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Monday, March 30, 2009

Russia Backs Return to Gold Standard to Solve Financial Crisis

Genius. Having money backed by something of actual value, what a concept! Notice in the article how it says that the gold standard failed only when countries spent beyond their means. Perhaps that would be a good limiter on government spending. Now it does say that Russia backs a gold standard for the in global currency, which I am not for, but the notion of bringing back the gold standard is appealing.

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