The True Gold Standard (Second Edition)
Steve Forbes Explains a Benefit to Returning to the Gold Standard You Probably Haven’t Thought About
Remember when the dollar was referred to as being as “good as gold?”
Appearing with Neil Cavuto on FOX News’ “Your World,” Steve Forbes says that it’s time for the U.S. to restore a dollar that is literally as good as gold.
Fresh from writing his new book called Money: How the Destruction of the Dollar Threatens the Global Economy – and What We Can Do About It, Forbes, a two-time presidential candidate and the head of Forbes Magazine, discussed with Cavuto the benefits of returning to the gold standard.
“You say we need to get back to pegging our currency to gold. Why?” asked Cavuto.
“Because …Read more
It would benefit all gold investors to understand the history of the gold standard to give proper context to gold’s demand today and potential role in a future currency to replace the dollar. As the protracted correction and consolidation in precious metals continues, what better time to brush up on the history of the gold standard. For instance, how many gold investors know that it was none other than Sir Isaac Newton, one of the most influential scientists of all time and smartest men in history (IQ estimated at 190), that developed the gold standard? The following is from Michael D. Bordo, …Read more
Yesterday was the 30th anniversary of Republican Rep. Jack Kemp’s introduction of the Gold Standard Act of 1984—a bill that some regard as the last congressional push for sound money. “Lower marginal tax rates and a proxy for the gold standard created 40 million jobs,” Jack Kemp Foundation President Jimmy Kemp said at a forum hosted in the U.S. Capitol. “We are here today to encourage people to take it and bring it to conclusion.” The Jack Kemp Foundation, in association with American Principles in Action, hosted the event Friday to discuss Kemp’s gold standard legacy and to encourage a …Read more
The most effective way to return to a sound money policy and a healthy economy is to return to the gold standard, says Steve Forbes, author of "Money: How the Destruction of the Dollar Threatens the Global Economy and What We Can Do About It". Forbes says the devaluation of the dollar is responsible for the weak recovery, lingering long term unemployment and high food and fuel prices. In order to survive the destruction of the dollar, Forbes says investors should consider owning gold, index funds from low cost providers, cash and Treasury Inflation Protected Securities. … Read more
Not only is China the world’s top gold-producing and consumer nation but according to media reports, the country now has plans to become a major player in market pricing. According to reports, the People’s Bank of China has given the Shanghai Gold Exchange permission to build an international gold-trading platform in Shanghai. The exchange has already contacted foreign banks including HSBC, ANZ, Standard Bank, Standard Chartered Bank and the Bank of Nova Scotia and invited them participate in a new international board. China’s announcement to create an international price platform comes during …Read more
History Review: ‘War and Gold: A 500-year History of Empires, Adventures and Debt,’ by Kwasi Kwarteng
One of my souvenirs is a note from the Reserve Bank of Zimbabwe. I paid a vendor in Victoria Falls $3 for it, and that was more than it was worth. Its value to me is in the impressive pledge on the note: “I promise to pay the bearer on demand TWENTY BILLION DOLLARS.” When your national currency is rooted in such paper promises, inflation and chaos are sure to follow. This is the lesson taught in War and Gold by Kwasi Kwarteng, a son of Ghanaian parents who is a historian, hedge fund analyst and Conservative member of Britain’s Parliament. Kwarteng does not mention the fiscal follies of …Read more