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| Economy |
| Fed Former Chair Greenspan: Brexit Paves Way for ‘Gold Standard' |
| 2016-07-12 |
| [Breitbart] Although former Federal Reserve Chairman Alan Greenspan said the UK referendum to leave the EU was a "terrible mistake" that led to a "terrible outcome in all respects," he now expects "Brexit" will cause an inevitable return to the "gold standard." In 1966, Greenspan published "Gold and Economic Freedom" in Ayn Rand's "Objectivist" libertarian newsletter to praise the virtues of the gold standard: An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense -- perhaps more clearly and subtly than many consistent defenders of laissez-faire -- that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other. |
| Posted by:Besoeker |
| #6 Price gold at a trillion dollars an ounce, and there will be more than enough to run a world economy. There will be no economy. Just ask the citizens of Zimbabwe or Venezuela, |
| Posted by: Procopius2k 2016-07-12 18:23 |
| #5 There's an insufficient amount of precious metal to run a world economy. On the other hand, simply printing money without any value or backing does not appear to work either. It seems they could, but no gold would be in the average Joe's hands after a short while. |
| Posted by: gorb 2016-07-12 14:52 |
| #4 Price gold at a trillion dollars an ounce, and there will be more than enough to run a world economy. But until the oligarchs own the whole world economy, it will never be enough. |
| Posted by: Anguper Hupomosing9418 2016-07-12 11:28 |
| #3 They keep trying it though, P2k. |
| Posted by: Mullah Richard 2016-07-12 08:18 |
| #2 There's an insufficient amount of precious metal to run a world economy. On the other hand, simply printing money without any value or backing does not appear to work either. |
| Posted by: Procopius2k 2016-07-12 08:01 |
| #1 Sorry Alan, appears no one has informed the markets: |
| Posted by: Besoeker 2016-07-12 07:55 |