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Keyword: goldstandard

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    12/29/2016 10:49:07 AM PST · by Tours · 17 replies
    Avery Goodman Blog ^ | 12/17/2016 | Avery Goodman
    Vice President-elect Michael Pence is currently the most powerful single political influence on President-elect Trump. Among other things, he is in charge of the transition team. He will also be in charge, after the inauguration, with dealing with Congress. For leftists, hostile to gold, that is a problem. However, for those of us who believe that the only way to solve our long-term economic problems is by a return to honest money, it is a godsend. The editor of the New York Sun realized this quite a while ago. He wrote, back in July, about the wise choice of then-Governor...
  • Donald Trump, The Gold Standard, Maynard Keynes, And Our Madmen In Authority

    06/06/2016 4:56:40 AM PDT · by expat_panama · 41 replies
    Forbes ^ | Jun 5, 2016 | Ralph Benko
    Today, June 5th, is the anniversary of the birth of John Maynard Keynes, once upon a time the great foe of the gold standard. Today also, coincidentally, happens to be the anniversary of the date celebrated of FDR’s “taking America off the gold standard.” These events are not mere historical curios. The current presidential campaign, and underlying political climate, shows we are finally, maybe definitively, emerging from the academic economists’ anathema on the gold standard... ...Trump, the presumptive GOP presidential nominee, is on record as strongly appreciating the gold standard... ...The “interwar gold standard” in fact was a barbarous relic....
  • Today, June 5, 1933: FDR Ends Gold Standard, Bans Private Ownership of Gold [VIDEO]

    06/05/2016 4:03:57 PM PDT · by Tolerance Sucks Rocks · 32 replies ^ | June 5, 2016 | Dave Jolly
    Prior to the election of AmericaÂ’s longest serving socialist president, our money was backed by gold. Anyone holding our paper currency could demand to exchange it for gold at a set price. In 1913, the gold standard was officially made part of the Federal Reserve and the price of gold was fixed at $20.67 per ounce. The same law mandated that the Federal Reserve kept enough gold on hand to equal 40% of the currency issued at the time.On March 4, 1933, Franklin Delano Roosevelt was sworn into office for the first time. The day after his inauguration, Roosevelt closed...
  • James Grant: ‘Something Is Going to Go Wrong’

    04/17/2016 3:03:53 PM PDT · by george76 · 8 replies
    Epoch Times ^ | March 9, 2016 | Valentin Schmid
    Chief editor of Grant's Interest Rate Observer debunks negative interest rates, banning cash, and helicopter money. ... Epoch Times spoke to Mr. Grant about the spotty track record of central bankers, deflation, gold and the gold standard, as well as negative interest rates and a ban on cash. A negative interest rate is not only a tax on saving, it is the destruction of saving. ... Negative interest rates are an attempt to tax thrift. The idea of earning dollar bills and putting those dollar bills in a bank and having them accumulate over time, the accumulation of which is...

    04/16/2016 6:08:49 PM PDT · by combat_boots · 75 replies
    SuperStation 95 ^ | 4 13 2016 | US Reporter
    In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars. The new Yuan will be introduced next Tuesday, April 19. When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency. Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets. But for years, China has been amassing huge amounts...
  • How Ted Cruz Could Deliver the Coup de Grace to Donald Trump

    02/07/2016 1:49:19 PM PST · by Cincinatus' Wife · 160 replies
    Intellectual Conservative ^ | February 7, 2015 | Ralph Benko
    Presidential elections are about, above all, just two things: our security and our prosperity. Promises of prosperity have all but faded into the background... except by Donald Trump. In the last debate in which he participated Donald Trump hit the voters' target bull's eye in stating "I want to use that same up here, whatever it may be, to make America rich again." None of the other candidates came close to featuring The Message we voters wish to hear. Prosperity. If the other candidates - most notably #2 Ted Cruz - wished to gain the voters' hearts, or at least...
  • Ted Cruz’s ‘Big Problem’ (Gold Standard)

    12/26/2015 12:25:25 PM PST · by Isara · 33 replies
    New York Sun ^ | December 26, 2015 | Editorial of The New York Sun
    ...So what is Mr. Cruz's "one big problem"? It turns out to be that he's for honest money, ideally a dollar defined in terms of gold. That is, he's got the same problem that dogged those notorious losers like, to name but a few, Geo. Washington, John Adams, Thos. Jefferson, Andrew Jackson, Grover Cleveland, Wm. McKinley, Thos. Woodrow Wilson, Franklin Roosevelt, Dwight Eisenhower, John Kennedy, and Ronald Reagan.This is a bizarre argument that puts the Huffington Post - the dispatch is by its senior political economy reporter, Zach Carter - in the company of, say, Richard Nixon. It was Nixon...
  • Gold Standard Part II: The New York Times' Leaden Analysis Of Gold

    12/19/2015 11:51:06 AM PST · by Jim 0216 · 31 replies ^ | Dec 9, 2105 | Steve Forbes
    THE NEW YORK TIMES recently ran an article trashing the idea of a return to a gold standard. A growing number of Republicans, including presidential hopeful Senator Ted Cruz, advocate fixing the value of the dollar to gold. The purpose of a gold standard is to ensure that a currency has a fixed value, just as measures of time, weight and distance are fixed. A few of the widespread misconceptions about gold: - Gold restrains economic growth. It does the opposite. When the value of a currency is stable, investment flourishes-and so does economic activity. - Gold dangerously constricts the...
  • Gold Standard Part I: Ted Cruz's Golden Rule

    12/19/2015 11:34:12 AM PST · by Jim 0216 · 48 replies ^ | Nov 4, 2015 | Steve Forbes
    [I]n the CNBC debate, Texas Senator Ted Cruz advocat[ed] that the dollar be tied to gold. The reason monetary policy is so fundamental is that the way we live and progress is through the transactions we carry out with one another countless times a day. Life would be chaotic and our standard of living far lower if weights and measures weren’t fixed–60 minutes in an hour, 16 ounces in a pound and 12 inches in a foot. We assume, for instance, that a gallon of gasoline is the same volume each day. What most observers don’t understand–thanks to John Maynard...
  • Steve Forbes: Ted Cruz's Golden Rule

    11/04/2015 12:22:09 PM PST · by Isara · 29 replies
    Forbes ^ | Nov 4, 2015 | Steve Forbes
    LOST AMID all the fireworks in that CNBC debate of the GOP presidential candidates was the answer Texas Senator Ted Cruz gave to a question about the Federal Reserve, advocating that the dollar be tied to gold. Other than Ron Paul, who has long been a gold-standard advocate, and his senator son, Rand, no other presidential candidate has pushed serious monetary reform since yours truly ran 16 years ago. This is stunning, given the immense damage our central bank has inflicted on the U.S. and the global economy. In fact, few economists, politicians or pundits are even aware of the...
  • Cruz's Golden Moment (Gold Standard)

    10/30/2015 1:37:10 PM PDT · by Isara · 20 replies
    Weekly Standard ^ | Oct 30, 2015 | William Kristol
    Interesting political debates typically have what could be called primary effects. In Wednesday night's case, those would include the Bush-Rubio exchange, which did a lot of good for Rubio and a lot of damage to Bush, and the Cruz assault on the moderators, which was dazzling.But there are also answers and exchanges that only become important later on, perhaps in the next debate. You might say these are moments (potentially) have major secondary effects. There are a couple of them lurking in the transcript of Wednesday's debate. One in particular struck me.Rick Santelli asked Ted Cruz about the Federal Reserve....
  • Trump Iowa Rally Proves Media Is Lying About The Polls!

    10/28/2015 7:38:37 AM PDT · by BlackFemaleArmyCaptain · 127 replies
    The Political Insider ^ | 10/28/2015 | Wayne Dupree
    GOP Presidential candidate and frontrunner Donald Trump took his campaign to Sioux City, Iowa on Tuesday night. He spoke to a packed house on policy issues and tried to rally the state to his side amid media reports that his numbers have faltered behind Ben Carson in the polls. The polls may show support in Iowa slipping for Republican presidential candidate Donald Trump, but Tuesday night in Sioux City Trump set the “gold standard” for presidential campaign rally attendance, according to a local reporter, with an enthusiastic crowd of 2,200. After he had spoken to the audience, Trump ran an...
  • Rand Paul Draws Liberal Fire As The Left Discovers Its Inner Love Of The Fed

    02/24/2015 11:57:45 AM PST · by Kaslin · 20 replies ^ | February 24, 2015 | Ralph Benko
    The New Republic, in its February 8th issue, carries an article by Danny Vinik entitled Rand Paul Has the Most Dangerous Economic Views of Any 2016 Candidate. It appears that TNR’s fact checkers decamped along with its top journalists. Vinik: Speaking in front of more than 150 Iowa activists, Paul ripped into the Federal Reserve and promoted his “Audit the Fed” bill, which he introduced earlier this week. “I think there needs to be some sunshine,” he said, according to reports of the event. …Paul’s bill …would significantly damage the Fed’s independence, which exists so that politicians cannot influence the...
  • The Clock is Ticking in Switzerland

    11/25/2014 2:01:24 PM PST · by SeekAndFind · 9 replies
    Townhall ^ | 11/25/2014 | Peter Schiff
    For most of my career in international investing, I had always placed a great deal of faith in Switzerland's financial markets. In recent years, however, as the Swiss government has sought to hitch its wagon to the flailing euro currency and kowtow increasingly to U.S.-based financial requirements, this faith has been shaken. But this week (November 30th) a referendum in Switzerland on whether its central bank will be required to hold at least 20% of its reserves in gold, will offer ordinary Swiss citizens a rare opportunity to reclaim their country's strong economic heritage. It's a vote that few outside...
  • Why a leading financial analyst believes we will see the 'final destruction' of the dollar

    11/12/2014 8:19:51 AM PST · by fredericbastiat1 · 4 replies
    TheBlaze Books ^ | 2014-11-12 | Benjamin Weingarten
    "[If] the monetary authorities are intent on depreciating the currency, then I think that in the fullness of time they will succeed all too well. …The important thing about QE [quantitative easing] is this idea, this radical precedent is now on the books — the virus as it were is in the monetary bloodstream. ...all of this is…in the books as precedent, and the monetarists and Keynesians are rather preening about the evident success of these interventions, and we can be sure I think that they will not forebear to do more still next time. There will come a time...
  • Steve Forbes says America’s in a ‘new abnormal’ — here’s why he thinks we’ll ‘emerge strong again’

    09/05/2014 6:17:49 AM PDT · by fredericbastiat1 · 2 replies
    TheBlaze Books ^ | 2014-09-05 | Benjamin Weingarten
    An extensive interview with Steve Forbes on the gold standard, economics and America's future. We touch on topics including among others: *The link between foreign policy/American strength and monetary policy *How currency devaluation helps the financial sector to the detriment of the rest of the American economy [Starting at 3:00] *The significance of a strong currency in enabling trade and thus trust, and social stability/morality *Why the historical record of the gold standard should trump the arguments of its naysayers *Whether politicians will ever be incentivized to truly support a sound dollar *Why quantitative easing was more disastrous than the...
  • Steve Forbes: Link Dollar To Gold Or Face Great Depression II

    06/03/2014 9:25:18 AM PDT · by blam · 43 replies
    Washington Examiner ^ | 6-3-2014 | Paul Bedard
    Paul Bedard June 3, 2014 Influential financial publisher and former presidential candidate Steve Forbes is out with a new warning that the U.S. faces an economic catastrophe due to the Federal Reserve's loose dollar policy, and returning to a strict “gold standard” is the only way to avoid disaster. In Money: How the Destruction of the Dollar Threatens the Global Economy -- and What We Can Do About It, Forbes blames President Obama's money team for the stagnant economy, high prices, declining mobility and big government. "[The Fed's] vastly misguided monetary policies are now setting the stage for a new...
  • Central Planning & U

    02/06/2014 12:31:11 PM PST · by Academiadotorg · 5 replies
    February 6, 2014 | Spencer Irvine
    As the U. S. lurches towards a planned economy, it might be interesting to look at the experiences of countries which have already adopted this approach. Unfortunately, few professors will discuss central planning in anything but rhapsodic terms. One of the notable naysayers is Alex Tabarrok, an economist at George Mason University. In an appearance at the Cato Institute last month, he pointed out that: In Spain, the laws require 45 days severance pay for each year of service of a fired employee. As a result of this distorted incentive, businesses never want to hire or fire people, which contributed...
  • No to the Flat Tax, Gold Standard and Other Stale Ideas

    02/22/2013 7:41:35 AM PST · by SeekAndFind · 30 replies
    National Review ^ | 02/19/2013 | James Pethokoukis
    Free enterprise, free markets, competition, and choice: All are timeless economic principles, but their application can and should evolve with changing economic circumstances. When Ronald Reagan was elected president in 1980, the top income-tax rate was 70 percent, inflation was 13 percent, health-care spending was 10 percent of GDP, and publicly held debt was 26 percent. The average American was 30 years old.Today, the top marginal tax rate is 40 percent, and inflation is 2 percent. Health-care spending and the debt have both risen by nearly 80 percent as a share of output. The average American is 37 years...
  • Will Deep-sea Mining Yield an Underwater Gold Rush?

    02/06/2013 5:52:26 PM PST · by TigerLikesRooster · 21 replies
    National Geographic ^ | February 1, 2013 | Meghan Miner
    Will Deep-sea Mining Yield an Underwater Gold Rush? Some environmentalists say the lure of precious minerals threatens ocean life and local cultures. A mile beneath the ocean's waves waits a buried cache beyond any treasure hunter's wildest dreams: gold, copper, zinc, and other valuable minerals. Scientists have known about the bounty for decades, but only recently has rising demand for such commodities sparked interest in actually surfacing it. The treasure doesn't lie in the holds of sunken ships, but in natural mineral deposits that a handful of companies are poised to begin mining sometime in the next one to five...
  • The 1870-1914 Gold Standard: The Most Perfect One Ever Created

    01/04/2013 6:59:58 AM PST · by SeekAndFind · 11 replies
    Forbes ^ | 01/04/2013 | Nathan Lewis
    The most perfect monetary system humans have yet created was the world gold standard system of the late 19th century, roughly 1870-1914. We don’t have to hypothesize too much about what a new world gold standard system could look like. We can just look at what has already been done. Contrary to popular belief, people generally did not conduct commerce with gold coins. Yes, gold coins existed, but people mostly used paper banknotes and bank transfers, just as they do today. In 1910, gold coins comprised $591 million out of total currency (base money) of $3,149 million in the United...
  • Signs Of The Gold Standard Emerging In China?

    10/02/2012 5:11:56 AM PDT · by SeekAndFind · 8 replies
    Forbes ^ | 10/02/2012 | Ralph Benko
    To get rich is glorious. – Deng Xiaoping As noted in last week’s column about the rising recognition by authorities in Germany about the virtues of gold, the gold standard is receiving impressive new recognition internationally. The GOP plank calling for a commission to study “possible ways to set a fixed value for the dollar” — with an unmistakable nod to gold — is the most prominent element of the 2012 GOP platform still being heard to “reverberate around the world.” Meanwhile, it continues to gain impressive momentum in the United States. CNN’s Kevin Voigt writes, in The China Post,...
  • Signs Of The Gold Standard Are Emerging From Germany

    09/25/2012 5:06:48 AM PDT · by SeekAndFind · 3 replies
    Forbes ^ | 09/25/2012 | Ralph Benko
    On September 18th, the London office of Deutsche Bank — one of the most respected banks in the world, and a bellwether of elite opinion — published a Global Markets Research paper entitled Gold: Adjusting for Zero. It was written by two esteemed, mainstream analysts Daniel Brebner and Xiao Fu: "[G]old is not really a commodity at all. While it is included in the commodities basket it is in fact a medium of exchange and one that is officially recognised (if not publicly used as such). We see gold as an officially recognised form of money for one primary reason:...
  • The Gold Standard Is Coming

    09/08/2012 5:27:38 PM PDT · by bruinbirdman · 78 replies
    Forbes ^ | 9/5/2012 | Steve Forbes
    Pundits are pooh-poohing the plank in the GOP platform that calls for a commission to examine “possible ways to set a fixed value for the dollar,” declaring it a sop to Ron Paul supporters. And indeed this was a motivation of hard-core political calculators around Governor Romney. But these self-styled, world-weary cynical types didn’t put this item in of their own volition. They went along with it because it was pushed hard by Tea Party groups and several U.S. senators and representatives, as well as Ron Paul devotees. A picture from the gold vault of the Federal Reserve Bank of...
  • GOP Considers Return to Gold Standard, Audit the Fed

    08/27/2012 4:18:31 AM PDT · by IbJensen · 22 replies
    New American ^ | 8/26/2012 | Alex Newman
    The Republican Party looks set to adopt platform planks at the upcoming GOP national convention in Tampa to support an audit of the Federal Reserve and to call for a commission to study a return to the gold standard, according to news reports. Analysts had a range of reactions to the news, varying from excitement to disdain and disbelief. Despite media claims that Republicans were seeking an end to centrally managed fiat currency and a return to gold-backed money, drafts of the platform revealed far less ambition. According to sources within the GOP cited in reports, the party is simply...
  • Republicans Eye Return to Gold Standard

    08/23/2012 3:42:23 PM PDT · by barmag25 · 54 replies
    CNBC ^ | Thursday, 23 Aug 2012 | Robin Harding and Anna Fifield
    The gold standard has returned to mainstream U.S. politics for the first time in 30 years, with a “gold commission” set to become part of official Republican party policy. Drafts of the party platform, which it will adopt at a convention in Tampa Bay, Florida, next week, call for an audit of Federal Reserve monetary policy and a commission to look at restoring the link between the dollar and gold. The move shows how five years of easy monetary policy — and the efforts of congressman Ron Paul — have made the once-fringe idea of returning to gold-as-money a legitimate...
  • We Need Gold Standard to Stabilize Dollar

    04/11/2012 3:04:03 PM PDT · by SaveOurRepublicFromTyranny · 17 replies ^ | April 9, 2012
    The dollar has lost 85 percent of its purchasing power since the government scrapped the gold standard in the early 1970s, and it's up to Congress to obey the Constitution and bring the system back, says historian and investor Lewis E. Lehrman, author of the book "The True Gold Standard."
  • Kudlow: A King Dollar GOP?

    02/13/2012 5:19:08 PM PST · by Tolerance Sucks Rocks · 22 replies
    GOPUSA ^ | February 13, 2012 | Lawrence Kudlow
    Out on the campaign trail, Fed head Ben Bernanke is an unpopular guy. Mitt Romney and Newt Gingrich have both said they would replace Bernanke, not reappoint him. Rep. Ron Paul would swap the whole Federal Reserve monetary system for a gold-linked dollar, making the yellow metal legal tender. And it was Gov. Rick Perry of Texas, before he dropped out of the race, who said more quantitative easing by the Fed would be "almost treasonous." Republicans in Washington are equally unimpressed by Bernanke. Rep. Paul Ryan recently criticized the Fed for bankrolling our huge budget deficits and thereby accommodating...
  • Ranting Andy's a Happy Gold Standard Extremist

    02/13/2012 1:10:41 PM PST · by appeal2 · 8 replies ^ | 02/13/2012 | Kerry Lutz
    It’s now official, Ranting Andy Hoffman and I are extremists. Why, because we favor a return to the Gold Standard and believe that the United States went bankrupt as a result of Nixon’s decision to abandon the remnants of the Gold Standard that were still in place in August 1971. The FBI is warning local law enforcement that people who consider themselves to be sovereign citizens, who object to EPA regulations, who resent the IRS, could be prone to extreme violence with no warning. If we’re extremists, then we hope you will join us and together we can show the...
  • Triple Lutz Report--The FBI Says Terrorists Support the Gold Standard

    02/13/2012 10:50:51 AM PST · by appeal2 · 17 replies ^ | 02/13/2012 | Kerry Lutz
    The FBI, our federal police, have just released a report claiming that sovereign individuals, who oppose environmental regulations and believe that the United State's departure from the Gold Standard caused it to go bankrupt present a threat to law enforcement. Never mind that rampant criminality taking place on Wall Street, people who believe in limited government are now the threat. So next time you get stopped by a cop, let him now that you support ever expanding government, that he is entitled to life time free medical coverage and that his pension is way too small. And that you believe...
  • Believe In A Return To The Gold Standard? You Are Now Officially An Extremist According To The FBI

    02/11/2012 9:58:03 PM PST · by SaveOurRepublicFromTyranny · 49 replies
    ZeroHedge ^ | February 11, 2012 | Tyler Durden
    Just when we thought the US could not sink any further in its usurpation of civil rights, here comes the FBI to advise all those who tend to think that the broken economic model of the past century is the cause for the global insolvency, that wanton fiat diluation and reckless debt issuance does not 'fix' the problem of uber-leverage, and that the gold standard is the proper way to return to monetary stability, will henceforth be considered extremists. From Reuters: "Anti-government extremists opposed to taxes and regulations pose a growing threat to local law enforcement officers in the United...
  • Warren Buffett: gold has no value

    02/10/2012 6:22:11 PM PST · by bruinbirdman · 106 replies
    The Telegraph ^ | 2/10/2012 | Emma Wall
    Berkshire Hathaway chairman and famous investor Warren Buffett has dismissed gold as a "valueless asset". Billionaire investor Warren Buffett has dismissed gold as a valueless asset saying that it has no inherent value. In an article for Fortune magazine, Buffett said that gold investors were pinning their hopes on future demand. He warned that gold was a self-inflating bubble, created by investors desperate for a viable alternative to property and shares. The infamous investor warned that investors in gold would be left with egg on their face when the price eventually crashed. "Bubbles blown large enough inevitably pop," he said....
  • Economic Chaos Ahead

    02/08/2012 4:16:52 AM PST · by Kaslin · 49 replies ^ | February 8, 2012 | Walter E Williams
    Let's think about the kind of mess that we're in. Federal 2010 Medicare and Medicaid expenditures totaled $800 billion. The projected annual growth of both programs is about 7 percent. Social Security expenditures are more than $700 billion a year. According to the 2009 Social Security and Medicare trustees reports, by 2030, 49 percent of federal revenues will go for Social Security and Medicare payments. The unfunded liability of both programs is already $106 trillion.But not to worry. The Congressional Budget Office estimates that it's possible to sustain today's level of federal spending and even achieve a balanced budget. All...
  • The Federal Reserve's Explicit Goal: Devalue The Dollar 33%

    02/07/2012 4:00:07 AM PST · by Tolerance Sucks Rocks · 33 replies
    Forbes ^ | February 6, 2012 | Charles Kadlec
    The Federal Reserve Open Market Committee (FOMC) has made it official: After its latest two day meeting, it announced its goal to devalue the dollar by 33% over the next 20 years. The debauch of the dollar will be even greater if the Fed exceeds its goal of a 2 percent per year increase in the price level. An increase in the price level of 2% in any one year is barely noticeable. Under a gold standard, such an increase was uncommon, but not unknown. The difference is that when the dollar was as good as gold, the years of...
  • Under Obama, Price of Gas Has Jumped 83 Percent, Ground Beef 24 Percent, Bacon 22 Percent

    01/24/2012 4:25:59 PM PST · by OPS4 · 41 replies
    CNS news ^ | 1/24/12 | Christopher Goins
    So far, during the presidency of Barack Obama, the price of a gallon of gasoline has jumped 83 percent, according to data from the Bureau of Labor Statistics. (AP Photo) During the same period, the price of ground beef has gone up 24 percent and price of bacon has gone up 22 percent. When Obama entered the White House in January 2009, the city average price for one gallon of regular unleaded gasoline was $1.79, according to the BLS. (The figures are in nominal dollars: not adjusted for inflation.) Five months later in June, unleaded gasoline was $2.26 per gallon,...
  • Gingrich makes play for gold vote

    01/21/2012 6:00:47 PM PST · by Tolerance Sucks Rocks · 15 replies
    The Washington Times ^ | January 20, 2012 | Ralph Z. Hallow
    CHARLESTON, S.C. — Newt Gingrich has moved to capture some Republican voters who lean toward Ron Paul and other Republicans who were Jack Kemp followers by naming two gold bugs to the Gingrich future team of advisers. The former House speaker says he intends to appoint investment banker Lewis E. Lehrman, famous in the Reagan era for his red suspenders and gold-standard advocacy, and Jim Grant, editor of Grant’s Interest Rate Observer, as President Gingrich’s Gold Commission - if and when of course Mr. Gingrich wins both the Republican nomination and the general election in November. Mr. Paul, a Texas...
  • Gingrich: U.S. should reconsider gold standard

    01/19/2012 12:56:22 PM PST · by SeekAndFind · 51 replies
    CNN Money ^ | 01/19/2012 | Chris Isidore
    Republican presidential candidate Newt Gingrich is calling for the United States to think about returning to the gold standard. Speaking at a foreign policy forum in South Carolina on Tuesday, Gingrich advocated a "commission on gold to look at the whole concept of how do we get back to hard money." Gingrich, a former Speaker of the House, has spoken in favor of a "hard money" policy in the past, but these were his strongest comments to support reinstating the gold standard. Gingrich would model his "gold commission" after one put in place after Ronald Reagan was elected, when the...
  • Triple Lutz Report--The Trade Deficit and Fiat Money-Perfect Together

    12/06/2011 10:37:39 AM PST · by appeal2 · 26 replies ^ | 12-6-11 | Kerry Lutz
    The United States has run up a cumulative $7.5 trillion Trade Deficit. The last time the country ran a trade surplus was in 1976. Nixon closed the Gold Window in 1971. Do you believe it's just a coincidence that the rise of an un-backed Fiat Dollar and the rise of the Trade Deficit haapened so close in time? The Country has been in a pronounced economic decline since the 1970's and when the Gold Window was closed. Since then the money supply has increased many times and so has inflation. While living standards have declined, so has domestic energy production....
  • October Surprise: Can Gold Be The Panama Canal Treaty Of 2012?

    11/02/2011 8:57:58 AM PDT · by Kaslin · 35 replies ^ | November 2, 2011 | Ralph Benko
    Superpollster Scott Rasmussen has pulled the pin and rolled one of his patented hand grenades under the chair of the Political Class. Rasmussen’s “October Surprise” is contained in a recent poll showing 44% of likely voters favor returning to the gold standard, 28% opposed.  That intensifies.  If the public knew that it would “dramatically reduce the powers of bankers and the political class to steer the economy” support goes up to 57%.   Opposition drops to 19%. Reducing the power of bankers and the political class —  along with gold’s empirical record of turbo-charging job-creation and economic growth — is core...
  • Plan To Return America To the Gold Standard Set To Be Offered at Washington (5-year transition)

    09/27/2011 6:25:19 AM PDT · by SeekAndFind · 32 replies
    New York Sun ^ | 09/27/2011 | Seth Lipsky
    NEW YORK — The next big step in the gold standard debate is going to be taken next month at Washington, when one of the original members of the Reagan-era United States Gold Commission offers a five-step plan to return America to sound money. The architect of the plan, Lewis Lehrman, a businessman and scholar, will present his program in an address October 5 at a conference in Washington on the how to return to a stable dollar. He will outline a five-step program to return America to a gold-backed currency within five years. What is significant about the event...
  • China sets national standards for 'high pure gold'

    09/16/2011 5:50:39 PM PDT · by TigerLikesRooster · 21 replies
    Global Times ^ | 09/16/11
    China sets national standards for 'high pure gold' Xinhua | September 16, 2011 16:57 Authorities have released the first national standards on "high pure gold," a move that is likely to boost the country's gold consumption. "High pure gold," as it is called in the standards, refers to the gold with purity of 99.999 percent, or "five nines," and is also the highest purity so far, a spokesman with the National Gold Standardization Technical Committee said Friday. Generally speaking, a gold ornament with an amount of metal reaching 99 percent is called "pure gold," and more than 99 percent is...
  • Boost Employment By Ending The Fed And Resurrecting The Gold Standard

    09/08/2011 6:24:42 PM PDT · by billflax · 43 replies
    Forbes ^ | 9/08/2011 | Bill Flax
    Another month and another lackluster employment figure. Both parties profess to be fixated on job creation. Where are they? In normal recoveries GDP booms and firms invest in exciting concepts that spur new hiring. Why not now? Despite corporate profits exceeding $1.5 trillion in the recent period, which elevated corporate cash balances over $2 trillion – both records – few firms dare expand. Uncertainty paralyzes both those with capital to invest and those with investments seeking capital. Several probable causes catalyze this economic confusion: looming tax increases, time-wasting regulatory demands and anti-business rhetoric emanating from Washington. All have merit, but...
  • China: American Financial Colony or Mercantilist Predator?

    08/27/2011 6:08:29 AM PDT · by danielmryan · 11 replies
    Whiskey and Gunpowder ^ | August 26, 2011 | Lewis E. Lehrman
    China is an important trading partner of America. But it may also be a mortal threat. And not for the conventional reasons usually cited in the press. Ironically, it is a threat because China is in fact a financial colony of the United States, a colony subsidized and sustained by the pegged, undervalued, yuan-dollar exchange rate. Neither the United States nor its economic colony seems to understand the long-term destructive consequences of the dollarization not only of the Chinese economy but also of the world monetary system. While the Chinese financial system has been corrupted primarily by tyranny, deceit, and...
  • What would happen with the private ownership of gold if the $ returns to the Gold Standard?

    08/21/2011 2:05:25 PM PDT · by DaveinOK54 · 66 replies
    What would happen with the private ownership of gold coins/bullion if the $ returns to the Gold Standard? Would the price be artificially fixed? Would it be confiscated? What about the ability to buy, sell or trade it? (I guess if confiscation happens, the last question is moot) I hear a lot about the need to return to the Gold Standard, but have not seen anything about the affect on private ownership. Thanks in advance wise ones...........
  • James Grant on The Gold Standard (link only)

    08/17/2011 10:28:05 AM PDT · by the invisib1e hand
    well, ^ | 081611 | self
    James Grant is to be paid attention to. The interviewer has a couple of interesting points, too.
  • Abandoning the gold standard was a seminal moment, and one we're now all paying for

    08/15/2011 8:09:31 AM PDT · by SeekAndFind · 11 replies
    The Telegraph ^ | 08/15/2011 | Edmund Conway
    Roll out the bunting. Tomorrow is the 40th anniversary of the modern global economy. That's right: come Monday morning we will have managed to survive four decades of fiat money – though, given the chaos in markets in recent weeks, it is anyone's guess how much longer it will last. On 15 August 1971, with the US public finances straitened by the cost of the war in Vietnam, Richard Nixon finally cut the link between the US dollar and gold. Until then, the US Treasury was duty bound to exchange an ounce of gold with central banks willing to pay...
  • Abandoning the gold standard was a fatal error we're now all paying for

    08/13/2011 5:20:28 PM PDT · by PotatoHeadMick · 62 replies
    Daily Telegraph (UK) ^ | Sunday 14 August 2011 | Edmund Conway
    Roll out the bunting. Tomorrow is the 40th anniversary of the modern global economy. That's right: come Monday morning we will have managed to survive four decades of fiat money – though, given the chaos in markets in recent weeks, it is anyone's guess how much longer it will last. On 15 August 1971, with the US public finances straitened by the cost of the war in Vietnam, Richard Nixon finally cut the link between the US dollar and gold. Until then, the US Treasury was duty bound to exchange an ounce of gold with central banks willing to pay...
  • Gold Standard or Bust (Fixing the dollar before it’s too late)

    07/25/2011 7:38:19 AM PDT · by SeekAndFind · 9 replies
    Weekly Standard ^ | 07/25/2011 | Judy Shelton
    As the truth-or-dare battle over raising the debt ceiling moves toward a resolution of some sort, we are witnessing a unique political moment, with attention finally riveted on our nationÂ’s fiscal future. We are about to learn whether there is such a thing as fiscal responsibility in a democracy where 45 percent of households donÂ’t pay income taxes. Or whether any sense of moral obligation still attaches to paying your own way as a citizen. Chronic budget deficits are evidence of endemic political cowardice when it comes to reconciling government revenues with government expenditures. And our elected officials keep choosing...
  • The Gold Standard, Printing Money and the Federal Reserve

    07/24/2011 12:40:22 PM PDT · by Tolerance Sucks Rocks · 32 replies
    Nolan Chart ^ | July 23, 2011 | James Luko (centrist)
    The media is hyping and harping on the issue that the Federal Reserve will resort to PRINTING more money to feed another round of “quantitative easing.” This is a wholly incorrect fact. The Department of Treasury prints our "paper currency” NOT the Federal Reserve. “Quantitative easing” is the Federal Reserve increasing bank reserves- thereby creating new money electronically- but, for a stated purpose of “stimulating” the economy and NOT for paying government debt. This is a salient point that the media mixes up, assuming and misinforming the public that QE is paying for increased government debts. QE serves a fundamental...
  • Pushing for a Return to the Gold Standard

    06/05/2011 9:20:08 PM PDT · by lbryce · 24 replies
    LA Times ^ | June 3, 2011 | Nathaniel Popper
    The idea to make the precious metal legal tender has gained currency in more than a dozen state capitals, aided by Tea Party support and other efforts to rein in federal power. Economists say the plan would be disastrous. Mike Pitts is no economist, but that hasn't kept the retired small-town cop from taking a prominent role in a quixotic campaign to push the U.S. monetary system back to another century. Pitts, a South Carolina statehouse representative, introduced a bill in April that would make gold and silver coins legal tender in the state. Similar efforts are underway in more...