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Keyword: goldstandard

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  • Federal Reserve to Launch Its Own E-currency: Fedcoin

    09/23/2017 11:10:02 AM PDT · by PPSman · 39 replies
    EconomicPolicyJournal.com ^ | September 23, 2017 | Robert Wenzel
    The U.S. Federal Reserve will not only issue its own cryptocurrency but will also make sure Americans use it, according to Doug Casey. “To start with, I suspect it’s going to be a parallel currency. Perhaps usable just within the U.S. which, in effect, would be a form of foreign exchange controls even more effective than the inability of Americans to open up foreign bank and brokerage accounts today [due to monetary control through FATCA]…I think it’s a near certainty that they’re going to do something like this and soon.” They will call it Fedcoin. David Andolfatto, vice president at...
  • Trump Favors Returning To The Gold Standard

    09/04/2017 3:37:38 PM PDT · by davikkm · 59 replies
    IWB ^ | Ruby Henley
    When Donald Trump was campaigning to be President, he said in an interview with Renee Montagne: “Bringing back the gold standard would be very hard to do, but, boy, would it be wonderful. We’d have a standard on which to base our money.” In 1971 President Nixon made a terrible mistake when he made the decision to suspend the convertibility of the dollar into gold. The dollar did become and remains the world’s global currency, but at what price? When the United States started to use “credit,” it went from being a privilege to a liability. The debt grew rapidly,...
  • Should the United States Abandon the Federal Reserve System?

    03/09/2017 8:07:43 PM PST · by Tolerance Sucks Rocks · 54 replies
    Economics Wire ^ | March 9, 2017 | Viliyana Filipova / Mr. Conrad
    The Federal Reserve gives us the freedom to buy things now that we would otherwise have to wait for.In looking at the Federal Reserve, it is important to note that this is a money system, not just a group of people sitting in a conference room controlling everything having to do with the US dollar. The Fed is a system just like the government of the US is a system. What that means is that no one controls it, and that it is much bigger than any one person or group of people could ever control. They can guide it,...
  • THE MOST INFLUENTIAL PEOPLE IN THE TRUMP ADMINISTRATION TURN OUT TO BE GOLD STANDARD FANS

    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
    Constitution.com ^ | 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...
  • CHINA SAYS "NO DOLLARS" FOR NEW YUAN

    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
    Forbes.com ^ | 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
    Forbes.com ^ | 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
    Townhall.com ^ | 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...