|
|
Article: Golden rule: Alan Greenspan belongs to a long line of gold bugs. But he might do more to spread the faith.(Dances with Bulls)
- Article from:
- National Review
- Article date:
- April 21, 1997
- Author:
CopyrightCOPYRIGHT 1997 National Review, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
'GOLD is money, and nothing else." So J. P. Morgan testified before the House of Representatives' Pugo Committee (investigating the so-called money trusts) in 1913. A little more than forty years later, in 1945, Cambridge don John Maynard Keynes and U.S. Treasury official Harry Dexter White created a new world monetary system that was based on a steady dollar linked to gold at $35 per ounce, thereby ushering in a 25-year period of postwar Western prosperity. After Lyndon Johnson and Richard Nixon broke the Bretton Woods monetary discipline, leading to 15 years of stagflation, it was left to Ronald Reagan's advocacy of a gold-price rule (and tax cuts) that provided Paul ...
Related newspaper, magazine, and journal articles:
|
|
Article: The Once but Not Future Bretton Woods
The Washington Post;
September 25, 1994 ;
700+ words
... ... Economy - Fifty Years After Bretton Woods," Nye says: "The fact ... causation." In any event, the Bretton Woods system did not last 50 years ... ounce price link between gold and the dollar that the Bretton Woods conference established as ...
|
|