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Old 10-10-2005, 04:07 PM
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Join Date: Feb 2005
Posts: 281
Default Re: Bye, Bye Old Dollar Standard

If all the world's economies tanked in a depression, and the money supply contracted greatly, there might be enough gold in the world to 'back' all the currencies. Chances are none of us would own even a sliver of gold in that scenario. There isn't enough gold in the world to reflect the value of our economies, probably why Nixon had to get the US off the standard - just a thought.
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