Re: Bye, Bye Old Dollar Standard
My point was that gold has no actual value, other than what we give it, so how does a "gold reserve" equate to real value ?
That being said, buying food by the calorific content, adjusted for minerals and vitamins...or clothes by the insulating value times the surface area, with adjustments for fashion/colour is impossible.
I don't see that gold is a replacement for the aforementioned piece of paper with a ferret printed on it.
What is the value of a T.V. ?
Nothing, or its weight in gold ?
Liberate \'em all
and let God sort \'em out.