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Video: Steve Forbes Calls for a Gold Standard.

Written by Gary North on June 21, 2014

This is not a full gold-coin standard. This is a government-guaranteed gold standard: “As good as gold!” It is as reliable as a government promise, e.g., FDR in 1933 and Nixon in 1971.

Still, it’s a sign that someone with a good reputation has broken with Milton Friedman and Paul Krugman.

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4 thoughts on “Video: Steve Forbes Calls for a Gold Standard.

  1. How about debt-free money not borrowed from a private central bank, unlike what we've been doing for the last 100 years! The desperation of the central bankers can be seen in the invasion and coup d'etat of Ukraine, when it was obvious the Ukrainian people were going to vote overwhelmingly to side with Russia and not to be absorbed by the EU with its Fed-like private central banking. So the Western interests simply installed another US puppet and started reprisals, intimidation and surveillance just like we have.

  2. The Federal Reserve is not exactly private: http://www.lewrockwell.com/2008/08/thomas-diloren

  3. Why NOT a "full gold-coin standard"? That is the only way that the gubmint would be a benefit over private coinage mints. With a private mint, you are pretty much stuck with having to deal with actual specie … which is heavy, bulky, a security risk, and has high transaction costs. The gubmint — IF it could be trusted — is in a position to put the bullion in a Fort Knox, defend it, and enable fully-convertible paper and electronic currency. That was the Constitutional money system the Founders tried to set up. We'll continue to stumble from crisis to crisis until that happens. Bitcoin was just a symptom of how dysfunctional we are.

  4. Speaking of Steve Forbes: Why are we talking about investigating the IRS instead of abolishing it? There are better, more efficient, more fair ways to collect revenue. Ask Steve Forbes.