Just heard this tonight on ABC. U.S. is considering selling its entire 260 million ounces of gold reserves to help close the deficit.$1,000 gold here we come.
No gold reserves to "implicitly" back the dollar is beyond even Weimar style hyperinflation. One would cease to think in terms of dollars.
And Bernanke's gold is mine now!!! Hahahahaha!!1
dude.... "the dollar is in such bad shape we have to sell our gold to support it"and.... Selling the entire gold reserves would only finance ONE QUARTER of deficit spending !!!Emptying fort knox = $10,000 gold.
So what are you going to do when they confiscate yours in order to "reduce" the deficit?