Bernanke: China's Dollar Peg Like Being on Gold Standard
#1 Mar 20, 2012
The problems of being on a gold standard can be seen in China's decision to tie its currency to the U.S. dollar, Federal Reserve Chairman Ben Bernanke said Tuesday.
Full story: Wall Street Journal (24 min a
THE PROBLEM THE UNITED STATES GOVERNMENT AND THE "WALL STREET JOURNAL" SEE WITH THE GOLD STANDARD IS NOT THAT IF THE UNITED STATES WOULD HAVE KEPT THE GOLD STANDARD THE PEOPLE IN THE UNITED STATES COULD STILL FILL UP THE CAR TANK FOR $3.00, BASE ON THE PRICE OF SILVER NOW, WHERE THE TYPICAL U.S. SILVER DOLLAR IS NOW WORTH $25.00.
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