Jerome Powell Fails The Gold Standard Test | WHAT REALLY HAPPENED

Jerome Powell Fails The Gold Standard Test

In fact, if the dollar was backed by gold, the Fed would be irrelevant – the gold standard would take away completely need for a Central Bank. Powell and his cohorts would not have any job at the Fed.

The function of a gold standard is not to “stablize” the price of the currency which is backed by gold. Interest rates can be used to “stabilize” the value of currency. Free markets, if ever allowed, would set the price of money. The function of the gold standard, fist and foremost, is to stabilize the supply of currency in relation to the wealth output of an economic system.

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