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overtheedge
Member since May 2012
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The Myth Of The New American Gold Standard

- Antal E. Fekete - Gold University

"However, as the new helmsman Bernanke has warned, deflation may well be the greater danger of the two. He is getting ready to load the helicopters for the dollar-drop while gearing up the printing presses for a fresh run."

At this time might I suggest you scroll back up to the article and then note the date.
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Please make sure your seats and tray tables are in the upright and locked position ... and your seat-belt is secure.

This is your captain speaking. We have plenty of fuel left, but our instruments have failed. The noise you hear is our landing gear being deployed.
We are going to land. I'm not sure when or how hard. Gravity can really suck at times, but it is the law. It ain't a talking point or somewhere to start negotiating from.
This coming landing will reduce everything to its market value.

Commerce must rise anew. I contend that it is commerce that reduces the probability of armed conflict. I would further argue that commerce exists to afford our predominantly female partners a small or not-so small measure of luxury. Some smart dude said something like, "When goods quit moving across borders, armies start." Mayhaps one group has an immediate need to tender luxury tokens upon his/her life-partner. Ever been married?
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Now returning you to this article by Mr. Fekete, either he was/is prescient or he just sees linkages through the use of what I term free-thinking.
I define free-thinking as a concerted effort to avoid any and all bias to the best of one's ability. I don't believe, so "show me the beef."

Everything is connected to everything.
Everything has to go somewhere.
There ain't no such thing as a free lunch. TANSTAAFL

Great article.

Commented 3987 days ago

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Beginning of the headline :In 1999 The New York Times ran an obituary of the "barbarous relic" from the pen of Floyd Norris under the title "Greenspan Has Become the New American Gold Standard" (op-ed page, International Herald Tribune, May 5, 1999). It alleged that the process of removing the glitter from gold has been a gradual but inexorable one and the world was more than happy to accept the greenback backed by Greenspan (no pun intended), just as earlier it had accepted the yellowback backed by the precious yellow. The earmark of the new millennium is people's unshakeable faith in the dollar. My rejoinder suggesting that "rumors about the demise of gold were grossly exaggerated", written over six years ago, is reproduced below. It goes without saying that The New York Times refused to publish it. The occasion for publishing it now is the impending historic changeover from the Greenspan standard to the Bernanke standard... Read More

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