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Originally Posted by spazlabz
I am not speaking specifically about buy gold on the market, but rather the people who see those Gold Line type commercials. They buy gold thinking now their money is secure. Those are not investments in the traditional sense and if they tried to sell back the gold they purchased to the gold 'buyers' they will get about a 60% ROI
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Oh I know rofl. That shit is a scam.
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We haven't been on the gold standard for a very long time. The Gold Standard as I understand it was that US Currency was guaranteed by our gold reserves. It is screamingly obvious that reserve, while it still exists, does not guarantee the nations monetary system.
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We got off in 1971. The Gold standard works very well, even if we are low on gold deposits, we could use the Gold Cover Clause ratio. Growth with the gold standard is slow, but we don't have deficits.