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It has the salutory effect of preventing inflation. It has the disadvantage - if a compulsory unit of exchange - of being a dictate by the State.
How would you convince me of the superiority of the Gold Standard versus bimetalism, or a Silver Standard, or a Bitcoin Standard? How about versus free market money where anyone can print whatever unit of exchange they want to convince others to accept?
I'll take any of the above alternatives to the current fiat-currency monopoly and money-as-debt scheme.
>_<
Never attempt to teach a pig to sing; it wastes your time and annoys the pig.
Robert Heinlein
Give a man an inch and right away he thinks he's a ruler
Groucho Marx
I love mankind…it’s people I can’t stand.
Linus, from the Peanuts comic
You cannot have liberty without morality and morality without faith
Alexis de Torqueville
Those who fail to learn from the past are condemned to repeat it.
Those who learn from the past are condemned to watch everybody else repeat it
A Zero Hedge comment
I don't know anything about gold or trading commodities, but I see you had the COT data in your video. I see open interest fell off the map last week and large traders were net short for the first time since 2001 in August and commercial hedgers are actually more net long than the large traders which basically never happens. It seems like this is kind of significant. You should do a video on that.
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