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I heard a statement from Peter Schiff yesterday and I’m having some trouble thinking about it. The average Ford worker in Henry Ford’s era (1914) earned approximately $5 per day in wages – the equivalent of 1.25 ounces of gold per week. The average Ford worker today earns approximately...
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Hypothetical question : If the US Treasury/ Federal Reserve were to make an announcement saying that the US will never be returning to the gold standard (and fiat currency were permanent), and the Fed would no longer hold gold in its vaults, what would be the impact? What would be the attractiveness...
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I saw this on an anti-Ron Paul site today. Some marxist said if America goes back to the gold standard it would either have to buy up all the gold on earth or it would have to find a way to take money out of circulation in order for the amount of money to equal the amount of gold. Is this true?
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Also be sure and check out Gold as Money: FAQ