Yes, the $21 “price” was before FDR made ownership illegal and jacked up the exchange rate to $35, my mistake.
But even then, the $35 exchange rate was artificial as the treasury did not have enough gold to allow full redemption. That $35 rate was not determined by market forces.
@Maximus_4EVR You still don’t understand they have our balls in a vice over the rare minerals and military supply chains?
If we can ever get independent of them (which will take a generation) then we can start giving them the finger.
@DannyDayan5 Shouldn’t be good for stocks either, as per Michael Howell’s thesis that “all money that’s anywhere has to be somewhere.” If it’s in the real economy, it’s not in assets.
Yet the stock market keeps ticking higher. There must be a lot of money floating around.