Posted on 03/30/2009 12:58:42 PM PDT by mnehring
Russia has become the first major country to call for a partial restoration of the Gold Standard to uphold discipline in the world financial system.
Arkady Dvorkevich, the Kremlin's chief economic adviser, said Russia would favour the inclusion of gold bullion in the basket-weighting of a new world currency based on Special Drawing Rights issued by the International Monetary Fund.
Chinese and Russian leaders both plan to open debate on an SDR-based reserve currency as an alternative to the US dollar at the G20 summit in London this week, although the world may not yet be ready for such a radical proposal.
(Excerpt) Read more at telegraph.co.uk ...
“Are you saying that we can have inflation or deflation under the gold standard? “
No, I’m saying that the real standard of living of the middle class goes up under a gold standard. Only the real standard of living (and number) of banksters should go down.
“That’s just what our economy needs, more resources diverted to mining a pretty yellow metal.....because it’s MONEY!”
You’re right, more resources should be diverted to banking and toxic waste financial products, because production and manufacturing are such a waste of time. Why drill for oil, we’re only going to BURN it?!!
Not if their employers go out of business.
Only the real standard of living (and number) of banksters should go down.
Why would that happen?
Why drill for oil, we’re only going to BURN it?!!
Oil is useful. What is gold good for?
“Not if their employers go out of business.”
And why would businesses fail because we had a solid Constitutional monetary system?
“Why would that happen?”
Because creation of money would be taken out of their hands.
Maybe you could first explain why "the real standard of living of the middle class goes up under a gold standard"?
Because creation of money would be taken out of their hands.
Why were the bankers against the monetization of silver while the farmers and small business owners were for it?
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