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'What are the gold theories?' Gold Theories

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What are the gold theories?

This forum post is dated 02/03/11. If you feel it is old or outdated, please follow up with a question or comment and someone may be able to update it, or reply with newer information if you have it.

- Gold Theories

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Jackson

What are the gold theories?

Over the years I have heard plenty about gold theories. To begin with, we had the "gold standard" once. Supposedly for every dollar in circulation there was a gold dollar in Levenworth, I think that´s where the gold is kept.

But that standard ended a long time ago, meaning that there are plenty of dollars circulation without any backing. Just hanging in the air, actually, not worth a penny.

Actually, they are worth only what our confidence gives them. No confidence, no dollar.

We can go out and spend that dollar and that´s about all. In times of crisis that confidence may boil down to zero!

And if we put the plastic currency (credit cards) into the pot also!

Who can explain?

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