NEW YORK (Commodity Online): A recent press conference by FBI has raised a few eyebrows after it reportedly classified gold standard believers as anti-government.
“These extremists, sometimes known as 'sovereign citizens', believe they can live outside any type of government authority. The extremists may refuse to pay taxes, defy government environmental regulations and believe the United States went bankrupt by going off the gold standard”, Reuters reports the FBI as saying.
Gold standard simply means the convertibility of the currency (US Dollar) into gold. The US had gone off the gold standard on August 15, 1971.
With the US debt on the way to $16 trillion, many investors have been attributing the excessive debt buildup to the shift away from the gold standard.
