Richard,
When people start calling for money to be tied to various commodities indexes, gold, silver, soy beans, oil... what have you, it is a subsidy.
It's a subsidy for one simple reason in that no country wishes to see their currency made weak by low commodity prices, so gov't resources will be shifted to enhance the price of those commodities so their currency will remain strong.
That's a subsidy Richard. And the fact that farm advocates are clamoring for a gold-backed security in order to boost overall commodity prices indicates how risky a gold standard really is.
As for farming, the age of the family farm has been receding for years now. The hand-writing has been on the wall since Farm Aid. You and I may not like it, and I know many of the family farmers I grew up around don't like it, but they know consolidation in the farming industry, like many others, is inevitable.
Regards,
Ron |
