13 Apr 2009

I Tell the Indians to Adopt a Gold Standard

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I am quoted in this Times of India piece on the gold standard:

Robert Murphy, Adjunct Scholar at the Ludwig von Mises Institute in Alabama, USA, says, “A gold standard is essential today because it would force central banks to raise interest rates to their correct levels. In fact, it would work as a very good safety precaution, since it places a firm limit on how much inflation the central bank can create. Also, it’s an excellent option for emerging economies like India, since any country with 100% gold backing for its currency would see its own currency appreciating against others, and more capital would begin flowing there”.

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