Why is Gold $20 per ounce?

[clb09]

YouTube - The Treasure of the Sierra Madre (http://www.youtube.com/watch?v=EQyqvFVe4Y4)

[ILUVRP]

Until about 1931 gold was pegged at $20/oz, hence 20$ gold piece. Silver was $1/oz, 20:1 ratio.

In the early 30's POTUS Roosevelt called in all the gold ( ? ), changed the price to about $33/oz. The US would give 1oz gold to countries for $33.

In 1971 Nixon stopped the $33/oz peg, would not sell gold for $33/oz ( did away with Bretton-Woods agreement ), let gold float.

[SLSteven]

Looks like a good movie...

[clb09]

Until about 1931 gold was pegged at $20/oz, hence 20$ gold piece. Silver was $1/oz, 20:1 ratio.

In the early 30's POTUS Roosevelt called in all the gold ( ? ), changed the price to about $33/oz. The US would give 1oz gold to countries for $33.

In 1971 Nixon stopped the $33/oz peg, would not sell gold for $33/oz ( did away with Bretton-Woods agreement ), let gold float.

Actually, the clip is the most famous gold-related speech in film history.

[jclay2]

Actually, the clip is the most famous gold-related speech in film history.

There isn't enough gold in the world to satisfy my demands.:D

[Jace]

YouTube - Stinking Badges (http://www.youtube.com/watch?v=HaxURLFn6jU&feature=related)

Great flick!

[Old Ducker]

Nobody messes with Fred C. Boggs!