[Swiftwater Gazette] Excerpts from Interview of Steve Forbes Jan 2016
kroposki at att.net
Mon Feb 1 06:34:13 EST 2016
Excerptsfrom Interview of Steve Forbes byMichael Gleasonhttp://econintersect.com/pages/metals/metals.php?post=201601292109......Oneof the things that really most of the economics profession doesn'tseem to get is that money is simply a means for us to buy and sellwith each other.
Moneymeasures value the way scales measure weight or clocks measure timeor rulers measure space and length, and it works best when it'sstable.
Goldis like a ruler. It has a stable value. When you see the pricefluctuate, that means that it's the dollar's value that'sfluctuating, people's feeling about it for the present and for thefuture. But gold is like Polaris. It's the North Star. It's fixed.
Goldis the best way to fix ... value.
JanetYellen, the head of the Federal Reserve, says that we should have twopercent inflation, which in her mind is seeing the prices rising twopercent a year. If you take a typical American family making fiftythousand bucks a year, that means their costs would go up a thousanddollars a year, two percent of fifty thousand. Who gave her theauthority to raise the cost of living, which is an effective tax, athousand dollars on a typical American family? Yet Congress, theyjust nod their heads. It's a travesty.
… goldis a ruler. Because it's got that fixed value, it makes sure that thepoliticians don't muck around with the integrity of the U.S. dollar.
Since[U. S. went off gold standard in 1970] we've had more financialcrises, more dangerous banking crises, lower economic growth, and wesee the stagnation that we have today. So maybe the Russians will getit, maybe the Chinese will get it, but the reason we have this bookReviving America, is to help activist citizens have the tools theyneed to push and get integrity back to the U.S. dollar, get rid ofthis horrific tax code, and get patients in charge of healthcareagain. We do those things and you'll see the American economy willroar off like a rocket. You should have your gold as that insurancepolicy and life will be good again.
Don'tlose faith. Markets are people, and people thrive most when they arefree.
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