIX
Im not sure what point your trying to make about the worlds gold supply with debt stats. I dont remember saying anything about the debt. You were the one that produced a link about Russia's gold reserve having a increase. Trying to prove me wrong with a pointless link I bow to your power of reason.
I am out matched you win
Originally posted by Polar Bear
Carp, Kid it is your pointless link not mine. I believe I have had enough of you. BYE
Originally posted by blanketgirl
how do you just buy gold/silver anyways?
are you talking buying a gold necklace? or a chunk of gold?
Originally posted by superdude
MrNice - I don't pretend to have any understanding of this subject at all. You seem to have a pretty good handle on the financial aspects. Let me ask you as a concerned father of a very young son. Is there ANY way we can come out of this? How do you go about buying gold/silver?