Is it possible, or even feasible, to go back on the gold standard? Jack Kemp, RIP, was in favor of this for years.
One world currency, here we come.
Yes I believe so we can END THE FED!
Is it possible, or even feasible, to go back on the gold standard? Jack Kemp, RIP, was in favor of this for years.
I think it was Secretary (unfortunately of HUD, not Treasury) Kemp's theory that the government could put itself on the gold standard by the mere, ironical, act of selling its gold holdings. That would destroy the illusion that there was anything behind the dollar but the credit of the US - and thereby put the dollar on tenuous grounds which precluded irresponsible deficits.He could not foresee, of course, the election of a POTUS who would seek to destroy the dollar as a matter of policy.
Sure we could go back on the gold standard. Why not? There are those who say there is too much currency and not enough gold. That just means that gold would become very expensive.
Going back to the gold standard...?
Hmmm....your bank account would really take a hard hit. Lot’s of folks would find out the real value of their now fiat money.