Saturday, March 04, 2006

How Much Gold is that House Worth?

Did you know that houses in Vietnam can be bought and sold on the basis of a price in gold? And that the recent surge in the price of gold has caused havoc in the Ho Chi Minh City housing market, bringing it to a standstill in some sectors? Read more about this here.

[Thanks to for the picture.]

If we ever try to get back onto a gold standard, we may find ourselves on a very interesting roller coaster ride. Some have put the needed dollar price as high as $2,800 an ounce, and you know? I'm not far from believing it.

Read a fascinating collection of opinions on this subject in a book published at the American Institute for Economic Research after a conference in May of 2004. It's called "Prospects for a Resumption of the Gold Standard," and holds the opinions of Anna J. Schwartz, Lawrence H. White, Gerald P. O'Driscoll, Jr., H. David Willey, Hugo Salinas Price, John C. Hathaway, Michael T. Darda, Richard Sylla, Michael W. Crook, Robert E. Wright, and John H. Wood, economics experts all. Get a copy here.


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