Strike Three for the Federal Reserve

"No batter always gets on base but America, nay the world, has a high-quality pinch hitter that it benched a century ago: the Gold Standard. It’s not perfect but it is far better, and fairer, than the Fed. Returning to gold, or some other commodity standard, need not be scary." - Robert E. Wright

- rest of article at Strike Three for the Federal Reserve | AIER

 

One of the worst things ever done economically in the history of the United States was the passage of the Federal Reserve Act in 1913. If you doubt that, just look at what has happened to the purchasing value of the U.S. dollar in the 109 years since it was passed.

As far as the gold standard, it most certainly could - and should - be re-established. I hold not no hope that the politicians and the Federal Reserve will ever - willingly - re-establish it. But if things go into hyper-inflation like has happened elsewhere in the world, you never can tell.

This is a great book on the subject of the gold standard, and free to read - Gold: The Monetary Polaris GTMP-ed4-eBook-1.pdf (newworldeconomics.com)

 

@JonC By the way, I am quite aware that only me and few other people actually care about the gold standard nowadays. What can I say? I am an old man and I yell at clouds.