Just like many financial conservatives have advised in the past, notably former Reps. Jack Kemp and Ron Paul,
Forbes said that economic prosperity can come only if the dollar is
linked to gold and not printed willy-nilly at inflated rates.
“The best way to achieve
monetary stability: linking the dollar to gold,” he wrote in the book
out today. “The Fed should have only two tasks: keeping the dollar fixed
to gold and dealing quickly and decisively with panics,” he wrote,
according to excerpts provided in advance to Secrets.
…
Among the economic problems Forbes blames on the Fed’s monetary policies:
— The U.S.’s weak economic recovery.
– Slower long-term growth and higher unemployment.
— High food and fuel prices.
— Declining mobility, greater inequality and the destruction of personal wealth.
— Increased volatility and currency crises.
— Larger government with higher debt.
— Lower levels of business innovation and entrepreneurship.
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