Exactly my point Cameron ;-) Before Nixon 1oz gold == $35US or inversely $1 == 1/35oz gold...seems pretty standard to me.
Also your own quote states "The government held the $35 per ounce price until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, *thus completely abandoning the gold standard*." After Nixon Gold and the dollar float. Gold is now traded as a commodity as it should. Otherwise the world economy is tied to a very finite amount (183,600 tonnes) of a shiny rock whose real value is it's chemical element properties. It is the best (naturally occurring) conductor of electricity and the best reflector of infrared heat (amongst many other properties). 1/256,280oz gold (2 cents at todays prices ;) -Sean On Tue, May 17, 2016 at 1:49 PM, Cameron Crum <[email protected]> wrote: > Not sure what history books you are reading, but On June 5, 1933, the > United States went off the gold standard, a monetary system in which > currency is backed by gold, when Congress enacted a joint resolution > nullifying the right of creditors to demand payment in gold. The United > States had been on a gold standard since 1879, except for an embargo on > gold exports during World War I, but bank failures during the Great > Depression of the 1930s frightened the public into hoarding gold, making > the policy untenable. > > The government held the $35 per ounce price until August 15, 1971, when > President Richard Nixon announced that the United States would no longer > convert dollars to gold at a fixed value, thus completely abandoning the > gold standard. In 1974, President Gerald Ford signed legislation that > permitted Americans again to own gold bullion. > > On Tue, May 17, 2016 at 3:45 PM, Sean Heskett <[email protected]> wrote: > >> Actually Nixon got us off the gold standard. And it's a good thing >> because with an $18trillion GDP for just the US alone there is no way >> our current economy would operate being tied to a shiny rock. That phone >> in your pocket would cost $1million or more just from the gold inside of it >> :-/ >> >> Leave the shiny rocks to the hippies at EDM festivals lol. >> >> -Sean >> >> >> On Tuesday, May 17, 2016, Josh Luthman <[email protected]> >> wrote: >> >>> You think that's bad? The USD isn't backed by gold but rather a >>> fictitious system controlled by private banks. Thanks, FDR. >>> >>> >>> Josh Luthman >>> Office: 937-552-2340 >>> Direct: 937-552-2343 >>> 1100 Wayne St >>> Suite 1337 >>> Troy, OH 45373 >>> >>> On Tue, May 17, 2016 at 4:10 PM, Lewis Bergman <[email protected]> >>> wrote: >>> >>>> That is soooo sad >>>> >>>> On Tue, May 17, 2016 at 2:31 PM Josh Luthman < >>>> [email protected]> wrote: >>>> >>>>> Who care about P&L? It's stocks. >>>>> >>>>> AAPL is one of the biggest companies out there. There is no real >>>>> correlation between stocks and how the company operates. >>>>> >>>>> >>>>> Josh Luthman >>>>> Office: 937-552-2340 >>>>> Direct: 937-552-2343 >>>>> 1100 Wayne St >>>>> Suite 1337 >>>>> Troy, OH 45373 >>>>> >>>>> On Tue, May 17, 2016 at 3:19 PM, Lewis Bergman < >>>>> [email protected]> wrote: >>>>> >>>>>> Yep. Which is why they both make me nervous. You can't ever guess >>>>>> where those types will go by looking at balance sheets and P&L. Although >>>>>> to >>>>>> tell the truth, it had been pretty difficult to do that with any stock >>>>>> for >>>>>> a long time. >>>>>> >>>>>> On Tue, May 17, 2016, 1:57 PM Josh Luthman < >>>>>> [email protected]> wrote: >>>>>> >>>>> ...you mean like AAPL? >>>>>>> >>>>>>> >>>>>>> Josh Luthman >>>>>>> Office: 937-552-2340 >>>>>>> Direct: 937-552-2343 >>>>>>> 1100 Wayne St >>>>>>> Suite 1337 >>>>>>> Troy, OH 45373 >>>>>>> >>>>>>> On Tue, May 17, 2016 at 2:56 PM, Lewis Bergman < >>>>>>> [email protected]> wrote: >>>>>>> >>>>>>>> Not that it matters, as I think GPRO is mostly a marketing play at >>>>>>>> this point, I saw some film of some competitors product with a really >>>>>>>> nifty >>>>>>>> 360 camera for about half of a Hero3. >>>>>>>> >>>>>>> On Tue, May 17, 2016 at 1:38 PM Chris Wright <[email protected]> >>>>>>>> wrote: >>>>>>>> >>>>>>> I sure hope it goes back to $15. I bought at $12 last on its uptick >>>>>>>>> and then it plummeted. L >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> Chris Wright >>>>>>>>> >>>>>>>>> Network Administrator >>>>>>>>> >>>>>>>>> Velociter Wireless >>>>>>>>> >>>>>>>>> 209-838-1221 x115 >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> *From:* Af [mailto:[email protected]] *On Behalf Of *CBB - Jay >>>>>>>>> Fuller >>>>>>>>> *Sent:* Tuesday, May 17, 2016 8:22 AM >>>>>>>>> *To:* [email protected] >>>>>>>>> >>>>>>>>> >>>>>>>>> *Subject:* Re: [AFMUG] GPRO stock >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> oh, i know i don't matter... >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> ----- Original Message ----- >>>>>>>>> >>>>>>>>> *From:* Robert >>>>>>>>> >>>>>>>>> *To:* [email protected] >>>>>>>>> >>>>>>>>> *Sent:* Tuesday, May 17, 2016 9:49 AM >>>>>>>>> >>>>>>>>> *Subject:* Re: [AFMUG] GPRO stock >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> Just after Icann sold a billion... just to make sure you know you >>>>>>>>> don't matter... >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> On 5/17/16 7:45 AM, CBB - Jay Fuller wrote: >>>>>>>>> >>>>>>>>> I heard burkshire just bought a billion worth of apple >>>>>>>>> yesterday.... >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> ----- Original Message ----- >>>>>>>>> >>>>>>>>> *From:* Travis Johnson >>>>>>>>> >>>>>>>>> *To:* [email protected] >>>>>>>>> >>>>>>>>> *Sent:* Tuesday, May 17, 2016 9:23 AM >>>>>>>>> >>>>>>>>> *Subject:* [AFMUG] GPRO stock >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> Hey... if anyone is looking for a 4-5 month stock with the >>>>>>>>> possibility >>>>>>>>> of a 50% return, you should take a look at GPRO. It's a great buy >>>>>>>>> right >>>>>>>>> now and I personally think it will hit $14-$15 again within the >>>>>>>>> next six >>>>>>>>> months. :) >>>>>>>>> >>>>>>>>> Travis >>>>>>>>> >>>>>>>>> >>>>>>>>> >>>>>>>>> >>> >
