Relevant:
- Unlike Big Banks and Bigger Governments, Gold Doesn't Lie
- Study Finds the dollar gold price controlled by JPM in cooperation with the BIS; "No Free Market in Gold"
- Republican platform to offer sop to Paul supporters: another gold commission
- Gold Up 11% Euro This Year As Currency Wars Intensify
- Warren Buffett: Paradigm Puppet
2008-11-24 — ft.com
The lesson that must be learnt from this disaster is that “free market†capitalism under a fiat money regime does not produce the same blessings (sustainable prosperity) that are produced by true free market capitalism within a monetary system anchored by gold. When President Nixon severed the link between the dollar and gold, he changed the nature of the Anglo-American economic model and ultimately destroyed it.
Ah, we can remember (not so fondly) a year or two ago when common-sense points like this were considered "crackpottery". I guess desperation works wonders for shifting the zeitgeist.
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