Originally Posted by irfubar
Originally Posted by mtnsnake
Under the gold standard all gold is owned by the government and worth about $800 an ounce.


If we were to return to the gold standard you would have to take our total wealth and divide it into the gold supply and revalue accordingly. Gold would be well north of $10k ounce

More accurately, some figure north of $10,000.00 in notes would be redeemable for an ounce of gold.