From Forbes
By Steve Forbes
''A new gold standard is crucial. The disasters that the Federal Reserve
and other central banks are inflicting on us with their funny-money
policies are enormous and underappreciated. An unstable dollar is
wreaking havoc on our capital markets, depriving us of money for
productive enterprises and future enterprises while subsidizing
government debt on a scale never before seen in U.S. history. The
zero-interest-rate policy destroys capital by punishing savers and
enabling the central bank to allocate where capital goes. By definition
such central planning means subpar or negative returns. No one believes,
given the finances of the U.S. government, that a ten-year Treasury
bond should yield only 1.8%.''
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