Monday, July 8, 2013

Gold Worth $40,000 Per Ounce?


Some believe that the paper money printed by a government should be backed by real money. At a time, one could exchange one’s paper money for real money, whether gold or silver. Then, the United States government ceased exchanging paper money for gold and silver and instead issued gold certificates and silver certificates. In essence, although you can’t get gold or silver for your paper money, you can sleep well knowing that your paper money is backed by gold and silver that the United States government is holding. Then that stopped.