Apr 10, 2007

Jason Hommel: How to Fix Gold Price Fixing

by Jason Hommel, April 9, 2007

"The world monetary system is in serious trouble, and the main problem is that nobody who is in power seems to know how to fix it. This is the theme of an article at lemetropolecafe.com called "The Road to Roota or The Implementation of the Gold Standard." (You can read the article if you signup for a free two-week trial at lemetropolecafe.com, which I strongly suggest that you do.)

The Fed tried to work on a cure for the monetary system in 1981. See "All That Talk About Gold", from October, 1981.

It was thought, at the time, that the biggest difficulty was to determine the fixed, set dollar price, for gold and silver, and nobody could agree.

President Reagan decided to continue to let the market decide, and let the dollar "float", and it has been sinking ever since.

Five years later, in 1986, the president's commission came up with issuing gold and silver Eagles.

But they printed the term "$50" on Gold Eagles, and "$1" on Silver Eagles. Most everyone who has ever looked at one of these coins, which are worth about $700 and $15 today, will ask, "Why did they do that?"

Click HERE for the rest of the article...

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