You are here

New York Sun: Is America on a gold standard?

Section: Daily Dispatches

From the New York Sun
Saturday, October 28, 2017

Has America been secretly on the gold standard?

We ask because as Janet Yellen nears the end of her term as chairman of the Federal Reserve, the value of a one-dollar Federal Reserve note is at 1,269th of an ounce of gold -- essentially identical to the 1,262nd of an ounce of gold at which it was valued on the day she acceded to the Fed chairmanship. Is that just a coincidence?

That is the question as President Trump wrestles with whether to nominate Mrs. Yellen to a second term or bring in someone else to chair our central bank. Federal Reserve scrip has roller-coastered somewhat during Mrs. Yellen's term. It has plunged below a 1,300th of an ounce of gold and clacked up to close to a thousandth of an ounce of gold. Generally, though, it has stayed within that band. ...

... For the remainder of the commentary:

http://www.nysun.com/editorials/is-america-on-a-gold-standard/90106/



ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

Mines and Money London
Business Design Centre
London, England, United Kingdom
Monday-Thursday, November 27-30, 2017
http://london.minesandmoney.com/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16