That kind of confuses me.
If they give out dollars for gold to increase the value of the dollar, doesn't that defeat the purpose of gaining the gold. And wouldn't more dollars in circulation lessen it's value?
or am I way off?
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| Author: | Kyle [ August 8th, 2007, 9:10 pm ] |
| Post subject: | Political Question |
So its no lie that the Value of $1.00 isnt worth as much as it was 10 years ago. I blame large trade with other countries, china, Mexico, etc..... America's money gets its value for the gold it owns in the nations vaults in Kentucky. So for every $1 in circulation there is a $1 of gold in a vault a Fort Knox, congratulations you know how know basic economy works in America. Now America got 70% of its gold from citizens of America, did they go into there house and steal it? No they legally took it from them. in the 30's a bill was put into place banning citizens of the United States of America from owning gold. So a man would take his family's gold, rings, watches, bracelets to a government building and turn them in. If he turned in $50 of gold he would receive $50 in cash, which was a really good deal in the 30's for America was in a depression. So my question is do you think this is right? Should the government ban gold from being owned in America for the Next 5 years. -I agree with this 100%. Turning gold in for cash is a great way to raise the value of a dollar. |
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| Author: | Adbot [ August 8th, 2007, 9:10 pm ] |
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| Author: | ryan1 [ August 9th, 2007, 12:04 am ] |
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That kind of confuses me. If they give out dollars for gold to increase the value of the dollar, doesn't that defeat the purpose of gaining the gold. And wouldn't more dollars in circulation lessen it's value?
or am I way off? |
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| Author: | Pat [ August 9th, 2007, 1:04 am ] |
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Who knows, maybe the value is decreasing because it isn't actually being backed by enough gold. |
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| Author: | CreepyPirate [ August 9th, 2007, 2:39 am ] |
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ryan1 wrote: That kind of confuses me.
If they give out dollars for gold to increase the value of the dollar, doesn't that defeat the purpose of gaining the gold. And wouldn't more dollars in circulation lessen it's value?or am I way off? Pretty much what i was thinking. Don't think you can raise the value like that, can't see it working. |
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| Author: | Kyle [ August 9th, 2007, 6:26 am ] |
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ryan1 wrote: That kind of confuses me.
If they give out dollars for gold to increase the value of the dollar, doesn't that defeat the purpose of gaining the gold. And wouldn't more dollars in circulation lessen it's value?or am I way off? No, if i give a dollar out and receive a dollar in gold it equals out. The government could give everybody in The world $1,000 as long as they received $1,000 in gold from everybody. It would still raise the value. |
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| Author: | Mushroom Queen [ August 9th, 2007, 1:41 pm ] |
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What? Why should America ban gold? They're not in a depression that is drastic enough for people to exchange family heirlooms for cash. Sorry, but that's a pretty cracked up idea. |
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| Author: | Adbot [ August 9th, 2007, 1:41 pm ] |
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| Author: | The Killer [ August 9th, 2007, 9:32 pm ] |
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What's so bad about it? If the currency is still the same, I'd pay $2000 for the guitar I want rather than $1200. And that's bad. |
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| Author: | Brandt [ August 9th, 2007, 10:03 pm ] |
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I dont believe this should happen. Gold is a major industry and trade in the world, and if one power house country full of gold traders had to trade in their gold for the base value at american prices, the gold industry would plummet and prices would rise to points of extremes. This is stupidity. The US doesnt need to get more gold, but rather start to pay off the debts that it owes by spending less money on Military defence. Over 50% of ALL government spending goes into military defence. This is pointless in my opinion. We are in very little threat from a missle attack, and you cant predict a terrorist attack. |
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