US to return to gold standard. Really?

posted by
July 14, 2011
by Robert Blumen  
Posted in Commentary

"When the current system fails, there are two primary barriers to the adoption of a better system. The first is the political actors who moved to abandon the gold standard the first time around haven't gone away. The vested interest of powerful groups who wish to use the fiat money printing press are still around; if a new opening appears, the usual suspects will apply for their jobs back. That which has not killed them has made them stronger. But the a deeper obstacle is ideology." (07/15/11)  

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