Золото: Экономическая платформа республиканской партии США предусматривает возможность возврата к золотому стандарту

С 27 по 31 августа во Флориде пройдет партийная конференция республиканской партии. В качестве  идей экономической платформы республиканской партии США будут рассматриваться: аудит монетарной политики Федрезерва и возможность возврата привязки доллара к золоту. Официально, этот факт подтвердила конгрессмен от штата Тенесси, Марша Блекберн, которая давала интервью телеканалу CNBC. Если идея возврата к золотому стандарту получит поддержку от большинства делегатов конференции, можно будет говорить о том, что продвижение этой идеи станет «коньком» будущей экономической политики республиканских кандидатов в президенты. Пункт о возвращении привязки курса доллара к золоту должен быть включен в официальную программу кандидата в президенты Митта Ромни. После этого возобновит свою работу так называемая «Золотая комиссия» которая была создана еще в 80- е годы при правлении Рейгана. 




Про конференцию республиканцев и золото
The gold standard has returned to mainstream U.S. politics for the first time in 30 years, with a “gold commission” set to become part of official Republican party policy. Drafts of the party platform, which it will adopt at a convention in Tampa Bay, Florida, next week, call for an audit of Federal Reserve monetary policy and a commission to look at restoring the link between the dollar and gold. The move shows how five years of easy monetary policy — and the efforts of congressman Ron Paul — have made the once-fringe idea of returning to gold-as-money a legitimate part of Republican debate. Marsha Blackburn, a Republican congresswoman from Tennessee and co-chair of the platform committee, said the issues were not adopted merely to placate Paul and the delegates that he picked up during his campaign for the party’s nomination. “These were adopted because they are things that Republicans agree on,” Blackburn told the Financial Times. “The House recently passed a bill on this, and this is something that we think needs to be done.” The proposal is reminiscent of the Gold Commission created by former president Ronald Reagan in 1981, 10 years after Richard Nixon broke the link between gold and the dollar during the 1971 oil crisis. That commission ultimately supported the status quo. “There is a growing recognition within the Republican party and in America more generally that we’re not going to be able to print our way to prosperity,” said Sean Fieler, chairman of the American Principles Project, a conservative group that has pushed for a return to the gold standard. A commission would have no power except to make recommendations, but Fieler said it would provide a chance to educate politicians and the public about the merits of a return to gold. “We’re not going to go from a standing start to the gold standard,” he said. The Republican platform in 1980 referred to “restoration of a dependable monetary standard," while the 1984 platform said that “the gold standard may be a useful mechanism”. More recent platforms did not mention it. Any commission on a return to the gold standard would have to address a host of theoretical, empirical and practical issues. Inflation has remained under control in recent years, despite claims that expansion of the Fed’s balance sheet would lead to runaway price rises, while gold has been highly volatile. The price of the metal is up by more than 500 per cent in dollar terms over the past decade. A return to a fixed money supply would also remove the central bank’s ability to offset demand shocks by varying interest rates. That could mean a more volatile economy and higher average unemployment over time.

 

Комментарии (6)

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Wall Street Journal добыл переписку Председателя Бернанке с конгрессменом от республиканцев, в которой глава ФРС вроде бы защищает свою политику и намекает на возможность новых действий в рамках стимулирования в интересах экономики.  



Federal Reserve Chairman Ben Bernanke, in a letter responding to questions posed by U.S. Rep. Darrell Issa (R., Calif.), chairman of the House oversight committee, defended actions the Fed has taken to support the economy and said there is room for the Fed to do more. «There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery,» Mr. Bernanke wrote in a letter dated Aug. 22, a copy of which was obtained by The Wall Street Journal. The Fed's «Operation Twist» program—buying long-term Treasury bonds and selling short-term securities—is still «working its way through the economic system,» Mr. Bernanke said. The program was first launched in September 2011 and in June 2012 was extended through the end of this year. Asked by Mr. Issa if it were premature to consider additional monetary moves, Mr. Bernanke said that «because monetary policy actions operate with a lag,» the Fed must make policy «in light of a forecast of the future performance of the economy.» The Fed chairman also said that the Fed's bond-buying of recent years has «helped to promote a stronger recovery than otherwise would have occurred, and to forestall the possibility of a slide into deflation…by putting downward pressure on longer-term interest rates and contributing to broader easing in financial conditions.» The written comments echo remarks that Mr. Bernanke has made to lawmakers and the media. They are notable, in part, because Mr. Bernanke is to deliver a highly anticipated speech on Aug. 31 at a Fed conference in Jackson Hole, Wyo., in which he could send clearer signals about what new steps the Fed might take. Minutes of the Fed's July 31-Aug. 1 meeting, released this week, showed the Fed leaning strongly toward actions that could include a new round of bond buying, guidance that interest rates will stay low for even longer than previously thought, or other measures. The Fed next meets Sept. 12 and 13. In an Aug. 1 letter to the Fed chairman, Mr. Issa raised several issues. «Of particular concern to me is the persistent drumbeat of highly reputed academics, former government executives, and market participants, who express grave concern with regard to the actions of the Federal Reserve, its apparent use of monetary policy to generate short term solutions, and the resulting risky balance sheet that weakens the Federal Reserve's ability to withstand the next financial crisis.» In reply, Mr. Bernanke sought to allay concerns about potentially damaging consequences of the steps it has taken to date. The Fed, he said, is «keenly attuned to the risks of inflation.» He also sought to play down worries that long-term interest rates, now very low, will shoot higher down the road when the Fed does one day start to reduce the size of its bond holdings. The Fed, he said, «will normalize the size of its balance sheet through gradual pre-announced sales in order to ensure that markets have an appropriate amount of time to make adjustments.» The Fed has held off on new action, in part, because officials wanted to see how markets and the economy responded to Operation Twist. One of several options on the table for the Fed's September meeting is for the central bank to replace Operation Twist with an outright bond-buying program.
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Название доклада Председателя Федрезерва Бернанке на симпозиуме в Джексон-Холле 31 августа, озаглавлено «Монетарная политика ФРС с момента кризиса». 


Выступление Председателя ФРС в Джексон-Холле 31 августа
August 31 Speech--Chairman Ben S. Bernanke Monetary Policy Since the Crisis At the Federal Reserve Bank of Kansas City Economic Symposium, Jackson Hole, Wyoming 10 a.m. EDT

 
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Судя по названию выступления Бена — кризис для него уже закончился =) Всё что смог поднял до уровней докризисных и пошел дальше… Финсистема планеты зависит от воображения Бен Шаломыча… =)
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все же "с момента кризиса" подразумевает continuing, вот если бы "… в период кризиса" )
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Название это поверхность..  Если заметили, то Бен практически не говорит фразы " необычайная неопределенность" и «новая нормальность». Это «эконометрические величины» понятные математикам типа Бен Шаломыча. «Неопределенности» и «нормальности» в виде формул используются для расчетов, и Бен, если Вы следили за его деятельностью с момента запусков QE, проверял итоги своих действий на соответствие с «новой нормальностью» =) Если не вдаваться в детали, то формирование «новой нормальности» занимает приличное время… и оно «тикает»… а расчеты у Бена =)
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PIMCO
Even with QE3, Treasury yields have practical limits. 1.50% 10 year is a good common sense bottom.
PIMCO:
Even with QE3, Treasury yields have practical limits. 1.50% 10 year is a good common sense bottom.
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