Skip to comments.Back to the gold standard?
Posted on 05/15/2019 1:05:16 PM PDT by skimbell
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Truthfully, specie (gold and silver) were good, but today are too limited. What would be more practical today would be currency backed by a multitude of metals, semi-metals, alloys, gems, difficult to manufacture but stable chemicals.
The value of this would be that all of these things would float relative to the others, they could be used like silver certificates, that is, the paper currency could be redeemed for its value in its basis.
Different purity of things could have different value: such as extremely pure Canadian Maple Leaf gold coins, compared to less pure coins.
Keynesians hate gold
Debt is the money of slaves and Atlas is about to shrug...
It's much worse with a 20 dollar gold piece. They now run $1300+.
Tie it to one gallon of unleaded alcohol free gasoline.
Energy is an interesting standard to use.
Almost everything uses energy to be made, transported, and used.
A kilowatt-hour standard would be better than a gold standard, imho.
All energy naturally translates to kilowatt-hours.
The chart contains an error.
“To prevent hoarding” the mint continued striking sliver coins dated 1964 until 1966.
Trying to repeal Gresham’s law was every bit as successful as trying to repeal Murphy’s Law would be.
Thanks for pointing that out.
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