Startling op-ed editorial from the Wall Street Journal... not exactly a journalistic haven for "gold bug" crackpots. Seeing is believing, however:
...[T]he present crisis in the West will ultimately end up discrediting mechanical monetarism -- and with it the fiat paper-money system in general -- as the U.S. paper-dollar standard, in place since Richard Nixon broke the link with gold in 1971, finally disintegrates.Read the full article here:
The catalyst will be foreign creditors fleeing the dollar for gold. That will in turn lead to global recognition of the need for a vastly more disciplined global financial system and one where gold, the "barbarous relic" scorned by most modern central bankers, may well play a part.
• The Fed Is Out of Ammunition
Got your gold yet?
