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Friday, August 24, 2012

The Republicans Consider Returning To The Gold Standard

There IS going to be a return to the gold standard, but it wont be the republicans or any other political influence bringing it to fruition. The Bank for International Settlements, The central bank for central banks, Has issued policy called the Basel Accords. Basel 1 and 2 have already been implemented, which is where the “700 billion” dollar bailout came from. This was the amount needed to capitalize the banks that would continue to function under the terms of Basel 2. Now they are beginning Basel 3, Which will require more “bailouts” to further re-capitalize the fraudulent banks in anticipation for the consolidation (crash). Basel 3 will require a world currency backed by gold. The world is on to the games (derivatives) wall st plays. The gold standard will return and THIS will be the “new” global currency.

Mary Jo Jacobi fmr special assistant to Ronald Reagan, told CNBC, a lot of the party (Republican) faithful believe we should go back on the gold standard; it would control government spending and offer a sense of stability.

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