Gold reserve

  The gold reserve in the united states is irrelevant. Either it does not exist, or it does exist but he does not care to show it to you. Either way it is the same as being non-existent.

  Even after Roosevelt confiscated gold from americans, the gold standard was still left somewhat intact. It was illegal for americans to own gold until gerald ford. But the us dollar was still backed by gold if you were non-american. All americans must obey the dollar, its law of the land as executed by Roosevelt's Executive Order 6102. But that executive order is groundless to a non-american who doesnt trade in us dollars. Roosevelt can pounce down your door and take your gold so long as you are american. But Roosevelt cant do that to the Soviet Union or China or any other foreign country. So an incentive must be created to give the dollar credibility outside the united states. And the federal government promised all foreigners one ounce of gold for every 35 dollars they carried. Trade deficits could thus be funded by exporting dollar bills since in theory, the dollar bills could be exchanged back to the united states for gold at 35 dollars per ounce.

  The us dollar was attacked in 1971. European investors and European Central Banks sought to exchange the dollar bills they had accumulated from the us in exchange for american gold reserves. After a few shipments of gold, the us finally threw its hands up in the air and said: no more gold.

In 1971, the U.S. government again printed more dollars (a 10% increase)^[1] and then sent them overseas, to pay for the nation's military spending and private investments. In the first six months of 1971, $22 billion dollars in assets left the U.S.^{[citation needed]} In May 1971, inflation-wary West Germany was the first member country to leave the Bretton Woods system — unwilling to deflate the Deutsche Mark to prop up the dollar.^[1] In order to prevent the dumping of the Deutsche Mark on the open market, West Germany did not consult with the international monetary community before making the change. In the next three months, West Germany’s move strengthened their economy; simultaneously, the dollar dropped 7.5% against the Deutsche Mark.^[1]
Because of the excess printed dollars, and the negative U.S. trade balance, other nations began demanding fulfillment of America’s “promise to pay” - that is, the redemption of their dollars for gold. Switzerland^[1] France, in particular, repeatedly made aggressive demands, and acquired $191 million in gold, further depleting the gold reserves of the U.S.^[1] On 5 August 1971, Congress released a report recommending devaluation of the dollar, in an effort to redeemed $50 million of paper for gold in July.protect the dollar against foreign price-gougers.^[1] Still, on 9 August 1971, as the dollar dropped in value against European currencies, Switzerland withdrew the Swiss franc from the Bretton Woods system.^[1]

August 15, 1971, President Nixon imposed a 90-day wage and price freeze, a 10 percent import surcharge, and, most importantly, “closed the gold window”, ending convertibility between US dollars and gold

  The government is not willing to trade its supposed gold reserves in exchange for your dollar bills at 35 dollar bills an ounce. So there is no stability in the value of the dollar. One day a single dollar can purchase .8 grams worth of gold. And the next day, 1 dollar can only purchase .00007 grams of gold. So what difference does it make if that gold reserve exists or not.