Monday Reader’s question: “We heard some credible-sounding guy on YouTube today predicting that the U.S. will be back on the Gold Standard in 2020. Do you think he’s drawing a rather long bow? If he’s right, even if it’s later than 2020, what do you think would happen to the silver price?” D.R. P.B.’s answer (with some further reflections added): How does he know … [Read more...]
Gold Changed the World
Thursday The commonly articulated flaw of fiat ‘money’ is that its value is unstable. While true, the full reality is worse. There is a one-thousand-year track record of governments, always and everywhere, degrading paper money till, ultimately, it ends up worthless. At some point, paper always completely fails. There is no virtue in paper that is ‘backed’ by Gold. … [Read more...]