Thread: The Crowd Around the Gold Counter

The Crowd Around the Gold Counter

By PAUL SULLIVAN
Published: October 8, 2010

Gold evokes emotions from investors like few other investable assets. Whether it is increasing or decreasing in value, people usually have an interest in it beyond its intrinsic value as an investment.

Wealth Matters
Paul Sullivan writes about strategies that the wealthy use to manage their money and their overall well-being.

“If I went outside and talked about gold, everyone would have an opinion on it, including the taxi drivers,â€

when the novelty of money goes out the window, the public still needs to eat and s#@t. gold is SUPPOSED TO BACK THE CURRENCY. now, with the huge numbers involved, wheres all this gold? the population way exceeds the gold.

Originally Posted by draindog

when the novelty of money goes out the window, the public still needs to eat and s#@t. gold is SUPPOSED TO BACK THE CURRENCY. now, with the huge numbers involved, wheres all this gold? the population way exceeds the gold.

The U.S. Dollar hasn't been backed by gold since 1971.

On August 15, 1971 , President Richard M. Nixon announced that the United States would no longer redeem currency for gold. This was the ...
www.econlib.org

History of Fiat Money
August of 1971 President Nixon ended the international gold standard and

for the first time no currency in the world had a gold backing. . . .
www.kwaves.com/fiat.htm