In watching this recent interview of Jim Grant on RT News he directly compares the gold standard to 'the Ron Paul Approach which involves denationalization of money...' and goes on to imply, to my understanding at least, that governments would not have the authority to set honest weights and measures under Ron Paul's approach (see 18 min 47 sec to 21 min 04 sec)
What Grant seems to suggest is that there be an international organization that sets the weights and measures of gold and it's value, while my understanding of Ron Paul's approach is that governments (either county, State, Federal or whatnot) could only set honest weights and measures (you can't commit fraud and call a 28.36 gram gold coin a troy ounce) but not legally fix the value of said gold to a government issued script or to another commodity. In other words, the market, not the government, decides the value of gold relative to all other commodities at any given time, while the government is restricted to regulating the market with regards to weights and measures.
Is my understanding on this correct? It seems to be a non-trivial distinction to me and one I see argued over here and elsewhere, but never quite so plainly stated.
All constructive or humorous input appreciated, but please be forthcoming with your premises.
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