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Sunday, April 29, 2012

Paper Money: The Barbarous Relic

Gold is vilified by the media, government, politicians and the master planners as the 'golden handcuffs'.
For those not familiar with the mechanics of national economies, the gold standard has often been referred to over history as “the Golden Handcuffs”. How did it acquire this intimidating nickname? Because it absolutely limits our governments from any extreme/insane fiscal or monetary policies without the consequences of those policies being immediately known to the general public. A government trying to run huge deficits (like the U.S. government was doing during the Vietnam War), would quickly see its “bank account” (i.e. the national gold reserves) quickly evaporate as paying for those deficits emptied the government’s Treasury. Thus ultimately the primary reason that a gold standard is despised (or rather feared) by all the charlatan money-printers like Keynes and the deadbeat governments of modern Western economies is that a gold standard forces governments to pay their bills.
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Judy Morris,
Blogger, THL
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