How I see it...

Laying in my hammock, sipping an adult beverage, I contemplate the deeper issues and finer points of this world and my life. I reach well informed opinions and share them here. Being mostly Irish, I can argue either side of any issue; but you throw the Swede in there and I become a very stubborn, stoic, stick-to-my-values type of person.

Tuesday, June 17, 2008

RealClearMarkets - Articles - Time for a Modern Gold Standard

Now here is an idea that we can all get behind.  A REAL gold standard, or even the silver standard.  Do you remember the Silver Certificates that used to passed around as currency?  Back when we competed with the Pound on an even keel?

Getting the dollar back on solid footing is, or should be, one of our number one goals.  And as the article points out:

What the world learned from the old gold standard is that you cannot use anything physical as money and maintain integrity. Any commodity that is valuable enough to start using as money will be too scarce to continue using as money.

This means that we can not go back to the actual "gold" and "Silver" certificate days and you can not grow an economy on fixed funds.

But, the article does go on to outline a workable plan on how to use gold to stabilize the US Dollar.  And that is where we need to be concentrating our efforts.  It would solve a LOT of issues that we are currently facing.

 

RealClearMarkets - Articles - Time for a Modern Gold Standard

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