Could the Fed govt. return to regulating the price of gold? It is a world wide commodity now, correct? Traded on a world market?

Mike, you may not remember..............or are too young to remember..........but in the "old days" prior to 1971, miners in Alaska smuggled their gold into Canada for sale because the price in Canada was the world market price.

But........to address your question.............the coinage clause of the Constitution gives congress the authority to "regulate the value thereof". But the real answer in YES congress can set the value of the gold owned by the US Treasury and the gold certificates held by the Federal Reserve.

That gold is today carried on the Treasury books at a value of $42.2222 per ounce. The world price is about 42 times that amount.

Congress could change that valuation any time they choose

I love gold.

I suppose they could ban the ownership of gold again.

Gold? Analog Bitcoin? How much y'all love physical gold? I have over an ounce (1.12) of Swiss 20 Francs (6 X .1876) I'd sell to anyone for Spot -5% paid via Bitcoin only. Looks like thet sell on APMEX for at least +5% over spot. I'd meet in person anywhere in WI.

They could I suppose and just like my guns my answer will be come and take it.

On a secondary note they only banned the ownership of bullion. Numismatic coins, jewelry, and other things like industrial uses were fine. Melt it down and make a necklace. If silver is your thing buy sterling silver sets

Don’t think it could be done now except in Venezuela.

I think the best they could do is starting minting a gold coin with a face value to it. To actually regulate the price of gold, they'd have to get the world to agree to it. China and Russia have been hoarding gold the last few years so good luck on that unless China becomes our new overlords.

They could I suppose and just like my guns my answer will be come and take it.


Dont say that too loud or big Joe will turn you into a grease spot in the charred ruins of your house.

So if they carry it at $42 an ounce,and spot is around $1760,what would happen if they sold all 261,000,000 ounces they have? Value would drop to nothing. That's on around a half trillion at 1760,and 11 billion at 42$.

If the feds have that much gold.....maybe it is not all there?

Do you think they actually still have a quarter million ounces?

Germany had a heck of a time getting its gold from the US. Been speculation over the years that Fort Knox is empty.

not a quarter million,,,,,261 million,according to google,that's how much the US treasury holds

I would like to be in front of the line to buy at that price.

Really, are you going to split hairs on me?

In don't believe they have that much physical on hand. Maybe a piece of paper saying they leased it.

Not trying to split hairs. That's what they claim to have,we owe something around 28 trillion dollars,and supposedly have less than half a trillion at 1760$ an ounce in reserve. My point is,if they sold it all,it wouldn't be worth doodley-squat. If the crap hits the fan,no amount of gold would buy my canned food and my other stock.

Maybe not yours, but someone else would trade.

There always has to be a means of exchange.

https://www.usmint.gov/about/mint-tours-facilities/fort-knox

There's supposed to be gold stored at Fort Knox still.

My youngest cousin just got stationed at Fort Knox last week. He doesn't do anything with the gold. He's in transportation logistics. I'll have to ask him if he got to see the gold.

Keith