By Dr Jeff Lewis
Remonetizing Precious Metals
''Many people concerned over the global trend toward the use of uncollateralized paper currency in commerce, have called for a return to a gold or silver standard in order to provide some hard currency backing for the ever growing supply of paper money being issued by governments.
Nevertheless, in order for precious metals like silver and gold to become "re-monetized", the price would need to rise exponentially relative to paper currency like the U.S. Dollar and the Euro to back all the money printed over the last 40 years since then-U.S. President Richard Nixon shocked the world by unilaterally removing the U.S. Dollar from the gold standard by ending its convertibility.
This traumatic move lead to the eventual demise of the post-WWII Bretton Woods fixed currency exchange rate system, of which the Dollar was the lynchpin, and ushered in the current era of floating exchange rates.''
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