GOLD gold futures
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from ainsley bullion company today - re china, page-4

  1. jantimot
    30,924 Posts.
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    09/05/13
    17:52
    Post #: 11744877
    Years back (2005ish?) I calculated that if it was based on M1 it would be $32,000/oz, M3 over $100k.

    So it ain't gonna happen like that.

    But then, with a lot of delving I found that the USD hadn't been 100% backed by gold at M0 since at least 1911 - couldn't get back further than that.

    Just to clarify - the USD (even before it was bastardised into the "Federal Reserve Note") has never been 100% backed by gold for over 100 years, which takes us back even before the inception of the Fed.

    So the best you can hope for is a partially backed USD. Even if it is all there, which it ain't.
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