GIM Hall Of Fame
- Mar 30, 2010
- Reaction score
"Ms Shelton has long been sympathetic to the gold standard, which the US fully abandoned in the early 1970s in favour of a flexible exchange rate for the dollar. “People call me a goldbug, and I think, well, what does that make them? A Fed bug,” she says. Her big dream is a new Bretton Woods-style conference — “if it takes place at Mar-a-Lago that would be great” — to reset the international monetary system, replacing the current regime, mostly based on floating currencies. Ms Shelton said countries should agree to tie their currencies to a “neutral reference point, a benchmark” — which she envisages to be a “convertible gold-backed bond”.
Fed candidate slams bank’s ‘Soviet’ power over markets
I just can't see that we are going back to gold like it was..... and convertability, well, yeah sure we have the gold, trust us! What? Audit Fort Knox? Piss off you troll! ---> I think that there would be all those credibility issues etc. Maybe we do... but ... hmmmmmm, I can't see it yet.