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Fiat Currencies May be Replaced by Gold Standard

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posted on Apr, 10 2009 @ 08:33 AM
News Tip:


Gillian Tett is the head financial writer for the Financial Times, one of the leading mainstream financial publications. Investment analyst and financial writer Yves Smith says of Tett:

[Whatever] Tett is writing about … will be taken seriously, since Tett is read by central bankers.

So it is newsworthy that Tett writes today that the odds of a return to the gold standard are increasing:

A panel at the World Economic Forum meeting in Davos … was asked to produce one concrete recommendation to fix the global financial crisis.

The top pick? … a new reserve currency, akin to an old-style gold standard….

Moreover, these musings about a gold standard are currently cropping up in all manner of unlikely places. One savvy European property developer (who aggressively sold most of his holdings in early 2007) recently told me that he is now moving a growing proportion of his assets from government bonds into gold, even at today’s elevated prices.

“The logical conclusion of where we will end up eventually is with some type of gold standard,” he explains, arguing that future inflation will almost inevitably cause a future collapse in government bonds.

Fiat-governments with fiat-currencies can never be trusted by wise people, who know the nature of wicked people in criminal-organizations, such as the world-government.

We will not be their slaves. Their tyranny must end.

posted on Apr, 10 2009 @ 08:38 AM
Impossible we don't have enough Gold to cover our debt.

posted on Apr, 10 2009 @ 08:40 AM
There isn't enough gold in the world to back a global currency. And even if a dollar = one millionth of an ounce of gold, we're not going to be trading physical gold anytime in the future. It will always be paper or plastic.

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