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Can the US return to the Gold Standard? Is it best?

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posted on Jan, 25 2007 @ 05:04 PM
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The US currently has in national reserves approximately $182 billion USD in Gold. The US economy being approximately 12 trillion dollars means that essentially the dollar's value can easily be increased 100 fold by converting to Gold standard correct?

Of course this means that the USD is dependent upon Gold pricing and that gets more complicated however but essentially the US can pay off its debt more easily by increasing the worth of its Dollar and pitting against the value of its Debt.

I'd like to discuss this more but I currently have to read more here's just one publication for everyone to start a debate.

www.lbma.org.uk...




posted on Jan, 25 2007 @ 05:18 PM
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Oh and by the way the article I did post is a counter-argument it shows a history of Gold standard and some pros but concludes it can't work in today's economy primarily because the world during the Gold standard was stable prices but low volatile growth and today's world is high stable growth but volatile prices.

I believe his argument is strong against the Gold standard but that the Gold Standard seems to be the way to manage affairs when the world is not in "hyper growth" as we see now with so many emerging markets.

Someday depression will happen again instead of inflation and we may then want to seek the Gold Standard.



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