Posted on 06/27/2016 1:50:10 PM PDT by Rusty0604
Wow, sometimes these guys actually get something right. The gold standard would be so good for a stable strong dollar.
“According to Greenspan, David Cameron miscalculated and made a “terrible mistake” in holding a referendum. That decision led to a “terrible outcome in all respects,”
Translations, those rubes in the streets need us to tell them what is right. BTW, what is this guys background beyond being a second rate jazz musician.
Pegging currency to tangible assets that actually have intrinsic value and demand, always beats fiat money backed up with intangible “faith and trust” in the fiat money system itself.
Just use your truck. How far could you launch him if you hit him with your truck?
Mind you, I'd based the US dollar on the following metals: gold, silver, platinum, palladium, copper and nickel, the metals used either as precious metal reference standards or used in the manufacture of coins.
BUT, the social planners in the Fed.gov would say of course that the gold standard would “tie their hands” in financial affairs, just like they now maintain that our Constitution is outmoded and ties the hands of “Progressive” government!
Wonder how much gold we could have mined already if the unconstitutional executive departments didn’t forbid it via their unconstitutional laws-by-fiat.
Who are you talking about being a jazz musician, Cameron or Greenspan?
A return to the gold standard now would crash the economy into a depression of unparalleled severity.
He used to have a good sense about monetary policy. He was friends with Ann Rand too. He seems to have gone against his principles when he became Chairman of the Federal Reserve.
Well, we could move to a money based on a basket of basic commodities, including Au, but stepping well beyond that.
In the 80s i learned to drive stick on a mazda 626.
Gold is money. The value of gold is valued in relation to other currencies.
Can anyone answer this question. If the economy takes the big one and we fall into an instant depression and banks close, what happens to mortgages? If banks are closed how does one do business such as paying bills owed?
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