Regarding gold: If the US goes back to a gold standard (as part of the "gold will destroy the fed" concept), what happens to the price of gold? - The Great Awakening

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Regarding gold: If the US goes back to a gold standard (as part of the "gold will destroy the fed" concept), what happens to the price of gold?

posted 1 year ago by changeagent 1 year ago by changeagent +136 / -1

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.

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– Windows8866 2 points 1 year ago +2 / -0

Gas was 30 cents a gallon in 1975 here in the southeast. Of course, you had to wait for your day to get it. Called gas rationing

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– Trump4evergirl 1 point 1 year ago +1 / -0

I remember that. By that, I mean the nightly news talking about it. I remember seeing gas lines on the same nightly programs in about 1979. I would’ve been a kid then so I may be a year or two off. Here in Nevada, we’ve always been paying more for gas than the national average, at least since I started driving in the 80s. If I’m not mistaken, it’s cheapest in your area and up north by Montana and the Dakotas.