Socialism has bankrupted the first world, first in Europe and now in the United States, with the rest of the world being towed behind in the wreckage. The World Bank is now calling for a return to the gold standard, while Ben Bernanke, head of the Federal Reserve, has floated the insane proposition that inflation may be necessary to cure the debt crisis facing the United States. Others are looking for ways to implement a world wide currency regime, while others insist that certain countries, China for example, stop fooling around with its currency, giving them an advantage in world trade, and let the Chinese currency find its proper place in the currency markets. The argument does not seem to include the idea that market capitalism and a stable currency regime, ala Bretton Woods, might be the answer all are looking for.

 

 

The world once prospered well with Bretton Woods

Where wealth was made with manufactured goods

And money had an exchange rate that stood

On firmer ground than today’s ever could

To float a currency now seems insane

It leads to mercenaries out for gain

Where guys like Soros make the money dance

And buy the pols thus leaving naught to chance

A stable currency, not one that floats

A dream, for sanity has not the votes