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I'm sure I can do better than that, but where's the fun in that? By the way I know the History channel (go figure why) also did and "expose" on whether there is actually gold in fort knox or not. So the conspiracy theory is quite "mainstream"
What timing. I just took a break from re-reading "Lords of Finance -The Bankers who broke the world" by Liaquat Ahamed. Its concerning the four heads of the Central Banks of the US, Germany (after their currency already was in shambles), England and France after WW1 and their mission to rebuild international finance. Despite all their differences, they shared the fear of inflation and their solution was to return to the Gold Standard. They felt that the currencies had to be backed by Gold to be legitimate.
What followed was the Great Depression.
But I guess even after all these years bankers still hold onto the notion however slight that somehow Gold should in some way back or serve to legitimize the currency even if there is no Gold Standard anymore. If only for appearances.....
I agree with the gold agnostic article that selling gold now would send a complex, probably unsettling message, and there's not that much of it anyway. OTOH, if the proceeds were used to buy US Dividend Aristocrats (a patriotic drum roll and fife tweet, please) for the ongoing funding of social security, even that relatively token amount might send a stimulating message. As to Congress (I guess that is Congress "having congress" these days), if this is the new normal, I may see if Canada accepts seniors as citizens.
Comments
http://dailyreckoning.com/really-theres-no-gold-in-fort-knox/
Regards,
Ted
What followed was the Great Depression.
But I guess even after all these years bankers still hold onto the notion however slight that somehow Gold should in some way back or serve to legitimize the currency even if there is no Gold Standard anymore. If only for appearances.....
As to Congress (I guess that is Congress "having congress" these days), if this is the new normal, I may see if Canada accepts seniors as citizens.