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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 393.24+1.1%Dec 11 4:00 PM EST
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To: sense who wrote (173788)6/27/2021 9:19:06 PM
From: sense1 Recommendation

Recommended By
Cogito Ergo Sum

   of 218434
 
Should also note that those, today, who tell you that one of the reasons for returning to a gold standard is that it is necessary to prevent fraud... just don't know history:

Black Friday

A gold standard does prevent wanton currency debasement... which causes lots of problems... many of which (as today) may become worse than the problems a gold standard imposes. But, a gold standard ALSO imposes problems... just different ones... and it is not a cure for the tendency of self interested people to find ways of defrauding others...

Bi-metalism... monetizing silver... was a partial "cure" for some of the problems a gold standard imposes...

Today, they've talked about "a basket of currencies"...

And, of course, crypto is postured as having an ability to solve problems... when, in fact, it is likely to make the problems a gold standard imposes only worse than they are under a gold standard ?

Shouldn't we have that conversation, now... before the currencies fail and we are presented with a fait accompli as "this is the solution we're imposing" ?

Bankers are the LAST people on earth that you should trust to design a currency scheme or an economic system...
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