"One US dollar is equal to 0.00031 troy ounces"
And nobody cares. Gold is highly manipulative because it's scarce. Why would we want to link our currency to something like that?
China is one of the largest gold producers today. Do you want China to have more say over our currency growth than we do? Then by all means go for the gold standard.
posted on 03/04/2011 7:55:28 AM PST
And nobody cares. Gold is highly manipulative because it's scarce.
I disagree. Perhaps, you do not care, however, many people do care. See the URL below. Printing more paper money which devalues it, is manipulative. Having no standard is manipulative. China already holds most of the US debt and they already have a say and that is manipulative. A undefined consumer "basket" that has no proportion or size or set contents is manipulative.
Utah is already considering returning to the gold standard, as discussed in the Fox News article posted on Free Republic. Other states in the US may be considering following suit. Consumers want the FED to be accountable and that includes being accountable in its monetary policy standards which would include defining and measuring the US dollar.
posted on 03/04/2011 10:32:42 AM PST
(Rule#1.The LEFT lies.Rule#2.See Rule#1. IF THE LEFT CONTROLS THE LANGUAGE, IT CONTROLS THE ARGUMENT.)
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