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42 sats \ 1 reply \ @spiderman 8h \ parent \ on: Germany and Italy pressed to bring $245bn of gold home from US econ
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
  1. Default
  2. Devaluation
  3. Default by devaluation but it will never sell the gold to cover any part of the cost.
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0 sats \ 0 replies \ @Undisciplined 8h
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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