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Russia backs return to gold standard!
Submitted by ChrisS on Mon, 03/30/2009 - 15:27
Russia has become the first major country to call for a partial restoration of the Gold Standard to uphold discipline in the world financial system. http://www.telegraph.co.uk/finance/financetopics/g20-summit/... » |
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"Arkady Dvorkevich, the
"Arkady Dvorkevich, the Kremlin's chief economic adviser, said Russia would favour the inclusion of gold bullion in the basket-weighting of a new world currency based on Special Drawing Rights issued by the International Monetary Fund."
No thanks!
1971
The pseudo gold standard was abandoned.
Since that time, I would describe the economy as having been on one massive fiat push to implode the intermediate term for the benefit of immediate gratification.
The Baby Boom generation really is an interesting one to analyze.
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www.ponderthis.net
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Freedom - Peace - Prosperity