Comment: I say "bullpoop."

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I say "bullpoop."

For U.S. citizens, gold had NO price in 1971. From Roosevelt's gold grab in 1933 up to Aug. 1974, it was not legal for private U.S. citizens to own gold bullion at all. Nixon allowed the dollar to "float" against gold in 1971 for international trade, but gold ownership remained verboten until late 1974. Source here.

So what "price" is the video assigning to gold in 1971? The "official" rate of $32/ounce, at which gold was NOT actually being sold? I bought my first gold coin in 1974, and it cost around $220. At THAT price it would only take 113 oz. gold to buy a $25,000 house.

Recommended reading: The Most Dangerous Superstition by Larken Rose