Saturday Book Review: The True Gold Standard by Lewis Lehrman

by wisdomhunt

From the title, it isn’t obvious what this book is about. I was duped into reading it.

Here is an excerpt:

Gold is real money. Blah blah blah. Federal Reserve.

In my opinion, a gold standard is an almost comically (and cosmically) bad idea.

But don’t take my word for it. None other than Nobel Prize-winning Princeton economics professor and New York Times columnist Paul Krugman says:

The truth is that returning to gold is an almost comically (and cosmically) bad idea.

I couldn’t have said it better myself.

The other truth is that the gold standard was responsible for the Great Depression. It had nothing to do with:

1929 was made inevitable by the vast bank credit expansion throughout the Western world during the 1920s: A policy deliberately adopted by the Western governments, and most importantly by the Federal Reserve System in the United States. It was made possible by the failure of the Western world to return to a genuine gold standard after World War I, and thus allowing more room for inflationary policies by government.

We’ve got enough problems trying to escape from the Bush-caused recession of 2008. We don’t need another Great Depression, Lehrman, so don’t waste your $0.00 (for Amazon prime members) on this book. Use it to stimulate the economy by donating it to your favorite politician.

Just suffice it to say that you should trust politicians, Krugman and the Federal Reserve. Paper and digits in bank computers are money, not gold.

I’ll have more on this topic tomorrow in my weekly Sunday School post.