Common Sense

PERHAPS the sentiments contained in the following pages, are not yet sufficiently fashionable to procure them general favor; a long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defence of custom. But the tumult soon subsides. Time makes more converts than reason. -Thomas Paine (1737-1809). Common Sense, 1776

Thursday, February 02, 2012

A Golden Future??

In a commentary published in Monday's Financial Times, World Bank President Robert Zoellick wrote that an updated gold standard could help retool the world economy amid tensions over currencies and the United States' monetary policy... --World Bank chief calls on G-20 to reconsider gold standard | Business | Deutsche Welle | 08.11.2010

NEWYORK (CNNMoney) -- A growing number of states are seeking shiny new currencies made of silver and gold. Worried that the Federal Reserve and the U.S. dollar are on the brink of collapse, lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South Carolina and Georgia, are
seeking approval from their state governments to either issue their own alternative currency or explore it as an option.... --States consider alternative currencies of gold and silver - Feb. 3, 2012
--Gingrich: U.S. should look at return to gold standard, - Jan. 18, 2012
India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar... sources expect China to follow suit. India and China take about one million barrels per day, or 40 percent of Iran's total exports of 2.5 million bpd. Both are superpowers in terms of gold assets. India to pay gold instead of dollars for Iranian oil. Oil and gold markets stunned


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