Broadcast date: 31 Mar. 2012
Iran is no longer dealing in the dollar for oil sales which is putting focus on gold. A few days ago the global political Islamic group Hizb ut Tahrir put forward a case for the gold standard.
The report puts forward the argument that the benefits of the gold standard calling it a system of stability without major cyclical effects independent of government manipulation; devoid of inflationary fiduciary issue, international crisis and creates a long term balance of payments.
With gold and silver being ideal mediums of exchange due to them having intrinsic value, with them being widely available they cannot be monopolised.
With the financial crisis it has exposed the problems of the current system. This edition of the show will examine whether returning to the Gold standard would be beneficial