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Old 05-31-2011, 12:55 PM   #262
broncocalijohn
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Quote:
Originally Posted by baja View Post
why
If we have billions and billions of dollars invested in a precious metal that is not in the vaults, then all we have is the paper or stock ID that is not worth the value of the paper. It is pretend. Our currency is backed by the US treasury. Gold is no longer being used (as you already know) so what is to back the gold that does not exsist? Every country that has invested in our country by either the stock market or gov. loans. Sure countries that have bought actual gold and not a piece of paper will be somewhat fine but you only have to look at the bloated housing market that has ruined the economy that not only here but throughout the world.
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