Friday, August 24, 2012


The below snippet from an article detailing the formation of a "gold commission" within official Republican policy is a silly hearkening back to times when it was an advantage for the U.S. to establish credibility via such a standard, and the comparative little cost in its adherence.

Today, the situation is starkly different, to put it mildly, and it is shocking to me that ANY abdication of power with respect to U.S. foreign policy is endorsed by the traditionally more Hawkish party.

As I have said on previous occasions, a return to the gold standard exports the control of U.S. monetary policy to the marginal gold producing countries (stable, friendly jurisdictions like China, Russia, Uzbekistan, and Ghana).

“There is a growing recognition within the Republican party and in America more generally that we’re not going to be able to print our way to prosperity,” said Sean Fieler, chairman of the American Principles Project, a conservative group that has pushed for a return to the gold standard.

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