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To: AZLiberty

Okay, forget about Gilder.

The real gold standard ended as a result of WWI.

The Great Depression was a direct result of the central banks attempting to return to the gold standard as it existed in 1914, resulting in a ferocious deflation.

What Nixon did was stop the redemption of US Dollars (USD) for gold at $35 per ounce, which was untenable. Gold was long gone as the “Standard” ... USD was the de facto standard since the Bretton Woods Agreement of 1944.

The “Shafting of the American Worker” was due to the STRONG VALUE of the US Dollar compared with other currencies, not its weakening. Dollars were backed up by a lot of things, including the fact you had to have US Dollars to purchase OPEC oil. Sheesh!

NAFTA and the WTO were put in place by the collusion of the GHWB and Clinton administrations, who we now understand were two sides of the same coin. These horrible trade deals enabled globalist bankers to facilitate the export of American factories and jobs to nations with much weaker currencies.

Don’t get me wrong. Gold can be a very fine investment. I have had a lot of luck with it in my investment life, both mining companies and metal. But there will be no return to a “Gold standard,” nor should there be.


1,179 posted on 04/19/2020 10:10:21 PM PDT by Disestablishmentarian ("the right of the people peaceably to assemble")
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To: Disestablishmentarian
But there will be no return to a “Gold standard,” nor should there be.

Perhaps you missed Q Post #3393: Trump Fed Pick Wants to Revive the Gold Standard. While returning to gold is out of the mainstream, it's not necessarily out of the Trump stream.

1,187 posted on 04/19/2020 10:42:49 PM PDT by AZLiberty (4/12: The Resurrection will be echoed by the resurrection of the Constitutional Republic of the USA.)
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