Friday The unadulterated Gold Standard means that no paper money can be printed that is not redeemable for gold (or silver) coin. In the very near future governments are going to be forced to live within their means. That means zero welfare and zero pensions; not because people do not deserve their pensions, but because the money that was extracted from them for that … [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...]