From RollCall
''In an interview with China 2011 Economy, Zhou Qiren, Dean of Peking
University’s National School of Development, said that a global system
in which the values of currencies were pegged to gold would make “an
excellent monetary system.” He said “if the currency of each major
country is bound to gold, financial headaches would of course be reduced
... it would be impossible for [U.S. Federal Reserve Chairman Ben]
Bernanke to print 600 billion USD to purchase long-term debt ... (and)
the gold standard would effectively prevent each country’s government
from recklessly levying ‘inflation taxes’ domestically and passing
troubles to others by manipulating currency exchange internationally.''
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