Gerry Epstein Refutes Peter Schiff & Ron Paul's Nonsense Re. US Going Off Gold Standard
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What esptein has stated is technically true. But, he is wrong to assume that currency does not require some sort of backing. Furthermore, Gold & Silver are instruments to which ALL countries can measure their currencies against and AGREE upon. epstein is rightfully criticizing neo-liberal politics/economics, yet he contradicts his argument by viewing the rest of the world from a "Ameri-centric" perspective. Countries only care that another countries currency is backed with something they trust.
ThePatriotMuckraker 3 months ago
Cancellation of the tangible gold standard gave rise to "floating exchanges" due to the new currency fluctuations. In an attempt to offset these week-to-week (or so) currency fluctuations multi-national companies created in-house financial services. Like a recent Nobel Prize winner in economics said ... ... there should be a money standard, we have a standard for length, mass, volume, time, etc. .... why not for money ?
Why does a currency have to be overly-devalued ?
VideoGundamXYZ 5 months ago
There's a saying "God makes gold, Man makes money". Gold enforces fiscal discipline/responsibility, something that politicians do not like as evidenced from Nixon's actions. With a tangible money standard, excessive spending on wars and those more-foolish social programs is difficult. When gold was dropped, the US got lazy and preferred the "financial engineering" over the "technical engineering" path (such a shame).
VideoGundamXYZ 5 months ago
@juliaisafilmbuff123 If you aren't already subscribe to the Real News channel. Good stuff.
jstncbllr 5 months ago
THANK YOU for this.
juliaisafilmbuff123 5 months ago