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Joined: Oct 2009
Posts: 386 Likes: 3
Top 500 Poster
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Top 500 Poster
Joined: Oct 2009
Posts: 386 Likes: 3 |
More than a century ago JP Morgan said: "Gold is money, everything else is credit"
....and just month ago Ron Pol asked Ben Bernanke: "Is gold a money?" and then after unpleasant pause ( looked like Ben was taken unawares), he answered: "No"
Also I read that some states in USA are going to engrave their own golden and silver coins and use them as a legal way of a pay.
And next: do you remember this:(excerpt from Wikipedia)
"On August 15, 1971, the United States unilaterally terminated convertibility of the dollar to gold. As a result, "[t]he Bretton Woods system officially ended and the dollar became fully 'fiat currency,' backed by nothing but the promise of the federal government."[1] This action, referred to as the Nixon shock, created the situation in which the United States dollar became a reserve currency used by many states. At the same time, many fixed currencies (such as GBP, for example), also became free floating."
So what? Now independent American experts say : "Time has come to return to golden standard otherwise soon you'll be using fiat money as a wall-paper to glue your home."
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