| From CNBC: A gold standard would just make business cycles more extreme, according economist Nouriel Roubini. What's more, a gold standard would make central banks unable to fight inflation or deflation, much less do anything to combat persistent unemployement, Roubini said in an interview with NetNet yesterday.
"A fixed exchange regime, even if it is not a gold standard... That world just doesn't work. Because in that world, monetary policy by definition instead of being countercyclical becomes procyclical," Roubini told NetNet. "Suppose you have a fixed exchange rate regime...It just exacerbates the business cycle.".............................................Full Article: Source
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