Bernanke's bent for openess will serve him well

Max Walsh, 14 March 2013, The Australian Financial Review (subscription required)

After the United States left the gold standard in 1933, president Roosevelt would hold a conference from his bed with his advisers. There, he personally set a daily target for bumping up the gold price, not always through scientific methods.

One day, November 3, the president suggested that gold should go up 21¢. "It's a lucky number," he explained, "because it's three times seven."

Read the full article: Bernanke's bent for openess will serve him well (subscription required)

central banks interest rates economic policy Ben Bernanke US Federal Reserve Bretton Woods Franklin Roosevelt gold standard global financial crisis inflation

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Max Walsh

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Max Walsh was for many years one of Australia’s top economic and political commentators, highly regarded as a journalist, author and broadcaster. Throughout his career, Max was involved in all dimensions of the media industry, which has encompassed positions with two of Australia’s largest publishing companies and television networks.

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