Quote:
Originally Posted by The Demon
Please explain this. I bought gold around the 700 mark and I've made a hefty profit. Gold is the perfect currency and has been for thousands of years. We've prospered while on the Gold Standard. You'll need to explain yourself.
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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
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.
WE are not on the Federal Rserve System
http://en.wikipedia.org/wiki/Federal_Reserve_System
spaz