http://www.cheatseekingmissiles.com/2009/03/23/the-critiques-are-in-geithner-bombs/ Wed, 02 Mar 2011 15:16:07 +0000 hourly 1 http://wordpress.org/?v=3.3 http://www.cheatseekingmissiles.com/2009/03/23/the-critiques-are-in-geithner-bombs/comment-page-1/#comment-2627 J. Ewing Mon, 23 Mar 2009 19:47:29 +0000 http://www.cheatseekingmissiles.com/?p=6593#comment-2627 Obama's financial solutions are going to be the death of the economy, unless his political capital runs out first (that's a change I hope for).  But going to the gold standard doesn't sound like the right idea.  I, for one, would be exceptionally happy to buy gold at $500 and ounce and turn right around to sell it at $900 an ounce.   I mean, I'm no financial genius, but I think I could turn a profit doing that. A far simpler solution would simply be to do as Germany did long ago-- disassociate the printing of money from the auction of treasury bills.  If the government wants to borrow money, they have to find somebody willing to lend it, and have to pay whatever interest rate is demanded.   They can't just print up more money to lend to themselves.  Simple, clean, effective. Obama’s financial solutions are going to be the death of the economy, unless his political capital runs out first (that’s a change I hope for).  But going to the gold standard doesn’t sound like the right idea.  I, for one, would be exceptionally happy to buy gold at $500 and ounce and turn right around to sell it at $900 an ounce.   I mean, I’m no financial genius, but I think I could turn a profit doing that.
A far simpler solution would simply be to do as Germany did long ago– disassociate the printing of money from the auction of treasury bills.  If the government wants to borrow money, they have to find somebody willing to lend it, and have to pay whatever interest rate is demanded.   They can’t just print up more money to lend to themselves.  Simple, clean, effective.

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