A Must Read From Breitbart ….. Gold Standard Revisited!


Now, I don’t 100% agree with what was put out in the article, but, it’s a very worthwhile read. 


Jackson Hole —  The Jackson Hole Summit by the American Principle’s Project (APP) for sound money made an excellent case that the country would have been better off without the Fed’s style of management for the last 102 years.

From its founding until the beginning of the 20th century, the United States went from a non-economy to being the world’s largest and wealthiest economy. It achieved this feat on the gold standard mostly, with no central bank, (except for 36 years), and with little or no central planning.

The country it replaced as the largest and wealthiest economy, Great Britain, had become the largest and wealthiest economy using the gold standard and a laisse faire Central Bank with no central planning. The book Lords of Finance the Bank of England “was run ljke a club” with the rotating directors  who did little but let the gold do its work. Kwasi Kwarteng conference speaker, British MP, and author of the new book War and Gold, commented that between 1816 and 1899 the UK government ran a deficit in excess of 1% of GNP and in only four years.  During this time the UK was very disciplined in both fiscal and current account deficits.

The two countries succeeded through innovation and hard work during the industrial depending upon the stability of their economies provided by the gold standard, not the temporary steroid induced temporary magic and monetary policy and the sleight of hand of Fed Speak. …..

I can’t possibly go through everything stated in the article.  But, it’s a good read. 


Now, I’m not big on income disparity, and have stated it many times in the past.  But, isn’t it ironic that the people who cry about it are the very same people who advocate the unfettered printing of fiat money, ….. which is the cause of the income growth disparity?  More specific, and laughable ….. as I stated several times in the past, the QE didn’t go to poor people.  It went to rich people, in hopes that it would stimulate them to create jobs.  The advocates for this idiocy are the same people who deride Reagan’s economics as “trickle down”. 

Of course, the problem today, and the problem which caused the 08-09 recession wasn’t that people didn’t have access to capital.  Indeed, it was one of the main problems in the US!   But, the Fed fixed us by creating more capital out of thin air!  😐   Yeh, we need the Fed like we need another Obama term. 

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19 Responses to A Must Read From Breitbart ….. Gold Standard Revisited!

  1. omanuel says:

    The story of the destruction of our government can be told now that the 2009 Climategate emails have finally led us to the unmitigated arrogant selfishness (hubris) of world leaders and the scientists they fund,


    The $64,000 question is just this: “Can society be returned to sanity (contact with REALITY: Every atom, life and planet in the solar system is sustained by NEUTRON REPULSION in the Sun’s pulsar core – an EMPIRICAL FACT world leaders and government scientists HID FROM THE PUBLIC for 70 years) without undergoing a crash landing of the world’s entire economic and social order?

  2. Latitude says:

    I need help with this one…..

    John Kerry: Israel Will Be Safer Under Iran Nuclear Deal


    …immediately followed by

    ARMS RACE: Kerry Promises Billions in Weaponry to Israel, Saudis in Wake of Nuke Deal…


    • suyts says:

      Yeh …. it’s kinda like we’re encouraging conflict and such.

      • Latitude says:

        but he totally contradicted himself….back to back….on the same day

        • suyts says:

          Yes, he did. But, the leftards don’t care. They lie with impunity.

        • Jim Masterson says:

          . . . the leftards don’t care. They lie with impunity.

          Isn’t that amazing? No one cares if they lie or are caught lying.


        • DirkH says:

          Well we care.
          While we are given no voice, the lying system loses all trust. This creates the confidence crisis that will make the system collapse.
          Nothing to do with armed uprisings or anything. Which are usually just disguised attacks by a competing system.

  3. Lars P. says:

    Thank you, I think it is a very interesting and important subject which is not enough talked about…. The only real debate about it I saw happening was in Iceland.
    I think this very much links also to the fractional reserve banking idea= i.e. printing money out of thin air through the banks which leads to next step making debt=money.

  4. Bruce of Newcastle says:

    I prefer a tungsten standard on the principle that you can fake gold using tungsten but no one’d ever bother to fake tungsten using gold.

  5. DirkH says:

    Draghi puff reversed.
    (Yesterday he announced the ECB QE which goes on to the tune of 50 bn a month since JAN 2015, will buy more stocks. DAX screamed up; now back again to pre-puff prices. Meaning… credit doesn’t buy it… No credit growth, no defense against deflationary shock)

    • DirkH says:

      …and man, I only now noticed the ECB does QE since JAN. NOT*A*WORD*IN*THE*EU*LÜGENPRESSE*FOR*8*EFFIN*MONTHS.

      • Lars P. says:

        50 bn a month since JAN 2015 must be some 400-450 bn by now. I think there was a post at ZH that it will go to 33% stocks, the rest bonds, and all goes actually to “big players” enabling them to sell now at the peak of the bubble – or did I understood this wrong?

        • DirkH says:

          No you’re right. As with the BOJ, or the Fed , the ECB declares itself to be the Bagholder Of Last Resort. They buy high and will sell low. (If they can ever sell at all)

        • DirkH says:

          As to the amount, Draghi has promised at least a billion total. I mean everything less is chickensh*t these days.

  6. Lars P. says:

    “Draghi has promised at least a billion total.”
    …. our billion is their trillion – on the other side of the big water.

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