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Gold Standard Requirements and Currency Crisis

by Jim Willie CB, GoldenJackass.com
Gold Seek

The United States has three requirements in returning to the Gold Standard. They will be extremely difficult to achieve. They each serve as essential requirements in a criterion. All three are urgently needed. The challenge is formidable for the nation to remain as a leading player in the global economy. The United States stands alone in volume of national debt. Many place the blame on the social net like welfare, Social Security, and other measures. However, the biggest element is clearly the military budget, hardly for defense in the last two decades. As CEO Jack Ma of Alibaba stated so succinctly, the USGovt has spent $25 trillion on the military with nothing to show for it except decayed infra-structure and global animosity for its aggression. A major item in recent years for the deficits has been Medicare, which is full of fraud and waste. Another major item is the raft of pensions like for government service, judicial service, and military service.

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