WILL the inauguration of President Trump turn out to be a golden moment for the USA - literally?
There is speculation that Trump and his administration team are goldbugs and wish to return America to the gold standard of yesteryear. If they did, the UK and other developed economies would have no option but to follow suit.
If this were to happen, it would be a double-edged sword.
On the one hand it would underpin former fiat currencies with a universally-valued rare finite substance but on the other hand draw attention to currencies that have been inflated by quantitative easing and other central banks’ manipulations.
People would begin to understand how the pound in their pocket and savings have been substantially diminished by government-backed bankers pursuing neo-liberal growth at all costs - to the people.
The gold standard was good enough for currency stability last century but for this one we need to understand that there is both positive and negative production affecting the path to prosperity.
GDP, by assuming all production to be positive (even if it kills you) doesn’t take this into account, leading to inflated valuation of currencies.
We need to accurately measure money with a meaningful evaluation of what we do and make.
Geoff Naylor, Colden Common.
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