The US dollar is completely safe...

The US has the world's largest reserves of Gold (more than two times as large as the runner-up) for a reason.

Should the Dollar be less competitive in the market, the US can back its coin with Precious Metals and drastically turn back inflation until the economy smooths over.

This is actually the plan, not just some corn-ball possibility.

And your sources for this are.................................
Please site where you heard this from. Also, I think, last time I checked, there is more currency than gold all over the world, and the world economy is really built of a house of cards.

The world economy is built on purchasing power parity...which isn't exactly "nothing".

And do you have a better explanation of why the US would stockpile Gold?

I think, last time I checked, there is more currency than gold all over the world, and the world economy is really built of a house of cards.

You are indeed correct mistress! Here in the US we have "Federal Reserve Notes" which are a joke!....and the owners of the FED laugh all the way to their banks every day.......

The world economy is built on purchasing power parity...which isn't exactly "nothing".

And do you have a better explanation of why the US would stockpile Gold?

You were asked to show some sources or A source for your comments Rus....
do you have any source(s)??

Where is the stockpile?
What is the value of the stockpile?
How much money is actually in circulation in the US?
What is the true current national debt in the US?
If we have such a MASSIVE stockpile of gold, why are we so many trillions of dollars in debt?

[edit on 30-8-2006 by Excitable_Boy]

Sources: Dr. Thomas R. Dye

The value is whatever 8,133.5 tonnes comes to.

$180.1 billion is what wikipedia says.

The true debt of the US is as much as 20 something trillion, doesn't matter, because it can be defaulted.

We're in debt because that's how our system CURRENTLY works.

Defaulting on our debts? Oh yeah. What a noble idea. Wouldnt the world love us even more.

If we defaulted on our debts, it would be disasterous for everyone, including us.

The US stockpiles gold for the same reason other countries stockpile gold and stockpile anything else. Because it has use and value. Not because it is capable of backing ours or anyone elses economy.

That's not the reason for stock piling, if it has use or value then what the US just sells gold for money? Haha...yeah right.

Originally posted by Stratrf_Rus
Sources: Dr. Thomas R. Dye

The value is whatever 8,133.5 tonnes comes to.

$180.1 billion is what wikipedia says.

The true debt of the US is as much as 20 something trillion, doesn't matter, because it can be defaulted.

We're in debt because that's how our system CURRENTLY works.

20 something trillion

Hmmm.... And the M2 of Iraq is 20 trillion dinars, and half or more is probably owned by the US. So if they were to revalue their currency to the Saddam rate of $3.22 US = 1 IQD then that would clean up the debt of the US and make GWB look like our saviour.

Hmmm.... And the M2 of Iraq is 20 trillion dinars, and half or more is probably owned by the US. So if they were to revalue their currency to the Saddam rate of $3.22 US = 1 IQD then that would clean up the debt of the US and make GWB look like our saviour.

Say what? What in the world are you talking about?

Originally posted by RetinoidReceptor

Hmmm.... And the M2 of Iraq is 20 trillion dinars, and half or more is probably owned by the US. So if they were to revalue their currency to the Saddam rate of $3.22 US = 1 IQD then that would clean up the debt of the US and make GWB look like our saviour.

Say what? What in the world are you talking about?

The Iraqi currency. The new Iraqi Dinar created for and by America.

Originally posted by Lanotom
The Iraqi currency. The new Iraqi Dinar created for and by America.

Are you going to invest in it? It says you can buy 1 million dinars for 750 dollars...



~~~~~~
mod edit...triple nested quote

[edit on 30-8-2006 by masqua]

Ummm... I hate to burst your bubble (pun intended )

But the US gold reserves supposedly held at Fort Knox have not been properly audited since the Eisenhower administration. So nobody knows for sure how much is there.

Also the US has defaulted in the past. Nixon closed the "gold window" and trashed the Bretton Woods Agreements in 1971. they refused to honour the $35 per ounce gold price when France tried to redeam gold for some of it's reserves. The US renegged.

They did that, coincidently, as the US reached peak domestic oil production (just as projected in 1956) and began slidding down the long slope of an economic decline that has seen them go from the world's largest lender to the world's largest debtor. The importation of energy needs from abroad is a signal that the middle is not self-sustaining.

And please, if someone knows all about some Iraqi Dinar scheme being run by the "powers that be" well, what are you waiting for? Do some research and post a thread!
.

Originally posted by RetinoidReceptor
Are you going to invest in it? It says you can buy 1 million dinars for 750 dollars...

LOL! 20 Trillion Dinar as M2, 12 Billion USD reserves and under 3 mbd oil output. No thank you. Besides they will cut off zeros and change the currency before there is a revaluation.

Gools, they know exactly how much the US reserves are, there is no such thing as "unaccounted for Gold" except in Jewlery.

Originally posted by Stratrf_Rus
... they know exactly how much the US reserves are, ...

"They" know? Who is "they"? It's certainly not you and me.

Is it the gum'int? The Central Bank? The Treasury Department? You don't believe everything they say do you?

So... ummm... why do you think US Senators like Ron Paul, a Republican from Texas, are demanding an audit? house.gov?
.

Originally posted by Gools

Originally posted by Stratrf_Rus
... they know exactly how much the US reserves are, ...

"They" know? Who is "they"? It's certainly not you and me.

Is it the gum'int? The Central Bank? The Treasury Department? You don't believe everything they say do you?

So... ummm... why do you think US Senators like Ron Paul, a Republican from Texas, are demanding an audit? house.gov?

.

They is the World Gold Council and other groups such as brokerages.

And I'm sure the reason they are demanding an audit is bureaucracy more than anything...for Fort Knox the reserves will be what they were last audited as ... unless gold sprouts legs and walks away?

Originally posted by Gools
And please, if someone knows all about some Iraqi Dinar scheme being run by the "powers that be" well, what are you waiting for? Do some research and post a thread!

.

Sorry I took the thread off topic Gools but when I said made by America for America I wasn't implying a scheme but who knows, it very well could be.

I did research the dinar when it was first introduced but have doubts it will remain the currency of Iraq after 2010 at which time GCC countries should have a unified on par gold currency.

I read and heard that the Federal reserve has another currency ready to go in case of the current dollar losing its value.

Originally posted by trIckz_R_fO_kIdz
I read and heard that the Federal reserve has another currency ready to go in case of the current dollar losing its value.

That would be interesting. Do you have a link?

So the USD would become toilet paper and new currency would be purchased with gold?

I think tricks is referring to the amero.
.