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Forbes Predicts U.S. Gold Standard Within 5 Years

Posted By admin On May 11, 2011 @ 4:14 am In Featured Stories | Comments Disabled

Paul Dykewicz
Human Events [1]
Wednesday, May 11, 2011

A return to the gold standard by the United States within the next five years now seems likely, because that move would help the nation solve a variety of economic, fiscal, and monetary ills, Steve Forbes predicted during an exclusive interview this week with HUMAN EVENTS.

“What seems astonishing today could become conventional wisdom in a short period of time,” Forbes said.

Such a move would help to stabilize the value of the dollar, restore confidence among foreign investors in U.S. government bonds, and discourage reckless federal spending, the media mogul and former presidential candidate said. The United States used gold as the basis for valuing the U.S. dollar successfully for roughly 180 years before President Richard Nixon embarked upon an experiment to end the practice in the 1970s that has contributed to a number of woes that the country is suffering from now, Forbes added.

If the gold standard had been in place in recent years, the value of the U.S. dollar would not have weakened as it has and excessive federal spending would have been curbed, Forbes told HUMAN EVENTS. The constantly changing value of the U.S. dollar leads to marketplace uncertainty and consequently spurs speculation in commodity investing as a hedge against inflation.

Full story here. [1]

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URLs in this post:

[1] Human Events: http://www.humanevents.com/article.php?id=43439

[2] Image: http://www.stansberryresearch.com/pro/1103PSIEOAVD/PPSIM375/PR

[3] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[4] Celente predicts gold standard won’t save US economy: http://www.prisonplanet.com/celente-predicts-gold-standard-wont-save-us-economy.html

[5] Economists pan idea of new U.S. gold standard: http://www.prisonplanet.com/economists-pan-idea-of-new-u-s-gold-standard.html

[6] Citi Predicts Gold At $3400 In “The Next Two Years”, Potential For Move As High As $6000: http://www.prisonplanet.com/citi-predicts-gold-at-3400-in-the-next-two-years-potential-for-move-as-high-as-6000.html

[7] Howard Buffett Said “Human Freedom Rests On Gold Redeemable Money”, Called For Return To Gold Standard: http://www.prisonplanet.com/howard-buffett-said-human-freedom-rests-on-gold-redeemable-money-called-for-return-to-gold-standard.html

[8] Ron Paul Explains His Plan For “Monetary Freedom” And Returning To The Gold Standard: http://www.prisonplanet.com/ron-paul-explains-his-plan-for-monetary-freedom-and-returning-to-the-gold-standard.html

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