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Brodsky: Gold Standard Will Send Precious Metal to $10,000
Forest Jones
Gold prices would hit $10,000 an ounce or even more, five times than where they are now, should current calls for a return to the gold standard become reality, says Paul Brodsky, co-managing member of QB Asset Management.
Loose monetary policies are fueling worries that too many dollars in circulation may fuel inflationary pressures down the road, and many want a return to the gold standard, which ties the value of dollar to gold.
Proponents, including Steve Forbes and Ron Paul, argue a gold standard would prevent what they see as irresponsible money printing and force the U.S. to live within its means by limiting the amount of money monetary authorities can print.