Federal Gold Must Be Employed Productively

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date: 11/13/1981 12:00:00 AM
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· , Federal Gold Must be Employed Productively
It is futile to discuss th~ return to a gold standard or the
use of gold in our monetary system as long as the federal govern-
ment slIffers larqe budgetary deficits. The government needs an
elastic paper standard that can be stretched to finance some $60
billion of reqular deficits, another $30 billion of off-budget
deficits, and another $60 billion of new direct loan obligations,
for a total federal sector deficit of more than $150 billi...

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Hans F. Sennholz

Nov 13, 1981

1309-Federal Gold Must Be Employed Productively.pdf