The Onion: US To Trade Gold Reserves For Cash Through Cash4Gold.com
June 22, 2009
By Ken Worsley
This piece from The Onion is satire - at least for now - but it’s well done as usual. It’s subtle that the writers valued US gold holdings at $200 billion.
US To Trade Gold Reserves For Cash Through Cash4Gold.com
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thats a real interesting video..c
Ok, so I know it’s a joke, but I can’t help being nerdy…
Wouldn’t that work to contract the money supply? Paying for the stimulus by selling gold and using the cash would take liquid cash from elsewhere in the economy… granted it would put it back into the economy, but the alternative is, of course, to issue T-bonds or to print more money. Both of those status-quo options seriously inflate the money supply while contributing to economic activity.