MY TAKE
So according to business fiend Steve Forbes, the US will have no choice but to be back on the gold standard within the next five years. His reasoning: well he didn’t really say except that the idea will gain popularity and it will be the only way to attract foreign investors. News Flash for Mr. Forbes, that’s not good enough to bring back the gold standard. Our own corporations don’t invest in the US, never mind foreign investors. Why is that again? Oh because costs are less overseas. China continues to intentionally devalue their own currency to make sure costs for businesses stay low. In an environment like that, does Mr. Forbes really believe that the US will suddenly decide to worsen their own situation.
Now don’t get me wrong if everyone was on a level playing field, having a gold standard is a great way to keep the federal government responsible. Unfortunately in today’s one world global economy, Tariffs have a better shot at making a comeback than the gold standard.
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moderateblogger posted this
