KAT Exploration Inc (KATX)

[art35]

This is your post---I am going to add alittle to the end of your post

Here's the problem with the theory:

"Assuming a gold price of US$1,000 per ounce, or $32,500 per kilogram, the total value of all the gold ever mined would be around $4.5 trillion. This is less than the value of circulating money in the U.S. alone"

http://en.wikipedia.org/wiki/Gold_standard


Many other countries either use or currency, or have their currencies pegged to the USD.

Like I said earlier,"If the US tried to return to the gold standard or pegged system, we would find that we are far poorer than we could ever imagine." It would lead to extreme inflation because the paper dollar would be worth a fraction of what it is today.

MY ADDITION

When we were on the Gold Standard, it meant that you could convert or exchange your Dollars for Gold at the rate of $33 per oz....

We had a lot of Gold, but when Keynesian Economics began to dictate our economic policies, it became obvious that some countries would soon be able to present their Dollars aquired in trade for our Gold supplies----and soon we would have NO GOLD in Fort Knox-----

Either change the value of Gold to $100, or $1000 an oz or get off the Gold standard----We chose to get off the gold standard and back our money with the value of our commerce, or good faith,, or with Two Mules and Sister Sara---and keep our gold supplies-----

art