Friday, July 15, 2011

More Talk of a Return to the Gold Standard

I wasn't surprised about the exchange the other day between Ron Paul (R-TX) and Ben Bernake where Bernake says that gold (technically) isn't money; however, the story below from the UK...

Step by step, the world is edging towards a revived Gold Standard as it becomes clearer that Japan and the West have reached debt saturation. World Bank chief Robert Zoellick said it was time to "consider employing gold as an international reference point." The Swiss parliament is to hold hearings on a parallel "Gold Franc". Utah has recognised gold as legal tender for tax payments.

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