"I have a Question" by One Who Does Not Know - 2.9.17

Entry Submitted by One Who Does Not Know at 2:41 PM EST on February 9, 2017

Hi Guys, been on this website for about 3 years.

Mainly for backing up the information I receive and trying to correlate.

Sometimes it works out and sometimes not.

However, I have a question:

I have been invested in precious metals for sometime. And the idea that all fiat currencies will now be backed by gold I find a little difficult to swallow but if based on a countries "in ground" assets I guess that could work. Though I can tell you with a certain amount of certainty that all the gold that has ever been "mined" would not be enough to cover the M1,M2 or M3 money supply here in the US. But again it depends on how they do it. Which leads me to my question:

My question is what will happen to the price of gold and silver once the RV goes down?

If US currency, which is currently the number one reserve currency in the world, by the way that could change eventually; was to be backed with gold without the RV you could see the price of gold go up 10k to 15k a ounce more or less.

So with the RV are the Chinese Elders dumping massive quantities of gold and silver on the market, have no idea where it would come from really, in order to cover the currency for the RV to back it up to a gold standard, which in fact would lower the price per ounce on precious metals significantly?

Anyone have a perspective on this?

Your response is most appreciated.

One Who Does Not Know