/biz/ - Business & Finance

>>21496745
>So what would happen to the global prices of gold if America delegalized private ownership of metals and tried to implement some kind of metal standard?

I don’t think they’ll delegalize ownership as the risk to doing so would outweigh the risk of them not doing it. This ain’t the 30’s and burgers who own PMs also own guns. Just not worth it imho.

Maybe a better question to ask is “how much gold/silver/(?) does the US own”? Depending on the answer the US may be able to back the “new” dollar with enough to maintain the public’s confidence. Rickards makes the accurate point that the KEY is what does one peg a new unit of currency to the underlying base(es). Again don’t know what the answer here is but the CBs/larps/Buffets hoovering up gold suggest those who have more of it will be better of than those who have less of it.

>Would other countries try to do the same as quickly as possible? What about the poorfag countries with no gold reserves?

Don’t know. Canada pissed away their gold. Think Brown sold off the UKs gold at the bottom too. Countries without reserves will not be able to import as easily as those that do have reserves, so there’s that. Also suspect too if the USD dies it’ll take the USD debt ledger with it. Silver lining there for borrowers...especially if they borrowed to buy real assets. Point is it’ll be painful but the pain opens the door to opportunity and a fresh start...even for poor countries. Hell...even for the fucking leafs.

>I'm asking you cause you seem to know what you're talking about.

I do not. I know there’s a fuckton I know NOTHING about and try to keep an open mind.

>I have 10 ounces, I live in the UK but that's not my country of birth. Technically speaking I could fuck off with my gold if I wanted to.

10oz is still more than fuck knows how much the population in general has. Well done, anon. Well done.