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Written by Ralph J. Benko
- Forbes |
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Tuesday, September 25, 2012 |
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Indeed, the fact that central banks can create money out of thin air, so to speak, is something that many observers are likely to find surprising and strange, perhaps mystical and dreamlike, too – or even nightmarish.
— Jens Weidmann
On September 18th, the London office of Deutsche Bank — one of the most respected banks in the world, and a bellwether of elite opinion — published a Global Markets Research paper entitled Gold: Adjusting for Zero. It was written by two esteemed, mainstream analysts Read more |
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Written by Karl Shmavonian
- Forbes |
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Monday, September 10, 2012 |
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Investors have been flocking to gold in the past few years, and debate has been heating up about the U.S. switching back to the gold standard, an idea espoused by our own Steve Forbes (more on that a bit later in the post–seems that becoming a gold bug is not induced by genetics). For whatever reason, gold evokes more emotion and heated debate than other commodities or economic topics, and big hitters are on both sides of the argument. (The subject also makes journalists dig into their elegant-variation bag ad nauseam fo Read more |
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Written by Peter Schiff
- Forbes |
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Saturday, September 08, 2012 |
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In its Tampa platform, the Republican Party called for a commission to study “a metallic basis for the U.S. currency.” Judging by the reaction with which many Republicans have greeted the plank, one would think that the platform might as well have called for the return of slavery.
The fact that so many supposed conservatives liken a belief in a gold standard as the monetary equivalent of membership in the Flat Earth Society shows just how far the American public has come from a true understanding of how money Read more |
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Written by Steve Forbes
- Forbes |
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Thursday, September 06, 2012 |
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Pundits are pooh-poohing the plank in the GOP platform that calls for a commission to examine “possible ways to set a fixed value for the dollar,” declaring it a sop to Ron Paul supporters. And indeed this was a motivation of hard-core political calculators around Governor Romney. But these self-styled, world-weary cynical types didn’t put this item in of their own volition. They went along with it because it was pushed hard by Tea Party groups and several U.S. senators and representatives, as well as Ron Paul devote Read more |
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Written by Nathan Lewis
- Forbes |
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Friday, August 31, 2012 |
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A friend tells me that the soft-money advocates will always argue something along the lines of: “What if the financial crisis of 2008 had happened and we were on a gold standard?” They imply that a gold standard system would have made the crisis much worse.
Well, what if?
All of these kinds of soft-money arguments tend to boil down to the notion of devaluing the currency during a time of crisis. The actual strategy could be an overt currency devaluation, or it might be related to very low interest rates, or Read more |
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