Russia mentions partial gold standard

[bander87]

http://www.telegraph.co.uk/finance/f...al-crisis.html

They also mentioned a one world currency. Somewhat interesting.

[Athan]

Looks like Russia wants to be the new man in charge.
The US is to stupid to understand the importance of this.

I guess all of the US agencies have no real interest protecting America's interests.

[echebota]

I hope this would catch up. I don't know what result this would bring short term, but at least some policy makers abroad are trying to bring people back to reality. And yes, US plolititians don't care or too stupid to understand.

[Kraig]

I hope this would catch up. I don't know what result this would bring short term, but at least some policy makers abroad are trying to bring people back to reality. And yes, US plolititians don't care or too stupid to understand.

Oh they care quite a bit that's why they are going to attempt to create an "axis of evil" in the minds of the american people.

[yokna7]

the us could of saved its ass if it would have done exactly this. Bringing back BrettonWoods II

[Bern]

One world fiat currency (or basket of same) = terrible idea

One world hard currency = great idea

Russia's proposal likely does not go far enough to be considered a hard currency. If gold is lumped together with fiat currencies, there is room for central bankers to monkey with it's value.

[tmosley]

One world fiat currency (or basket of same) = terrible idea

One world hard currency = great idea

Russia's proposal likely does not go far enough to be considered a hard currency. If gold is lumped together with fiat currencies, there is room for central bankers to monkey with it's value.

Not so. If the currency starts out hard, but then they switch to fiat, or issue more currency than there is gold, etc, then it goes poof, and there are no other options save the metal itself (which would probably be illegal to own throughout the world by that point).

It's far better to have many currencies, and have competition between them. That is what has kept this whole fiat system from collapsing so far, though now that control is being centralized, those currencies are about to start falling like dominoes.

[Brian4Liberty]

there are no other options save the metal itself (which would probably be illegal to own throughout the world by that point).

Seems likely that a one-world currency would soon result in gold being made illegal...

[ktorp18]

A one world, gold backed currency already exists. www.e-gold.com

of course, the US government has already charged them with crimes.

[theoakman]

Bretton Woods was an utter failure. It was based on the idea that the US would not cheat and print money. The US cheated anyway and the system collapsed. A simple return to gold and silver as legal tender would solve all of our problems. If the world's central banks still want to fool around with fiat money, let them. If we allow gold and silver to float as legal tender in addition to the fiat money, it won't matter. The nation of America had several currencies flying around in it's initial stages and we managed to avoid catastrophe. Gold and silver were in circulation along with various paper currencies. Hell, we even had Tobacco legalized as a form of payment through various states. It's not about strictly have gold and silver. It's about freedom. Let the people choose what they accept their payment in. It just so happens that freedom of choice usually leads to the choice of real money, gold and silver.

[yoshimaroka]

I'm guessing this is either a pump and dump setup or they're bringing up currency, a world currency, as a talking point of msm propagandists.

From the article:

China's government has floated a variant of this idea, suggesting a currency based on 30 commodities along the lines of the "Bancor" proposed by John Maynard Keynes in 1944."