punk slime ALL OF THE time
by Glen Maganzini
Bernanke: I guess you’re a gold standard supporter?
Paul: I’m for the constitution.
Filed under Culture Jamming, economics, Politics, rant
Tagged with ben bernanke, Congress, federal reserve, Financial Services Hearing, Gold Standard, Monetary Policy, ron paul
The system is called Chartalism and it’s not being adequately exploited. Chartalism is infinitely superior to the gold standard. Its based on a more realistic examination of why something becomes money than has been assumed in the past. The gold standard saw massive deflationary and inflationary swings, including such things as the Depression of 1920. The EU is under a de-facto gold standard and the results are massive deflation in Ireland and Spain with Ireland’s economy losing 20% of its value.
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