Gold, Peace, and Prosperity: The Birth of a New Currency | Silver Monthly - The Silver ... - 0 views
www.silvermonthly.com/...ty-the-birth-of-a-new-currency
gold-currency ron-paul financial-collapse financial-oligarchs Banksters banksters
shared by Gary Edwards on 13 May 10
- Cached
-
Gary Edwards on 13 May 10Gold, Peace, and Prosperity is the title of Ron Paul's essay for a "modern" gold standard. According to Paul, such a standard would end the relentless boom-bust cycle, and maintain the value of King Dollar. However, King Dollar would have to be founded on a monetary standard that eschews government tampering. Paul begins his treatise by pointing out that "Congress alone is responsible for inflation, and Congress alone can stop it." Which means that the old scapegoats - OPEC, greedy CEOs, labor unions - are not the real cause of inflation. To support his contention, Paul relates a story told by Marco Polo in his travels through China. As Paul states, "Abuse of paper money led to the expulsion of the Mongol dynasty from China." Bretton Woods - in 1944 - supposedly established a new gold exchange standard. In Paul's opinion, Bretton Woods was "nothing more than an international Federal Reserve System." And of course, it didn't do anything but cause more inflation. Then on August 15, 1971, President Nixon "closed the 'gold window.'" This was the beginning of "managed fiat currency." Paul states that since 1971, the price of gold has increased "more than twentyfold." The trade deficit has increased by 1146%, and the Consumer Price Index has increased 79%. Due to these imbalances, he concludes that the dollar is dead. Rather than pronouncing the Last Rites over the dollar, followed by a mournful funeral and weeping and wailing, Paul views the death of the dollar as an opportunity. "The time is ripe for the institution of a trustworthy monetary system." And it's not all that difficult. The way to stop inflation is to "stop inflating the money supply." Paul then cites the three main reasons politicians, bankers, etc., desire inflation: greed, power, and a way to pay the government's bills without raising taxes sky-high. The answer - the only alternative - to inflation is