Fed Chief Powell warns about return to gold standard

Richard T

Well-Known Member
Mar 25, 2018
1,461
973
traveling Asia
✟69,791.00
Country
United States
Faith
Non-Denom
Marital Status
Single
I find it sort of funny, yet sad that his discourse on the gold standard in that article relies primarily on the Fed's dual mandate of price stability and low unemployment. First, the dollar is not stable, now. It has lost some 99% of it's value. I also think you could influence unemployment in spite of having a gold standard. I personally, don't think the gold standard is doable though, ever again. Mainly because the government would have to outlaw private sales of gold again and there still would not be enough gold to hold in reserve, since the money supply figure is in the trillions.
 
  • Agree
Reactions: mukk_in
Upvote 0