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Why the Gold Standard is a Glittering Mirage – A Case for Modern Monetary Policy

By Dave Blaze

Why the Gold Standard is a Glittering Mirage – A Case for Modern Monetary Policy  at george magazine
Why the Gold Standard is a Glittering Mirage – A Case for Modern Monetary Policy  at george magazine
Why the Gold Standard is a Glittering Mirage – A Case for Modern Monetary Policy  at george magazine
Why the Gold Standard is a Glittering Mirage – A Case for Modern Monetary Policy  at george magazine
Why the Gold Standard is a Glittering Mirage – A Case for Modern Monetary Policy  at george magazine
Why the Gold Standard is a Glittering Mirage – A Case for Modern Monetary Policy  at george magazine

10 thoughts on "Why the Gold Standard is a Glittering Mirage – A Case for Modern Monetary Policy"

  1. Darrin Williams says:

    Dave, this is a thought provoking article! Obviously, you have reflected much on the potential challenges, limitations and dangers of the United States potentially reverting back to a Gold standard. This was informative for me since I have not thought through it previously. You make a valid, convincing proposal for a modern monetary policy. However, a concern I have is that with the central banks having this autonomous authority will they actually allow for the transparency and accountability for internal and external checks and balances imposed upon them from internal and external sources/entities? Yet, you stated this policy is not without its challenges and limitations. Thank you for this excellent thought out piece of work on this subject. This is an excellent starting point for future discussions with my family, friends, and colleagues regarding these matters! Moreover, it appears these matters are coming to the American people very soon regardless if we are indifferent and/or uniformed with this subject matter!

  2. Candice says:

    Very informative piece. Yet concerning since we are not a democracy. We are a Republic. Everything written about inflation and deflation is exactly what is wrong with the central bank system right now. I feel like this piece wants us to stay right where we are with this non-transparent government. They have too much power and it’s obviously easy to hide from the American people. I’m quite unsettled by the writing here and now question the intention of this magazine. It’s good to see all sides in any situation. Unfortunately we have learned the corrupt nature of the central bank that doesn’t even belong to this country and is not for the people. Paper burns and you can’t pay for anything with ashes. You can purchase goods and services with solid gold or silver that is tangible. I’m seriously confused by this article.

  3. Candice Currier says:

    I left a comment here and it was not posted. I guess they didn’t like my opposing view on this. We are a Republic and not a democracy. Paper burns to ash, gold is tangible.

  4. 7cbreeze says:

    Modern Monetary Policy , What a train wreck.
    Of course a single peg say Gold at a fixed price is a bad Idea , made to fail.
    Bretton woods comes to mind, or post WW1 Fixed rate of Gold , see a pattern?
    Why only one commodity ? One needs only to go back to the coinage act of 1873 in order to see the first signs of price fixing on only one commodity. Not every country has Gold to mine or silver for that matter.
    Todays monetary policy of Fiat currency will fail, every and I mean every Fiat currency has failed 100 percent of the time.
    The Fix I believe is a basket of commodities Gold, Silver, Gas, Oil, Rare Earth, Grains, perhaps Thorium .
    The Mirage is man made currency for its not money ,,, Father God gave us money Gold and Silver

  5. Donna Dodgen says:

    Crazy! Crazy! Crazy! What do we want to get worked up about next? One world order sounds good to you? Not me. Gold standard is the way!!!! Look at the mess we are in since leaving the gold backed currency. It’s much better to be out of thin air! LOL

  6. Kevin Bruce Stevens says:

    Starting to think this is Dave’s job – to stir up debate playing the “devil’s advocate” – to get people talking and examining the topics. I can see how this could be an effective catalyst and apparently it is. Go Dave!

  7. Louis Woodhill says:

    Your article reminds me of a famous quotation. Having read a paper by a young physicist, the famous physicist, Wolfgang Pauli, remarked sadly, “It is not even wrong.” “The dollar” is our unit of market value. Having an undefined, floating unit of measure imposes enormous economic costs, whether the unit in question is “the second” or “the dollar.” It is technically impossible to implement a gold standard under today’s conditions, but we need a defined, stable dollar. The Fed should bring the CRB Index up to 300.00 (from 273.57 today) and keep it there forever.

  8. Bob says:

    Why does Dave use the words (Central Bank”? Why not “Federal Reserve”; the name everyone knows. Here is the problem. The Federal Reserve, created in 1913 when Congress passed and signed by President Woodrow Wilson;
    which created a private corporation owned by bankers. Simple said, the Federal Reserve is in no way controlled by WE THE PEOPLE through our U.S. Constitution.

    My question, who controls our nation’s gold in Ft Knox? Why cannot WE THE PEOPLE conduct an audit of our gold in that fault, now managed, by that private corporation, owned by bankers, the Federal Reserve

  9. Kelly Kilgore, Patriot says:

    Hello, I am not a expert and if anything am ignorant when it comes to the financial functions of money systems. However, from all that I have learned regarding our banking system over the past three years, I am surprised really by the position of this article and it was certainly not the stance I thought it was going to take on the issue. It was my understanding that the future financial banking system was going to be returning to gold backed currencies and especially with the BRIC’s nations forming, I thought there is going to be a stabilization of money due to gold hedging in the future. Am I wrong or did Texas just pass in Sept of 2023 gold back currency. While I know the future of crypto’s and tokens will play a roll in exchanges and the future will have new caveats and potentials due to this, I still was under the impressions we were some how returning to past foundation with promising potential. So to my surprise this article gave the impression that the past and gold backed monetary ideas are not profitable and if anything negative. Aside from this, I did learn the general principals of monetary systems from this piece. Regardless of what direction we may go, I hope it is a prosperous one. Glad for the return of George and glad to witness this comeback. For, I remember sitting watching news of Trump and JFK JR witnessing history in the making not realizing that we would be coming full circle to present day events. It’s a beautiful story. I just hope the sleepers and the ignorant will see the magnificence of this story.

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