GunnyFreedom
03-11-2011, 12:11 PM
Was able to clear up several misconceptions about advocacy for sound money and on Austrian School economics.
Money quote:
Reporter "What is the purpose of going to gold as money when the price of gold is so unstable?"
Me: "Actually, it's not gold but dollars that are unstable. If you look at how much gasoline or oil a given quantity of gold can purchase, that has remained relatively unchanged since the 1940's while the US Dollar has swung wildly up and down. The idea of allowing an alternative tender in gold and silver is to introduce a stability that is not currently present in the US Dollar backed as currently by the Federal Reserve Bank."
Money quote:
Reporter "What is the purpose of going to gold as money when the price of gold is so unstable?"
Me: "Actually, it's not gold but dollars that are unstable. If you look at how much gasoline or oil a given quantity of gold can purchase, that has remained relatively unchanged since the 1940's while the US Dollar has swung wildly up and down. The idea of allowing an alternative tender in gold and silver is to introduce a stability that is not currently present in the US Dollar backed as currently by the Federal Reserve Bank."