Ah, yes. All the “smart,” “sophisticated” people
made riotous fun of Ron Paul’s proposal that the United States return
to the gold standard as the foundation for our monetary system. Gold is
supposedly “impractical,” “old-fashioned,” “crazy” to use as the basis
for our money.
Gee. For something that is so “useless” except for jewelry and certain
manufacturing processes, funny how the price of gold has soared in the
past couple of years, zooming from $600 not that long ago to nearly
$1000 now. But, of course, that has nothing
to do with the implosion of the dollar, nothing
to do with rampant inflation of the money supply, nothing
to do with the uncounted billions of dollars setting in foreign banks, nothing
to do with threats from China or oil producers to switch to Euros. Nah.
It would be “silly” and “naive” to believe that any such real-world
connection exists between the chimera that is the gold standard and the
dollars in our pockets that depreciate in value day-by-day.
It’s gonna be a rough ride, folks. As the Chinese curse goes, we live in interesting times...
(from Don't Get Me Started!