WOULD THIS STRATEGY WORK TO HELP CLEAR SOME DEBT AND REDUCE INFLATION?
Just sell a accumulate of bullion you have in Fort Knox…I am certain it is a lot. you theory it was estimated at 137 Billion during a Eisenhower era…
But anyways you pretence you have paid for as well as have some-more stored than which now. What if you were to sell it to China to transparent debt? This would assistance stop inflation. Not certain of any alternative consequences.
Our income hasn been corroborated by bullion given 1971.
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Categories: General Debt Help
The US dollar is no longer backed by gold.
Here is an except from The Federal Reserve System's PURPOSES & FUNCTIONS document.
"After the United States suspended the gold convertibility of the dollar in 1971, a regime of flexible exchange rates emerged…"
The 1944 Bretton Woods agreement established a worldwide parity of exchange rates tied to the USD which was tied to gold at $35 per ounce. This is no longer the case. LG
More money doesn't equal more material.
That's one of the reasons it's there and the reason someone would lend the government a lot of money. If you sell it, there is less "real" backing the value of the US dollar. Would you be willing to lend as much at the same rate to the US government if this backing were gone?
The value of our gold reserves is still about $130 billion. Gold is worth more now but we have less. When compared to a nation debt of 10 trillion, you can see it would not matter very much.
11 trillion in gold reserves. it will just cover the foreign debt.
It might not reduce inflation since dollar will lose its gold backing.