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SirJames
Membre depuis mai 2012
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A laissé un commentaire sur l'article :
>In a Gold Standard, How Are Interest Rates Set?  - Keith Weiner - 
Keith,

There are several "gold standards" or optional standards - permutation and combinations. It is difficult to discuss interest rates, or almost anything else until the powerz decide on a gold stand (likely over their dead and bleeding bodies). I generalize, but when many in the gold community speak of a standard that reverts to the former one, which was problematical.

I think it is something that needs more analysis and discussion to build consensus amongst ourselves before we venture forth to try to convince hard core fiat fans just what we mean when we use the term. There have been discussion and from them, some options have emerged, but I think it fair to say we aren't close to a consensus ourselves.

It is perhaps something that could be the focus of one of the large gold conventions. Nothing would make the fiat fans happier than a reversion to the old system (even with revaluation). It is unlikely to work and will allow them to label us as idiots. Some serious work needs to be done in clarifying what we mean by gold standard and being very sure it would work. We will only get one chance if that.

Jim


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Début de l'article :Today, short-term interest rates are set by the diktats of the central bank. And long-term interest rates are set in a “market” in which the central bank is obliged to keep coming back to buy ever more bonds, and speculators front-run the central banks to buy ahead of them. The result has been that, for 30 years and counting, the bond price has been rising, which is the same as to say that the rate of interest has been spiraling into the black hole of zero... Lire la suite
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