
Observing this statement one can concur that Chairman Bernanke is somewhat correct with this notion. If we can recall the year of 1976, we can see this is when the United States removed itself from the gold standard. This would set off a chain of reactions that would follow us to date. The government looked at the gold standard as a "golden shackle" to their spending's. To them (government) it looked as a evil but to the people it was looked as a blessing. The gold standard kept the government in its place and maintained a some what reasonable value of our dollar. Some may say that government needed to get off this standard because it was harming government's processes. Are they referring to the processes of starting unconstitutional wars? Funding destructive programs that hurt only the worker? Which one? The "golden shackle" was removed from government and the "debt shackle" was placed on the people.
The people are slowly but surely getting informed on history and so it may not repeat itself but also they are learning history to learn how to restore a great prospering country. Government must be taught a lesson in economics and that they can not make wealth out of thin air and to add to the insanity, have nothing backing it! In this time of economic decline people have to distinguish between the policies that got us into this mess and policies that will get us out of it. These upcoming years will be our chance in instituting sound-money policy so our future can have some actual backing. However, it is up to us to get informed and stay informed, no matter what age, race, or background because when it all adds up it is our future that is on the line.
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thanks and continue to read!