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Re: Russian Central Bank Buys Large 18.7 Tons Of Gold In January As Venezuela Launches â��Petro Goldâ�ï¿& 

By: capt_nemo in POPE IV | Recommend this post (2)
Fri, 23 Feb 18 9:06 AM | 56 view(s)
Boardmark this board | POPES NEW and Improved Real Board 		Msg. 44707 of 47202
(This msg. is a reply to 44705 by Decomposed)
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That would be Tricky Dick Nixon,,,,Right??


I guess so............

Since Nixon killed the gold standard, the unemployment rate has averaged over 6% and we have suffered the three worst recessions since the end of World War II. The unemployment rate averaged 8.5% in 1975, almost 10% in 1982, and has been above 8.8% for more than two years, with little evidence of any improvement ahead.
Nixon's Colossal Monetary Error: The Verdict 40 Years Later


http://www.forbes.com/sites/charleskadlec/2011/08/15/nixons-colossal-monetary-error-the-verdict-40-years-later/#188a602869f7




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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.


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The above is a reply to the following message:
Re: Russian Central Bank Buys Large 18.7 Tons Of Gold In January As Venezuela Launches �Petro Gold�
By: Decomposed in POPE IV
Fri, 23 Feb 18 9:03 AM 		Msg. 44705 of 47202

Nemo:

Re: “Venezuela is launching a new gold-backed cryptocurrency next week”

The United States had a gold backed currency - until it broke its promise and and went fiat.

Despite its history, I would trust the U.S. to keep its word before I would trust Venezuela.

And that's not saying much for the U.S.

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