By Hugo Salinas Price There is a lot of commentary going around the world, regarding Trump’s initiation of a “Trade War” to rebuild America’s industries. Trump thinks that tariffs will do the trick, and stop the rest of the world from taking unfair advantage of the US by selling their goods to the US in exchange for lots of US dollars. According to Trump, this nefarious behavior on the part of the rest of the world is causing a h-u-u-u-ge Trade Deficit, sending hundreds of billions of dollars out of the country. Trump’s view is that this is just plain “unfair”. I guess Trump is not familiar with what happened at Bretton Woods, back in 1945, when the US, as victor in WW II, forced the rest of the world to accept the US proposition: gold would be the world’s money, supplemented by dollars, which were to be regarded as good as gold – and perhaps they were, at the time, as good as gold, for the US had a stock of some 22,000 tons of gold at that time. But as time went o...
from GoldBroker.com https://www.goldbroker.com/news/only-substitute-for-the-dollar-will-have-be-gold-1275
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