Monday, November 29, 2010

Boom, Bust, and Gold

In his interview with the CNBC on November 9, 2010, a highly regarded Wall Street economist, Nouriel Roubini, the cofounder and chairman of Roubini Global Economics, said that a gold standard is unlikely to stabilize the financial system. On the contrary, holds Roubini, such a standard can only make things much worse.


On a gold standard, argues Roubini, the central bank will not be able to successfully counterbalance these tendencies. An economy on a gold standard would continue to reinforce the existing negative trends in the business cycle, he maintains."

Frank Shostak refutes all this and more here, at

Eric Sharp
Regular Columnist, THL
Articles | Author's Page