I get it that gold is insurance against inflation. And, it's real money in an economic catastrophe.
My question is on behalf of the Anons who may have purchased some gold coins (but lost them in the lake). If we paid $1000 for one 1oz coin, and the US goes back to a gold-backed standard and values gold at $35/oz., that is quite a loss! I am not that is what will happen, but I present that scenario as part of the broader question: What would gold need to be valued at in our fiat US$ currency in order to be the backing?
Any Anons have a sense for the future value of a gold coin in the gold-backed dollar scenario? A lot of people have purchased gold coins hoping that they will revalue north of $20K or $50K to accommodate all of the fiat floating around. But I just can't see the elites letting people get "rich" so easily.
I think you’re looking at this the wrong way. An ounce of gold will not be ‘revalued’ at over $20k. The dollar will collapse and will increasingly become valueless. In this sense, as the Petrodollar collapses, the price of everything will rapidly increase. I know this will seem like a revaluation because the cost of gold/silver will skyrocket, but it’s a subtle but important difference.
Someone on here a while back did some math, and if the government took the current known US gold supply and spread it across the total issued US currency, they would have about a grain of rice sized piece of gold for every $2000 in circulation. Just to contextualize how out of control the money printing has been… and it’s getting worse.