Mark Cuban from Blog Maverick believes the country should sell its gold reserves in order to pay down national debt. This plan assumes that the amount of held gold reported actually exists in storage. It’s a safe assumption unless you’re a conspiracy theorist. Fort Knox would be an expensive operation if it was protecting nothing.
If money is basically created on thin air now that is not based on or backed by any standard, why bother paying the debt off at all? Who will come collecting for payment on the national debt?
Updated December 21, 2011 and originally published June 6, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @flexo on Twitter and visit our Facebook page for more updates.
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Luke Landes founded Consumerism Commentary in 2003 and has been building online communities since 1990. Luke, also known as Flexo, has contributed to PC World Magazine, US News, Forbes, and other publications. 
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Agreed. If money is made out of pure confidence… keep the gold.
If the debt gets to the point where people loose confidence on the US, print more money (worthless) to pay the debt, and use the gold to save the nation :)