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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 374.35+0.7%Nov 18 4:00 PM EST
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To: TobagoJack who wrote (52270)7/11/2009 2:42:01 AM
From: RJA_  Read Replies (1) of 217868
 
No governments want to give up the power to tax surreptitiously and stimulate the economy by debasing the currency.

Therefore IMHO it is unlikely a true fiscal gold standard will re appear unless:

1. Governments have no other choice -or-

2. Some gold rich country makes it so (Russia or China).

2 would be difficult because immediately on beginning a gold standard, the value of that currency would rise, and make exports from that country too expensive.

Therefore, we are back to #1.

Gold backing could perhaps occur, however, a direct exchange gold standard is more problematical.

That is my current thinking. I am open to being convinced otherwise.
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