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76 sats \ 12 replies \ @Undisciplined 9h \ on: Germany and Italy pressed to bring $245bn of gold home from US econ
The last time a nation tried this, France lost it's gold and America ditched its gold standard. Obviously, France had long since lost its gold and America was not at all operating on a gold standard.
Like then, I'll wager that this is a political stunt to prove that America doesn't have the gold, which would damage the dollar and boost the Euro.
I don't think presence or absence of the Gold has any impact on the dollar anymore. America will run deficit as long as it can, then it will choose one of
- Default
- Devaluation
- Default by devaluation but it will never sell the gold to cover any part of the cost.
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It's probably small, but there would be some trust lost in America's ability to maintain the dollar if it becomes known that there's less gold in reserve than claimed.
Otherwise, I totally agree.
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Trump is going to Fort Knox this time!
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Is he?
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Maybe it's better not to know.
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It seems like there are more pressing issues.
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Pressure only really comes into play if there's no gold to ship off to Germany and Italy, innit? What else could even be causing press?
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It's quite strange that they store their gold out of country. These aren't exactly small poor countries.
utopia
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Not your vault, not your metal!
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