Loading ...New Deal vs Old deal
Under gold standard to increase money supply Treasury had to increase the price of gold. Can anyone calculate what gold price is today using current increase in Money supply??
Got Gold??
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“In the thirties, prices fell, only offset by the dollar’s devaluation in January 1934. This time, monetary inflation knows no limit. The wealth destruction through monetary inflation will be an added burden to contend with compared with the situation ninety years ago.”
“Unfortunately, governments in the developed nations are making the same mistakes dealing with the current economic crisis as they made ninety years ago. As was the case between 1930—1933 we can be almost certain of a banking crisis. This time it will be global and almost certainly will require banks to be taken into public ownership. The cost will be immense, and it will be paid for by inflationary means.”
https://www.goldmoney.com/research/goldmoney-insights/the-new-deal-is-a-bad-old-deal
I recall seeing a number like 65k an oz
Seems like one of those numbers that seems
Like we’ll never see it
seems appropriate. But Prof Antal Fekete states just one oz of gold coin will be able tobuy back FED total treasury bonds.
Agree Mserr. Once the link was broken there is absolutely no going back.
Governments don’t want money based on anything (now) because that way they can increase the supply as they desire. Fiscal irresponsibility is the name of the game, until the music stops that is.