U.S. Elites Begin To Confront The Paper Dollar
By Ralph Benko
There is nowhere left to hide. America’s governing elites begin to internalize the magnitude of their failure to generate jobs. CBO now predicts worse than 8% unemploymentuntil 2014. America begins to engage, seriously, with the implications of the faltering dollar and reconsider the appeal of the gold standard. From The New Yorker to The National Interest to The Washington Monthlyto The Nixon Foundation, thoughts turn to gold.
The New Yorker’s August 29 Market Watch, by Talk of the Town deputy editor Nick Paumgarten, celebrated the 40th anniversary of the abandonment of gold and the experiment begun with the paper dollar standard. The tone? “Don’t let the door hit you, Paper Dollar, Jr., on the way out.”