Saturday, June 7, 2008

THE GOLD STANDARD

Joe Battaglia, the host of  "The American Advisor" radio show, quoted the Wall Street Journal as saying, "Inflation is the thief of the thrifty middle class." In an article posted at Goldline.com, Mr. Battaglia says:

   "The worker is bearing the biggest brunt of the problems that are facing today's economy.  The Wall Street Journal comments on this fact by pointing out the actions taken by the Federal Reserve and treasury have served to create inflationary pressures, which  have been negative for middle income Americans.  As they said so eloquently, 'Inflation is  the thief of the thrifty middle class.' They further pointed out, 'In its attempt to help Wall Street and the financial system, Fed policy is punishing average Americans.'  These words ring true to every American who is struggling to make ends meet." (Goldline.com, May 7, 2008, Commentary) 

Mr. Battaglia, along with most sensible precious metals market analysts, advocates a return to the gold standard in this country, as do I. Inflation would be virtually non-existent.
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