An Upcoming Gold Standard? Anything Jim Rickards says, I listen to....Gives a little credence to what Cardinal is thinking about.
Jim Rickards - Gold Standard Coming, Fed’s Hoenig Correct
https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/1/6_Jim_Rickards_-_Gold_Standard_Coming,_Feds_Hoenig_Correct.htmlFed's Hoenig says gold standard "legitimate" system
Missouri |
Wed Jan 5, 2011 2:25pm EST KANSAS CITY, Missouri (Reuters) - A gold standard that forces countries to back their currency reserves with bullion is a "legitimate" monetary system, though it would not prevent financial crises, Kansas City Federal Reserve President Thomas Hoenig said on Wednesday.
"The gold standard is a very legitimate monetary system," Hoenig said, adding: "We're not going to have fewer crises necessarily. You will have a longer of period of price stability or price level stability, but I don't know that you'll have lower unemployment, I don't know that you'll have fewer bank failures."