April 3, 2012 § Leave a comment
On March 23, 2012, I noticed that Jeff Rense’s site had linked to the mass media article by Reuters, Bernanke says gold standard won’t solve problems, with the editorial title, Bernanke’s Idiotic Lies About A Gold Standard. It is still there as of April 1.
Here’s all the article says about Bernanke referencing the gold standard:
“Since the gold standard determines the money supply, there is not much scope for the central bank to use monetary policy to stabilize the economy,” Bernanke said. “Under a gold standard, typically the money supply goes up and interest rates go down in a period of strong economic activity – so that’s the reverse of what a central bank would normally do today.“
First of all, a government-guaranteed gold standard — which is what Bernanke is referring to — DOES determine the money supply, since a certain percentage of the…
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