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I don't think it's very true.
Firstly, while I don't have the numbers right off my head, I believe that the ratio of dollars compared to gold now was much smaller then than it is now. At $1000/ounce, the current amount of gold out there is around $3 trillion now. There are over $10 trillion dollars in circulation, plus perhaps $10 trillion Euros, $6 trillion Chinese yuan and so on.
Secondly, gold was also more critical back then due to the gold standard. A flight of gold from the US could cause deflation and so on. Controlling the supply of gold was a much more important issue to the Uncle Sam back then.
Thirdly, even though Uncle Sam "grabbed" gold in 1935 or whatever, it actually paid people for their gold. It's not like pure looting.
Fourthly, and finally, suppose there are 20,000 tons of gold owned by American households now.(near 20% of total world amount of gold) Suppose that Uncle Sam grabs them. That's worth about $650 billion. Uncle Sam has already spent trillions on bank bailouts and guarantees, do you think it'll care about paying for $650 billion of gold?
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