There have been many disparagers of the Federal Reserve and its control over the currency recently and there are also many Gold-Bugs in commodity land touting buying gold. I was wondering actually how any return to a non-fiat currency would take place. The US economy’s GDP released on Friday is approximately $14.872 billion according to the Bureau of Economic Analysis site. This was a sharp upward revision to a growth rate of 3.1 and knocked down commodity prices, including gold. Many of the Gold-Bug people decry the “fiat money” and the Federal Reserve, and would like to get rid of the Fed and return to a Gold Standard or a hard money standard. But, all the gold in Fort Knox, if allowed to underpin the dollar at current market values, would cover about 1.5% of the needs of the US economy. . . . → Read More: For all the gold in Fort Knox
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I felt the earth shake. I thought that it was an earthquake, There was a tendency, I don’t quite know how to say it, for the ground directly in front of my to move upward. I’ve been in earthquakes before and know what they feel like. But those had been inside, in my bed in California, or just a tremor, like a heavy . . . → Read More: The tremor The Guardian has an good opinion piece which cites the surprising support from environmentalists like George Monbiot and Stewart Brand for nuclear power even after Fukushima.They contend that nuclear is better than coal, and that makes it imperative to the future. But the Guardian points out, nuclear will not go anywhere without large government support because of the uncertainties . . . → Read More: The cost of nuclear – incalculable |
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