Blogs > Liberty and Power > For America Today, A Gold Standard Is Unworkable

Apr 4, 2011

For America Today, A Gold Standard Is Unworkable


by Liberty and Power


Throughout recorded time God has punished mankind (deservedly so, one must admit) with frogs, floods, and country music, but He has never punished us with inflation, which for humanity is a purely self-inflicted scourge. Inflation is man-made, foisted upon the working masses not by heaven but by the political class. History is replete with instances of their coin clippings, passing off of counterfeit money, and, in the modern world, the scam of paper money.

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C.J. Maloney - 4/7/2011

Sir: The Republic is dead, the last remains were swept away under FDR. We are a pure democracy, the Founders belonged to another country, the Republic. No American alive today has ever breathed the air of a Republic. Paper money is democratic, hence American.

Allan Walstad - 4/4/2011

1. Being "democratic" does not make paper money American, as the essay appears to claim. The Founders established a republic, not a democracy.

2. Presumably, before a return to a gold or other commodity standard were politically feasible, the American public would need to be educated to understand why that is necessary and why medicine must be taken even if it tastes bad. Either good economists can do that, or the lesson will be brought home via the school of hard knocks.