That Horrible Gold Standard!

January 7, 2008

Notes Lew Rockwell:

Great to hear Ron explain the increasing price of oil as being due to the depreciation of the dollar by the Federal Reserve, and a warmongering policy in the Middle East. He notes that oil was $27 a barrel when Bush went to war to protect “our” oil. He mentioned a WSJ chart that shows that oil is up 350% in terms of dollars, 200% in terms of the Euro, and flat in terms of gold. Funny to see Fred stunned by truth. A dollar as good as gold. It seems like science fiction, but it is possible. Indeed, it is essential, if we want to avoid banana republic standards.

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