Comment by downrightmike
3 days ago
"For context, these increases have even outpaced the surge in gold prices over the same period"
And you can't just manufacture or not the gold supply into scarcity
3 days ago
"For context, these increases have even outpaced the surge in gold prices over the same period"
And you can't just manufacture or not the gold supply into scarcity
yes you can. It's called mining
actually the problem was population boom. FDR raised the rate from $20 to $35/ounce, and by timeNixon took the USA off standard the global population 3x. So gold is no longer scarce because it isn't backing real currency anymore. Its just metal