47 sats \ 3 replies \ @Undisciplined 13 Sep \ parent \ on: Federal Reserve: End Of QT On The Horizon? What About Gold? econ
I had read it a long time ago and forgotten about it. Then the Mises guys were talking about it in a discussion about why the gold holdings are essentially useless for paying down the debt, because it can only be redeemed at that price.
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34 sats \ 2 replies \ @TomK OP 13 Sep
And what if they change the law? Law is just a funny paper nowadays
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47 sats \ 1 reply \ @Undisciplined 13 Sep
I don't know how easy or difficult that would be. The issue is that they have gold-backed certificates that are redeemable for a specific dollar value, rather than a specific quantity of gold.
They might have to essentially seize the gold from whoever owns it, which they could obviously do.
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35 sats \ 0 replies \ @TomK OP 13 Sep
Ah, OK. So that's the way to do it. I don't see any problems.
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