Thursday, August 20, 2009

Back to the Gold Standard

After leaving the gold standard, manipulation of the markets and abuse of financial regulations have mushroomed slowly leading to crisis after crisis with the current crisis just being the latest and biggest one.

Many voices call for a return to the gold standard where paper money is redeemable for gold and backed by gold. This leads to stricter monetary policies and avoids escalation of debt as we see it right now. Without doubt regular citizens can reap benefits from the prudent return to the gold standard. Still, financial "experts" frequently call the gold standard unrealistic. In this article the top 5 myths about why we can't go back to a gold standard are debunked: Five Myths About the Gold Standard.

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