Gold is discipline. Gold is control. And that's all. The current monetary system is devoid of discipline and beyond control.
Oh, you are most certainly correct!!! Tying your paper currency to Gold is very disciplining. Kinda like disciplining a thief with capital punishment through disembowelment.
Especially, when you try to calculate how high the price of gold would have to be to back ALL of the available reserve currency in existence out there.
But those who think about the '70's when the US went off the gold standard, much of it was due to the US economy growing far in excess of its available gold supply. The US economy would have been SEVERELY hamstrung had it been forced to grow only at the rate comparable to annual production of gold.
That bears repeating... "pegging paper currency to gold means that the global economy grows only has fast as the gold can be mined from the ground". And if your country doesn't happen to have any gold deposits in its territory, you're screwed!!
I don't know about you folks, but I would like progress to move a little faster than that. Growth that is consists of regulatory discipline that consists of transparency and accountability, of course.
And to think about all the wars that were fought over gold because foolish people considered that "shiny metal" somehow valuable.
Isn't being dependent on the the Mid-East for our oil bad enough??
Someone tell me why my analysis is all screwed up. I really want to know.
Do people think that a collapse of the global financial system "to its goldless ashes" is in anyone's interests??
Does anyone on this thread REALLY THINK a global financial collapse will happen without major wars, starvation, and massive unemployment?? Are we invulnerable to depression??
Think it through people, for once the genie is out of the bottle, it is very difficult to put him back in. And you may not like what results from having your wish granted to you.
Regards,
Ron |
