Lots of people are fastened on what cash is and presume one way or the other {that a} return to treasured metals will remedy the issue. Valuable metals are for private use. They’ve by no means prevented any society from systemic financial collapse. Don’t confuse hoarding gold to protect wealth with a gold commonplace. We had one with Bretton Woods. Governments printed and by no means adjusted the conversion ratio as a result of they needed to admit what they’d finished. The issue is just not WHAT is cash, the issue is regardless what cash is likely to be, politicians all the time spend greater than what they’ve. The one sensible resolution is to get rid of the power to borrow.
Debt has destroyed each empire, state, and metropolis for the reason that daybreak of time. Hammurabi’s Authorized Code created authorized limits on curiosity, so borrowing was an issue from the daybreak of civilization. The one resolution to be sensible should deal with the excellent debt whereas eliminating the capability to borrow. Altering to a gold commonplace means the excellent debt can be due then in gold. The bankers will love that. If we default, all pension funds will go to waste, and we might be taking a look at huge civil unrest.
We’ve got to be sensible. If we’re going to comply with dogma, you higher dig a gap and don’t come out till the mushroom cloud subsides. That is actual shit we’re speaking about! This isn’t an idealized idea. Each act could have an equal and reverse response.
I’ve said many occasions that unemployment hit 25% throughout the Nice Melancholy due to the Mud Bowl, and 40% of the civil workforce was employed in agriculture. We’re at an analogous threat as we speak, however the 40% is in authorities, producing nothing towards nationwide wealth, and are public servants as a result of we pay them to supply nothing.
It’s the implosion of state and native authorities, their incapacity to print into oblivion, that’s the examine towards hyperinflation as they elevate taxes and check out desperately to carry on to their chiefdoms. Gold is for private survival. Switching to gold doesn’t deal with the debt, rising employment in authorities, the pensions, and our long-term survival.
So gold might assist you survive personally because the financial system switches to underground, nevertheless it is not going to deal with the a long time of abuse suffered beneath Marxism. The federal government is incapable of ever managing the financial system. That’s the reason communism collapsed. It’s now socialism’s flip (simply being a little bit pregnant with Marxism).
