I don't know how much actual gold the US holds right now but it could never be enough to match the dollars in circulation at the present time. The 1971 standard was 1 /35 th of a troy ounce per dollar which was probably a fairy tale for several years or decades before it was finally admitted to. Inflation was both a cause and effect of the mind boggling amout of money that has been printed since 1971, the money supply was first increased to pay for the Vietnam war and offset rising oil prices (sound Familar). later, more money was needed to fund business expansion that was made more expensive by the first round of inflationary printing and so on. The USA needs a strong domestic energy policy that provides tax breaks for continued exploration and development domestically and overseas, for US companies, to keeps rigs and men working and energy reasonbly cheap. No administration or Congress has ever gotten this done. Most people turn purple when told that Exxon needs a tax break, but better an American company using that money to do more business inside the USA and employ more people than to continue enriching Middle eastern dynasties.
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Today's Featured Article - Show Coverage: Godfrey, Illinois Country Days - by Cindy Ladage. Except for last fourth of July's Old Gold show in Springfield, Illinois, I don't remember when it was so hot. Nevertheless, the heat didn't keep vendors and visitors alike from enjoying the third annual Country Day's Event. Jane Elliott said the event was originally a one man show. "Barry Seiler, owner of Country Town Farm Supply store used to invite people up to the Johne Deere store. He would give hats and a free meal for everyone that brings a tractor." Elliott said while this
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