Quote:
Originally Posted by drcampbell
Please provide a citation. It would be interesting to know how that author arrived at the conclusion that gold is the sole asset "backing" paper dollars. It would also be interesting to see the data for paper money in circulation vs. gold on reserve.
|
I dont think the article said anything about gold "backing" paper dollars. It stated that it was the publics desire to purchase gold as a hedge that drove the price up and the final price for the gold was high enough that we could have been put back on the gold standard.
