Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Return to Gold Standard? Why Price Would Hit $10,000

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

John Melloy
CNBC
October 14, 2011

All the major countries in the world are in a race to debase their currencies in order to restart their economies. Either economic growth returns or—as some doomsayers predict—the 40-year run of fiat currencies ends.

And if under this worst case scenario the solution was to return to the gold standard of the Nixon years, the price of bullion would be worth $10,000-plus, six-times the current price, according to Paul Brodsky, co-managing member of QB Asset Management company and a self-professed ‘Gold Bug.’

To be sure, a return to the exact terms of the Bretton Woods Monetary Agreement is a near political impossibility because of the traumatic devaluation in the U.S. dollar it would cause. Yet, a move away from debt-based currencies to a system somewhat based on hard assets is not out of the picture if the global economy doesn’t recover or policy makers don’t allow for a painful deleveraging, some investors say.

“Policy makers are holding a burning match,” Brodsky said in a speech to a packed crowd at The Big Picture conference Tuesday in New York. “Baseless currencies follow the tyranny of short-term politics and so shall this.”

Full article here

This article was posted: Friday, October 14, 2011 at 3:36 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
Scotland: Still Not Scot Free See the rest on the Alex Jones YouTube channel.

Mystery Surrounds Weird 'Tree' Cellphone Tower in NC See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.