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Ron Paul Interview on CNBC / Kudlow - 1/30/12

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Ron Paul On The Kudlow Report 01-30-12 ~ Dollar Would Be Linked To Gold At Fixed Rate: 

2 Comments in Response to

Comment by Ed Price
Entered on:

Wow! I see where the current spot price of gold is about $1,728. So, if I divide that price by $42.22, does that mean I could buy a $12,000 car for $293.19? Or does it mean my pay at Target would only be 22 cents per hour? Or both?

I don't get it!
 

Comment by Gene Kernan
Entered on:

You're all familiar with CAFRs.  Well, according to the http://fms.treas.gov/fr/09frusg.html">Financial Report of the United States Government, in the Notes to the Financial Statements for the Years Ended September 30, 2009, and 2008, at page 63, "Gold is valued at the statutory price of $42.2222 per fine troy ounce."

That's what the dollar/gold "link" should be.

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