Failed it did. But perhaps it was for the best.
The big banks and governments don’t want the Swiss people to reback their money 20% with gold. What does that tell you?
Gold is real money. Paper is not. Gold doesn’t rise and fall in price (generally). Paper becomes more or less valuable relative to gold. This concept is lost on the general public. It is not lost on the bankers and the folks in government.
The establishment fears gold money. It reins in their power. Thus the reason they fight gold so ardently and why they are fighting it online and in newspapers today.
It is an idea that is popular in at least 4 states.
It won’t happen tomorrow but slowly but surely the world is moving from dollars. The petrodollar system which has been key to the world economy over the last 40 years is eroding. More and more country to country deals are being done in currencies other than the dollar. The economic world as we have known it, after Bretton Woods in the Cold War Era, the post Cold War era, and the post 9-11 era is fundamentally shifting. The dollar is not what it once was. It is no longer “almighty” and one should be prepared.
What can I say? The guy is right. He’s right almost all of the time, and on this point he is especially right.
It’s not just Greenspan, suddenly it’s respectable to come out against the Federal Reserve. The attached article is a case in point.
The consumer is feeling renewed stress. Gas prices are up. Food prices are up. But incomes are stagnant or down generally.
Gold, God’s money. The only thing every person in the world wants, and every government.
“The problem is the fiat world should end as well then.” – Rick Santelli