Sunday, October 18, 2009
An Open Response to Publius
I guess what I liked about it was its commentary on the attitudes of gold-heads. As a group, the folks who are out there screaming "gold, gold, gold" are, for the most part, buttheads, and do fit the description in the link.
The folks out there buying gold and talking their book are actually speaking of the failure of the currency (which will be a horrendous event, coupled with massive pain and countless losses). The big trouble I have with a lot of the folks who do this is their smug, self-satisfied, and thoughtless disregard of what their "wealth" will bring them. To be "rich" in a sea of poverty and want is not the aspiration of a decent man.
As for gold as the medium of exchange and a non-fiat based currency, that is a different story. I think that we ought to be exploring how to move to a more stable currency system. But before we go haring off chasing some purist notion of a "stable currency", we should look into the past for more guidance. A straight gold standard brings with it a lot of issues as well as stability. One should consider the words below.
at 8:42:00 AM