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What is the value of this? Clearly the US won't sell me gold for $42/oz or the arbitragers would own the country, and nobody will sell the US gold for that amou
by aftbit 11d ago
What is the value of this? Clearly the US won't sell me gold for $42/oz or the arbitragers would own the country, and nobody will sell the US gold for that amount ... so what does the $42/oz "peg" actually mean?
- wl 11d agoIf you're familiar with par value, it's the same thing. It's a measure to account for changes in asset holdings over time while neglecting changes in market value of that asset. They could have just used ounces to do the same thing here. It made more sense when there was a dollar peg.