The average lifespan of a fiat currency is 27 years. Wow. Americas gold standard lasted 200 years, and was completely eliminated by that bastard Nixon... Even Alan Greenspan, considered to be one of the best Fed Chairmen of all time, even favored a gold standard after he left the Fed. Its also no coincidence that after Andrew Jackson took down the banks in 1836, America went through the greatest financial boom in any nations history. On his death bed, Andrew Jackson was asked what the greatest accomplishment in his life was. His answer? I killed the bank. And I wont even mention Englands financial boom. I also dont like the assumption that we would have to carry around gold coins for a gold standard. Not true. There is still room for paper money for sheer convenience, its the fact that there is no intrinsic value. If there were something valuable to back it up it would be different. Theres also another nasty assumption that going back to the gold standard would supposedly set us back over a century. What these people forget is that even the Romans devalued their currency. Fiat isnt anything new either. Its just about as old. We dont want to end up like Zimbabwe! With inflation at 13.2 BILLION per cent per month (no bullshit), Zimbabwe has reached record levels of inflation. Not to say a gold standard is completely safe. I think we need to find a new system in general. A combination of the two doesnt work either. https://goldstandardsolution
Posted on: Mon, 08 Dec 2014 23:19:53 +0000
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