Kostenlose Clips - Mandy Moore

A fine effort, but what about 5,000 years of gold being the wolrds primary currency up until 1971 when the U.S. broke its promise to the world in the 1944 Bretton Woods Agreement to keep the U.S. Dollar as good as gold through backing by gold bullion held in reserve at the U.S. Federal Reserve? Since that time, the U.S. Dollar has simply been a fiat currency with no real value, and since all other major currencies used to be pegged to the U.S. Dollar, now all other currencies in the world are also fiat currencies with no real value. The world has experienced more booms and busts in the past 38 years all due to the world now being run on currencies that float in an unstable manner with nothing of real, hard value backing them. Never before in human history have all the wolrds currencies floated freely against one another. Distortions are everywhere as a result, leading the human herd mentality toward ever more irrational exuberance more frequently. Malinvestment and economic crises can only ensue naturally in such an unstable monetary environment. To fix the global economy once and for all, the U.S. needs to bring back a form of the gold standard to the U.S. Dollar to correct the regretful mistake the US made back on August 15, 1971.