Should the U.S. Return to a Gold Standard?
Wednesday April 2, 2008
In my article on Republican Presidential Candidate Ron Paul, I stated that a return to the gold standard would "isolate the economy from global trade. It would be unworkable." Several readers objected to my dismissal, citing many reputable sources to the contrary.
In response, I have explained more thoroughly my point of view. To be fair, I have explained the history of the gold standard, and both its advantages and disadvantages. However, I still conclude that it is too late to return to a gold standard. For example, the U.S. does not even have enough gold, at current rates, to pay off the portion of its debt owed to foreign governments. For example, China, Japan and other countries own $2.4 trillion in U.S. Treasury debt - but there is only $182 billion (at $743 per ounce) total in gold reserves at Fort Knox.
For more, see How Would a Return to the Gold Standard Affect the U.S. Economy?
Comments
In the first place, there is no gold in Ft Knox. Just what they show from time to time. You should really do some digging into history–pardon the pun. We should do away with the Federal Reserve completely. It serves no purpose for the people. It only funds wars and actions that the governments do not want us to know about planned behind closed doors. Have you researched into the Society of the Jesuits and their long history all the way back to the Middle Ages? and the Black Pope? and other vatican assassins, that have and are still caring out their plan for one world order. Listen to Bush, Sr and the current Bush talk about the New World Order. They both have mentioned this in speeches to Congress and public speeches to the people. History has always been something interesting and complex. But if we do not go back to a Constitution Government as it was meant to be by our fore fathers and get out of wars that we should not be in the in the first place we will just go further “down the rabbit hole”. Dr Ron Paul is the ONLY candidate who really understands the reality of what lies ahead if something is not done with the government as it is now. He can make a difference but first has to be given a chance. So why not vote for him? Everyone has been saying for years that they have “just voted for the lesser of the two evils”, so give the other guy a chance, it’s only for four years, for can it hurt. You may like what he can do if you are really a true American and want our country to stand for something again worth while.