That’s the title of a note from ING’s chief international economist Rob Carnell on Monday. It had us worried. That is, until we remembered Betteridge’s Law of Headlines and skipped straight to the conclusion:
To wrap up, gold standards may have a long tradition in Europe and the US. But then we also used to send children up chimneys and burn witches. There is little to argue for a return to such practices today.
More on this is in the usual place.
A time of hoarding and inflation fears, 1930s edition – FT Alphaville
Golden Instability – Krugman
Golden Ferrets, I Mean Fetters – Krugman