Wow, sometimes these guys actually get something right. The gold standard would be so good for a stable strong dollar.
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.
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!
A return to the gold standard now would crash the economy into a depression of unparalleled severity.
Except the gold is long gone
Then there'd have to be an inventory of Fort Knox, and an explanation rendered of where it all went.
Wow, sometimes these guys actually get something right. The gold standard would be so good for a stable strong dollar.
...
Day in and day out, the dollar is backed by our goods and services. There isn’t anything magical about gold either. 1920’s Germany restored confidence in their currency by backing it with real estate.
The real problem we have with the dollar is crooked politicians.
You do realize that most of the elites, not to mention our enemies, like China, are sitting on a boatload of gold.
The rest of us are going to be at the bottom of the barrel.
And just exactly, how much gold IS in Fort Knox?
Anybody do a survey lately? Did they drill down into it to make sure it was solid? No zinc core?