He (the guy on twitter) seems to assume that just because the Fed says the price of gold is X that the rest of the world will agree. The ROW may have a different opinion.
I am invested in gold, so I would love to sell at 20k per ounce, but who would buy it at that price?
Just my opinion but I think the government would need to guarantee that they will purchase all gold for the new revalued price. I believe that would set the new floor price for gold for the rest of the world. The government can print all they want to purchase gold. Of course, everything else goes up in price but the debt is gone.
He (the guy on twitter) seems to assume that just because the Fed says the price of gold is X that the rest of the world will agree. The ROW may have a different opinion.
I am invested in gold, so I would love to sell at 20k per ounce, but who would buy it at that price?
Just my opinion but I think the government would need to guarantee that they will purchase all gold for the new revalued price. I believe that would set the new floor price for gold for the rest of the world. The government can print all they want to purchase gold. Of course, everything else goes up in price but the debt is gone.