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Fed To Prompt Currency Crash and Return to Gold Standard

- Mark O'Byrne - gold.ie

There will always be booms and busts, gold standard or not. That's not the issue. In "the sweep of time," a currency backed by gold tends to retain its purchasing power, while a currency on the PhD standard has done exactly one thing in all historical examples: loose all of its purchasing power (eventually, over the sweep of time). And the PhD's have avoided busts? Please......Nasdaq 2000; Mortgage feces 2007-8 (oh, we're still in that one, five years running now......seems more like a depression than the so-called "great recession")......nice work, PhD's.

Commented 4073 days ago

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Beginning of the headline :Jim Grant, astute monetary economist and respected author of the Interest Rate Observer said in a Bloomberg interview overnight that the dollar would crash and a new Gold Standard would be the end result of the U.S. Federal Reserve’s irresponsibilities. Although the interviewer said that Grant’s remarks were inflammatory Grant said that it is important to examine our monetary affairs over the sweep of time... Read More

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