Ron,
Gold is not a Utopia. It has just as many problems as Fiat money.
Ron, your logical fallacies are legion. But, by way of example, let us explore these two recent, side-by-side declarations in order to judge the veracity of your ruminations...
First you tell us "gold is no Utopia". The inference being that, since gold has not achieved perfection in a monetary sense, it is no better than any other alternative, despite the vast historical record to the contrary. This inability to make qualitative judgements is most troubling. By your line of reasoning, you could as well have said Democracy is no Utopia, the analogous inference being that we might as well use any one of the "newer", "less problematic" governments, say Communism, Fascism, or Dictatorship. For, as we all well know, Democracy is no Utopia.
Then, without pause, you inform us that anything approximating a gold standard "has just as many problems as Fiat money".
Of course, this is exactly what the gold thugs and paper boys of the world would like us to believe. The only problem with this assertion is that there is zero evidence to back it up and thousands of years of first-hand experience to refute it.
And one must ask: Problems for whom? Not the man trying to feed his family on a fixed income. Not the couple saving for their retirement. Not the independent small businessman building a future for himself and his community. No, only the central banks of the world and their ultimate masters have "problems" with honest money.
The men that constructed this country knew a few things about paper currencies. They knew a few things about banking, too. There is good reason that the US Constitution unequivocally declares that the money of the United States of America will be Gold and Silver and nothing else.
They had seen the ravages that fiat currencies and leveraged banking had wrought upon the capitals of Europe and took great pains to eliminate these great evils from their young country. They knew that a great country required honest money. They knew that a great people required honest money. They knew that the fruits of a man's labors were his own. They knew that it was their responsibility to safeguard those fruits. They knew that those fruits would be surreptitiously stolen from the People if the financial systems in place in Europe were propagated across a nascent America.
Ron, you really are quite an amazing fellow. In one short sentence, you have attempted to both refute the accumulated history and experience of a thousand civilizations and managed to discredit the wisdom, experience, and foresight of Thomas Jefferson, Samuel Adams, Benjamin Franklin, and all the other architects of the US Constitution.
And it wasn't even lunch yet! |
