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William McKinly
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∙ 12y ago
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How much gold would it take to put US back on the gold standard?
All the Gold ever found in the history of the world isn't enough put the U.S. back on the Gold Standard at the current price of $1725, as of 11-18-2011. Currently the U.S. has just over 8500 tonnes of gold in its possession. The Gold that is quoted in U.S. Dollars is approximately worth $450 Billion dollars. The National Debt is now over $15 Trillion Dollars... at 10% of just the debt we need $1.5 Trillion dollars worth of gold. We are currently at just over 2%. The Bottom line is the value of gold must increase in value 3 times of what it is today or $5175. The Problem is our national debt continues to grow If we go back to a fractional gold reserve currency gold would triple again and who is going to provide the gold when your currency isn't wanted in the world because you ran your deficits through the roof. Now, nations will want their money back in gold, which would put the U.S. at a weekend stance of giving more of its reserve currency then it would want too. Circa 1971, that was the exact reason we came off of it.... France, under Charles De gaulle began requesting their money in gold as opposed to our fiat currency. Causing a major run on the dollar at the time. As well as run on our reserves of gold. JBthird Flint, MI
When lessening the effects of inflation on the economy how much gold did Rome put in its coins in the AD 200's?
they put less.
Was the Great Depression historical or aberration or was it a predictable outcome of the kind of economic system that existed in the United States until 1930s?
The Great Depression was an aberration once all factors dealing with the banking system at the time are put into focus. Bank dealings through the Central Bank, i.e. the Federal Reserve, were based on a gold standard; meaning there was only so much paper money for the gold the United States had on hand. When the Federal Reserve sent money to England to prevent their depression the cash did not flow back to America in a timely fashion and therefore a shortage of cash money became apparent. As long as there was no run on the banks everything was fine. As soon as people withdrew money from the banking system, which was tied to how much gold the Federal Reserve had, the system crumbled and the Great Depression begun in full swing. The adherence to the gold standard prohibited the Federal Reserve from expanding the money supply. This is the main reason the United States no longer relies on the gold standard for the basis of the dollar.
How can an country increase its standard of living?
They should probably put funds into more neccesary areas and increase tax.
What is worth more gold or oil?
Oil will worth a lot more then [sic] gold because oil is hard [sic] to get then [sic] gold. The question needs to be restated because it's not meaningful. Oil and gold are both commodities but they have very different uses and are priced very differently. Oil is priced by volume and gold by weight. Each has an intrinsic worth in its own part of the economy but they're not at all comparable: you can't put gold in the crankcase of a car, and you can't make jewelry out of oil, for example.
A brief history on the gold standard?
In 1873, Congress put US currency on the gold standard, which converted all the currency (money) into gold. This reduced the amount of money in circulation because the money supply was limited by the amount of gold the gov't had. This was bad for people like farmers because it made the debt they had worth more than they owed.
Where do you put transmission oil in standard car?
where do you put transmission oil in a standard car?
Vietnam put America in a that was never officially declared.?
war
Where do you put transmission oil in on a 2003 standard?
where do you put transmission oil in on a 2003 ford rangers standard
Where did the gold rush people put their gold?
they put the gold i their homes.people from the gold rush took their money where ever they go or they stayed their so people wont still it.
How do you put 20863741 in standard notation?
20,863,741 is the standard notation.
What happened when you put gold plated gold in acid?
It becomes acid gold
What happens when gold is put in copper sulfate?
Any reaction occur when gold is put in copper sulfate.
How do you marry Elli?
who the hell is elli? to marry a person you ask for their hand put a ring on it.then you are officially married who the hell is elli? to marry a person you ask for their hand put a ring on it.then you are officially married
What do you call mobile in gujarati?
we can call CHALIT DURBHAS YANTRA. KINJAL
Put theyre in a sentence but about gold?
They're mining for gold.
How do you change liquid gold to solid gold?
put it in the fridge
