Wednesday, November 26, 2008

Gold doesn't glitter, yet - Diane Francis, National Post

One estimate by a banker is that US money supply growth in the past few months has leaped by 111%. In the early 1930s, only 15% in money supply growth occurred.

Here is the WSJ piece by former vice president of the Federal Reserve Bank of Dallas, Gerald P. Driscoll about a gold standard:“The economy now confronts deflationary forces. If past is prologue the Fed will concentrate on those deflationary forces for too long and rekindle an asset boom of some kind.

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