There isn’t enough gold in the world to back the world’s economies. We would have to dig Mars and get lucky.
Five years ago this would have been grounds for zot.
Eight years ago vehement ranting about the illegal immigration problem and calling the President Jorge Bush was grounds for zot.
Funny how people’s opinions change.
You can try something like this during times of calm and stability when people have time to digest and understand. You can’t pull this stuff in the middle of a crisis and expect anything to get better.
Warren Harding figured it out in 1920...
Congress and the Executive Branch have lots to do.
So far they’re not doin’ it right..
Harding cut the government’s budget nearly in half between 1920 and 1922. The rest of Harding’s approach was equally laissez-faire. Tax rates were slashed for all income groups. The national debt was reduced by one-third. The Federal Reserve’s activity, moreover, was hardly noticeable. As one economic historian puts it, “Despite the severity of the contraction, the Fed did not move to use its powers to turn the money supply around and fight the contraction.” 2 By the late summer of 1921, signs of recovery were already visible. The following year, unemployment was back down to 6.7 percent and was only 2.4 percent by 1923.
http://www.firstprinciplesjournal.com/articles.aspx?article=1319&loc=r
BTW..ole Warren ALSO fixed immigration...
Mr. Harding signed into law the Emergency Quota Act[3] which sought to control immigration following World War I and preserve the distinctive American culture by ensuring the majority of immigrants came from the historically compatible cultures of Northern Europe. This law aimed to bring wages of hard working Americans under control by limiting immigration to 3% of the 1910 census. It was followed on by a similar act in 1924, after Mr. Harding’s death.[4]
A Warren Harding prescription...if filled ...would ignite the afterburners on the US job machine and the economy. However DC would have to yield on a tremendous amount of power. Our job as We the People...is to persuade them of the “utility” ..shall we say..of doing so. In all probability the same minds that made the mess...aren’t capable of the solution however.
BTW any takers that ‘Bammy couldn’t even tell you that Warren Harding was one of his predecessors in office?
Even more telling about what our betters in the RinoCracy think of a Constitutional President..
http://www.usnews.com/listings/worst-presidents/warren-harding
About as likely as me walking to the moon tonight and getting back before dawn.
That will do absolutely nothing to curb devaluation of the dollar; the government will simply keep lowering the ounce per dollar valuation.
Gold as money can have horrific inflation, as was the case during the spanish empire.
Juan De Mariana documented spanish inflation in his writings in the early 1600’s.
The crown was coining money like it was going out of style and cheapening the alloy.
Backing the dollar with gold will succeed in making the price of gold skyrocket, though.
“Both parties profess to be fixated on job creation. Where are they?”
There are millions of jobs being created. The world job market has boomed in the past 5, 10 years.
The new jobs are in Communist China, Asia, etc.
Who remembers the following?
Santo Gold Infomercial (intro)
http://www.youtube.com/watch?v=pa51xwO4Toc
;-)