Is A Return to The Gold Standard Possible ?

[blackpup]

Forbes Predicts U.S. Gold Standard Within 5 Years - HUMAN EVENTS

Quote
"“People know that something is wrong with the dollar," Forbes concluded. "You cannot trash your money without repercussions.”quote

I think the quote above is the only part of the article, that I agreed with completely.

Quote
"Forbes cited Rep. Paul Ryan (R.-Wis.), who, he believes, understands monetary policy better than most lawmakers and has shown a willingness to ask tough but necessary questions. For example, when Federal Reserve Chairman Ben Bernanke appeared before the House Budget Committee in February, Ryan, who chairs the panel, asked Bernanke bluntly how many jobs the Fed’s quantitative-easing program had helped to create.'quote

A good question I believe.

jimmy

 

[Dakota]

There is not enough gold in the world to backup our debt

 

[greg334]

As dakota said, there isn't enough gold.

In order to do this, all the countries will have to agree to it and then there has to be an adjustment of the value of the dollar, which means if you bought that $125k house this year, it will be worth $25k in new dollars. Your wages will appear to have been cut down to a level reflecting the actual worth.

BUT the other issue is the stupidity of people who can't understand let alone get a grip on what the adjustment actually means. I think they would come unglued when they learned that the numbers don't make sense, remember we are talking about a population too lazy to apply for a passport so they came up with a driver's license so they can get the same thing without filling out an application.