Currency Wars: Why The United States Cannot Return To A Gold Standard
Interesting article on the U.S. returning to the gold standard.
Quote:
The book Currency Wars by James G. Rickards (Penguin, 2011) quickly became a bestseller not only in goldbug circles. One of the main theses presented by Rickards is that the United States ought to return to a Gold Standard. Have you ever wondered whether this would be possible? The answer is No. But why not? The reason we give might strike you as rather unexpected, but it leads you right into the question of what will be the future international monetary system. The answer is that it is the existence of the Euro that prevents the United States from returning to a gold standard. (More:
source)
I wonder if Rickards has any idea as to a potential tight relationship between the Euro and the U.S. dollar. Perhaps the reason U.S. dollars could be converted into gold outside the U.S. is because they knew U.S. gold was being held in Europe in Germany. The term "Eurodollar account" is a term that since the 1940s designated an account denominated in U.S. dollars but in a European bank account. As I've indicated years ago on other sites, the "Eurodollar" is not new. Shhhhhhh.
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