Gold standard advocate to speak in New Zealand

Media release fekete – 1
29 September 2009

Gold standard advocate to speak in New Zealand

One of the world’s leading advocates of aligning currency to a gold standard is to be the keynote speaker at a dinner in New Zealand in October.

Professor Antal Fekete believes the world – and in particular the Unites States – is heading for an inevitable monetary crisis because governments do not hold sufficient gold reserves to support the fast growing supply of their currencies.

Professor Fekete is a world renowned mathematician and monetary economist and is presenting an address on the impact today of modern legal tender laws of the past 100 years at the Auckland Club on October 28.

His address is sponsored by NZ Mint and the event is a fund-raiser for Ficino School in Mt Eden.

Born in Hungary in 1932, Professor Fekete graduated from the Eötvös Loránd University of Budapest in mathematics in 1955. He emigrated to Canada in 1956 and was appointed assistant professor at the Memorial University of Newfoundland in 1958. In 1993, after 35 years’ of service he retired with the rank of full professor.

He has had tours of duty as visiting professor at universities in the United States and Ireland as well as in Canada. In 1996 he won the first prize of the essay competition of Bank Lips, Switzerland, with his entry ‘Whither Gold?’.

Professor Fekete believes the solution to stable currency is to have a worldwide gold coin standard and redeemable currency must flow and ebb together with the production of consumer goods moving to the market apace.

NZ Mint bullion dealer Mike O’Kane says the company hopes Professor Fekete’s visit will help stimulate discussion about monetary standards.

“There’s a lot of talk in treasuries globally about how the recent recession was caused and how we can avoid further crises in the future,” he says.

“The professor’s visit provides a unique opportunity to hear a world authority present an alternative view about what makes money ‘sound’, and how ‘unsound ‘ money has pushed us to the very brink of disaster, time and again.”

“He’s an extraordinary man where courage, penetrating inquiry, integrity, humanity, and common sense come together in a way that is all too rare in the world of money matters. Importantly, his message is delivered with wit and simplicity.”

Websites: www.goldstandard.co.nz www.newzealandmint.co.nz www.ficino.school.nz/ www.professorfekete.com http://en.wikipedia.org/wiki/Antal_E._Fekete

ENDS

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