Ritorno agli anni sessanta

BERKELEY – Nonostante gli Stati Uniti abbiano registrato un tasso minimo di inflazione, dilagano le proteste sugli effetti della politica monetaria americana. Le economie in rapida crescita, e ormai quasi a pari passo con quelle avanzate, si stanno muovendo in fretta per evitare di essere trascinate in basso dal torrente di afflussi di capitale. I principali policymaker, che si disperano nel tentativo di trovare qualche alternativa all’avariato sistema monetario americano, sono persino arrivati a parlare di un possibile ritorno allo standard dell’oro.

Non mi riferisco al 2011, bensì al 1964, ovvero ad un contesto già sperimentato.

Nel 1964 erano le crescenti economie europee, in corsa per raggiungere gli Stati Uniti, a lamentarsi della Riserva Federale. A loro avviso, a causa della politica americana sconsideratamente espansionistica, si trovavano inondate da fondi importati. Non solo, in questo modo l’America “esportava l’inflazione”.

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