stable gold backed currency which is proven to give growth and removes inflation

 Watch this video as to why even USA abandon's a stable gold backed currency which is proven to give growth and removes inflation.

The reason is simple, to protect the rich. Which are the employers and property owners. With inflation, i.e. reduction in the value of currency, salaries of workers drop. It took a lot of efforts and so many excuses to get workers salaries up to date with inflation. For example, Malaysia vs Brunei and Singapore. Workers salaries used to be the same but due to devaluations of Malaysian RM, workers salaries is Malaysia is now only 20% of Singapore and Brunei and getting worse and worse, on the way to Venezuela.

Actually, I just came to know how Venezuela survived, by using US dollars, not local currencies. But local businessmen do not like it. Read the article. The same happened to Zimbabwe. Zimbabweans do not use local currencies in their daily activities. The workers are paid in foreign currencies.

Many economists complained about corruptions and other blatant illegal activities carried out in Malaysia for all Malaysian problems but actually, it is due to one simple problem. Devaluations of the Malaysian currency. Solve this, then you solve everything. Even brain drain.

The problem is that Malaysians are not interested in solving this problem. Prefer to migrate or enjoy their incomes in developed nations with stronger currencies. They use Malaysia to exploit the workers and its resources only. The Malaysian citizens are happy to be exploited because they believe in the lies and false promises of the rich and criminals like Najib.

https://youtu.be/4kUSaoXKM4g

  the federal reserve says its actions on

0:02

wednesday show it is now serious about

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fighting inflation trouble is it won't

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use the best weapon possible gold

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[Music]

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i'm steve forbes and this is what's

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ahead where you get the insights you

0:16

need to better navigate these turbulent

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times to no one's surprise the federal

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reserve raised its benchmark interest

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rate by one-half of one percent

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it also said it would start selling

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bonds from its bloated portfolio to

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remove some of the excessive unnecessary

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money was creating until recently money

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that helped fuel the inflation

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afflicting us today

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but our central bank wouldn't even

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consider unleashing the most formidable

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reliable time-tested tool to keep the

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dollar stable in value a gold standard

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with few interruptions the us was on a

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gold standard from the 1790s until the

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early 1970s

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during that period we experienced the

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greatest economic growth of any nation

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in history

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the post-world war ii bretton woods

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international monetary system fixed the

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dollar's value to gold at 35 dollars an

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ounce

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if the greenback started to rise above

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that level thereby indicating too many

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dollars were being created which would

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set off inflation washington was

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expected to take immediate remedial

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measures the system worked from the late

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1940s to the end of the 1960s the us's

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average annual growth rate was 4.2

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percent

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then for fallacious economic and

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political reasons the u.s blew up this

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gold standard in the early 1970s the

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average growth rate since then has

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averaged 2.7 percent that doesn't sound

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like much but that lower growth

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compounded over 50 years has been

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devastating if we'd maintained our

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historic rate of expansion america's

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median household income now about 67 000

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would be one hundred thousand to one

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hundred and ten thousand dollars ponder

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that imagine having an extra forty

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thousand dollars of income

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an economy works best when the currency

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is stable in value it stands to reason

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investing long term is risky but you get

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less of this productive activity when

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the dollars you get paid back will

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likely have lost value

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your real gain if there is one is much

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smaller

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in the late 1980s and much of the 1990s

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federal reserve chair alan greenspan

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said he tried to keep the dollar loosely

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tied to gold which was critical for the

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so-called great moderation a period of

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stable money and economic vitality

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why gold for a variety of reasons it has

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kept its intrinsic value better than

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anything else in this world for four

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thousand years it is similar to a

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yardstick when you see the price

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fluctuate it is the dollar that is

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changing value not the yellow metals

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unfortunately the whole subject of gold

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is now taboo among policy makers and

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almost all economists one cannot even

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bring the subject up it's the economic

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version of cancer culture

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too bad a gold standard is not perfect

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but long

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has shown it is better than anything

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else i'm steve forbes thanks for

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listening do send in your comments and

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suggestions i look forward to being with

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you soon again

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