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The Coming Stock Market Crash and The Death of Money, page-31

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29

01/10/14

12:04

Post #: 14056411
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Originally posted by 23skidoo ↑

"There is not enough PMs in the world to replace our paper money system..."
Common misconception, kingpins.
there is adequate gold to support a new world monetary system. It's just a matter of a colossal revaluation of gold, implying of course that there would be massive winners and losers.
If the political will was to exist, who is to say what price gold could be revalued at?
A political decision to restore a global gold standard will only come when the existing system plays its last card and has nowhere else to go but into the dustbin of history. It has to fail. It can't save itself by morphing into something fair and equitable, and the world is not going to put up with the status quo forever.
23.

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Hi 23

I wish.
From figures that I have read gold is at a ratio of about 5% (or less) to the paper money so Gold would have to revalue by a vast amount which would make it uneconomic to use in industry.

Although I would be happy to see it happen it is just not practical
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