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One more book, Mr. Stockman - George F. Smith - Barbarous Relic

While it is true that "[Gold standards] were abused, suspended, and ultimately abandoned in favor of a currency that central banks could inflate at will", it's worth recalling that the British gold standard, introduced (unofficially) in 1717, survived almost 200 years, until the catastrophic losses of the first world war induced the British government to suspend and ultimately renege on it. In that period, we had all the convenience of banknotes which were "as good as gold". Gold coins are of limited practicality as currency, because they are subject to wear, easily dented or bent, and too valuable for everyday transactions. People will continue to use fiat currency, in its electronic and paper forms, because of its great convenience, despite its inflationary abuse by governments---so long as inflation does not make it too costly to hold.

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Début de l'article :On March 14 of this year Gary North published “A letter to David Stockman” in which he identified Stockman’s popular website as providing the reasons and statistical evidence for why “Keynesian economic policies are going to blow up the world.”North goes on to say: You are the lightning rod for all of the establishment economists and senior bureaucrats who are overseeing what is going to become the worst economic disaster of modern times. They don't like the criticism. They fully understand tha... Lire la suite

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