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Interresting News re: gold standards


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http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8638644/Return-of-the-Gold-Standard-as-world-order-unravels.html

 

 

Don't know how many here are following all of this, but this is kinda ominous.

 

This is the same pattern that you can see in the late Western Roman Empire - except that it is happening faster now. As the silver denarius was debased and inflation started becoming an issue, those who could started trading in the silver Roman currency (denarius) for either the Roman gold coins (aureus) or just gold in general.

 

Not only are we debasing the dollar here in the US, the EU and China have all been doing the same. So - the implications could be worse - there were places on the outside of the Empire- even North Africa and the Eastern part of the Empire that were not as economically tied - that held up much better. But now- we're all so connected.

 

Thoughts?

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Reminds me of the "wheelbarrows full of paper money" stories that my highschool english lit. teacher used to tell us. He was an older man, a phd and had lived all over the world with his missionary parents and had seen some of that kind of inflation first hand. I have been beating the inflation band wagon with my kids and family for a few years now (long before the current president). Really, when a loaf of bread costs nearly $5 there is more than increased value/cost of production going on. It is frightening and frustrating. Just keep printing, just keep printing - what do we do? we print, print, print (money, that is).

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Reminds me of the "wheelbarrows full of paper money" stories that my highschool english lit. teacher used to tell us. He was an older man, a phd and had lived all over the world with his missionary parents and had seen some of that kind of inflation first hand. I have been beating the inflation band wagon with my kids and family for a few years now (long before the current president). Really, when a loaf of bread costs nearly $5 there is more than increased value/cost of production going on. It is frightening and frustrating. Just keep printing, just keep printing - what do we do? we print, print, print (money, that is).

 

That was the Weimar Republic. A wheelbarrow of paper money for a loaf of bread.

 

 

a

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