Thursday, March 03, 2011

Gold: America’s Secret $365 Billion Asset

Federal Reserve Bank Image
 On Tuesday, word came that President Obama is set to propose setting up a board to look at whether the U.S. can sell off some of its real estate holdings, a move that might raise some $15 billion.

But they're missing a big source. To quote the Seinfeld character Kenny Bania: "That's gold, Jerry. Gold!"

For a good chunk of its modern history, the U.S. was on the gold standard. That meant . . .

Full story at: Yahoo News

No comments: