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<blockquote data-quote="hurleyjd" data-source="post: 1645367" data-attributes="member: 4674"><p>It appears that there are about 179 thousand tons of gold in the world. If each country had gold backing their currency would the be enough gold available to back the currency. Also in the early times and the gold rush days in America the government was the only reliable buyer of gold. A miner sold his gold to the government and got paper money sometimes. What if the government had not been buying. Also how much of the gold in the world is still owned and storied by governments. If I buy gold to own which I do not, do each of you that owns gold do you have the gold at home or in your safe deposit box. If you have a piece of paper that says you own X amount of gold how do you know that there is any gold there if you demanded the gold.</p><p>I can walk or drive over the land I own as an asset and can do that as long as I pay the rent to the local and state government this is called property tax. My land may be worth $5000 per acre and if it goes to $7500 per acre or the neighbor sells his for $10000 per acre then I will be forced to pay a higher rent on my land rate set by the appraisal board. I know this post is a lot of rambling on my part but I think something to think about.</p></blockquote><p></p>
[QUOTE="hurleyjd, post: 1645367, member: 4674"] It appears that there are about 179 thousand tons of gold in the world. If each country had gold backing their currency would the be enough gold available to back the currency. Also in the early times and the gold rush days in America the government was the only reliable buyer of gold. A miner sold his gold to the government and got paper money sometimes. What if the government had not been buying. Also how much of the gold in the world is still owned and storied by governments. If I buy gold to own which I do not, do each of you that owns gold do you have the gold at home or in your safe deposit box. If you have a piece of paper that says you own X amount of gold how do you know that there is any gold there if you demanded the gold. I can walk or drive over the land I own as an asset and can do that as long as I pay the rent to the local and state government this is called property tax. My land may be worth $5000 per acre and if it goes to $7500 per acre or the neighbor sells his for $10000 per acre then I will be forced to pay a higher rent on my land rate set by the appraisal board. I know this post is a lot of rambling on my part but I think something to think about. [/QUOTE]
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