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.
The "elites" would never let gold be the currency reserve. So if "gold shall destroy the fed" comes to fruition it would be patriot controlled. In that case it may initially go up or down but in my opinion it would soon level out and become stable. I own some gold but mostly I own silver for SHTF trade purposes. Much more important than gold or silver in a SHTF situation would be bullets and beans.
It wasn't gold will destroy (THE) FED. But gold will destroy FED. I dont remember who or what the FED is right now, does anybody know the answer to this ?
Foreign Exchange Department.
u/#q2619
https://badlands.substack.com/p/master-and-commander
Thank you for that !
Have you read that badlands article? It's very interesting.