Right so if they ever needed to sell it gold going down on the open market isn’t really good for currency that has gold reserves. Like it used to be when you could redeem gold for paper and back both could go up together. Now the different reflects how much paper promises has been devalued. Raising the price of gold without eliminating the debt and raising the value of the dollar, would just devalue the paper dollar more. At the same time they need the dollar down for trade. Being a reserve currency isn’t good for the economy. Electing or appointing mismanagement isn’t either.
No Comments
No comments yet.
RSS feed for comments on this post.
Sorry, the comment form is closed at this time.