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Strategies & Market Trends : Sharck Soup
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To: besttrader who wrote (33045)8/16/2001 12:30:00 AM
From: Canuck Dave  Read Replies (1) of 37746
 
There's only one slight problem with a gold standard.

When Britain returned to a gold standard after the First World War (a move led by Churchill), economists predicted a period of unemployment and general economic upheaval. That's exactly what happened, culminating in the rise of unions, the General Strike of 1926, and ultimately, the depression. Then, like now, the bad times hit Europe first.

To maintain a US dollar against Gold, eventually either real interest rates MUST rise or the money supply MUST be contained. There are simply no other ways to put the breaks to the credit excesses of today. A depression and higher unemployment will follow. Elections are never more than 2 years away in the good old US of A. Would any incumbent politician be willing to take that risk?

CD
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