Would you be ready to go back on the gold standard?
2007-04-15 12:21:08 · 7 answers · asked by watermelon 2 in Business & Finance ➔ Other - Business & Finance
no gold standard for me. But the dollar only has worth because the government told us it has worth. I'm all for barter and trade though
2007-04-15 12:24:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The USD has been in decline since the current US President took office, and supported by the then Republican-controlled House, began a program of cutting taxes. This was further exasperated by US military adventures abroad. As with the Vietnam war, the current Iraq and Afghan military conflicts are sucking huge amounts of capital out of the US economy - capital which would normally be invested in creating growth (and jobs). At the same time US consumers have continued to spend more than they earn or save, leading to a diminished confidence in the USA's ability to repay foreign debt (currently in the Trillions)...
There is no need to return to the gold standard. Rather the continuing increase in the price of gold in USD simply reflects the decline of the US currency. Sell US dollars and buy Gold (or gold backed currencies).
2007-04-15 23:00:09 · answer #2 · answered by Hokonui Software 2 · 0⤊ 0⤋
Everytime I withdraw from my USA bank account here in Spain, I realize it. I get 300€ for $400 of my US dollars. Ouch!
2007-04-15 19:25:34 · answer #3 · answered by julesjuggalette 2 · 0⤊ 0⤋
I don't know if it is collapsing, but it would sure be nice for our Canadian $$$ to go up!!
2007-04-15 19:25:07 · answer #4 · answered by Lori F 6 · 0⤊ 0⤋
collapsing? ha... yeah. thatll happen.
2007-04-15 19:24:10 · answer #5 · answered by Anonymous · 0⤊ 0⤋
and this happened while the israeli shekel is rising.. its great
2007-04-15 19:25:59 · answer #6 · answered by Boaz 1 · 0⤊ 0⤋
me no no
2007-04-15 19:23:43 · answer #7 · answered by joshua g 3 · 0⤊ 0⤋