"Strange things are happening" as comedian George Gobel used to say. What I find strange is the recent announcement by Russian president Putin that he is putting the Russian ruble on the gold standard. This told me that at least in the field of economics, Mr Putin is more rational than anyone in our Federal Reserve system and our Treasury dept.
As far as his rationality in other contexts goes, like politics, or ethics, etc. I have my doubts. But I will say he is doing what our government should have done years ago and desperately needs to do now.
The US dollar is a fiat currency which means it is worth what it is because our government says so. It's a policy of make believe or lets pretend. Or else!
When we Americans allow the government to give us a fiat currency it's only a matter of time before government gives us fiat freedom, (government can do anything through regulations but we can't do anything with out permission of those regulators) fiat wealth, (lots of paper dollars with no purchasing power) fiat safety, (with reduced police you will still be safe because they will be caring police) fiat happiness, like "You will own nothing and you will be happy."
Happy? Really? According to what standard of happiness? I'd like to know. Whatever standard of happiness the new world order invents it will be them deciding its use not you and me.
The dollar needs to be put back on the gold and silver standard, ASAP.