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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: NOW who wrote (91060)	1/30/2008 4:47:45 PM
From: Gemlaoshi	Read Replies (2) of 110194

Tooearly, Interesting article, but I don't think the primary problem with returning to a gold standard is a technical one of figuring valuations. There is no will to return to a standard whose entire purpose is to bring a strict discipline to monetary policy. There is no magic in gold...a desire to have strict monetary discipline can be accomplished in several different ways. We abandoned the gold standard because as a nation we did not have the political will to address the monetary and fiscal excesses of the 1960s. Since then, politicians and economic policy makers revel in not having any legal or regulatory restrictions on their actions. For any serious politician of either party to suggest returning to true monetary discipline would be political suicide. (Ron Paul is serious, but not a "serious" candidate) There may be eventual collapse of the dollar, but I doubt a return to a gold standard...its discipline is just not politically acceptable. In its place, we will have a lot of political rhetoric and replacement with some other fiat currency (minus a few zeros). Dave

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