Friday, August 19, 2011

Are the 1930s Back?

A frightening parallel in, hereespecially regarding a comparison of the return to the gold standard (then) and the creation of the euro (now).

It is time to remember a forgotten lesson of the Great Depression. How to get out of it: (a) drop out of the gold standard, and (b) devaluate your currency by an adequate monetary policy.

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