Sunday, January 28, 2007
The Federal War on Gold
Keep in mind that the Framers had implemented a gold standard so that the American people would be forever protected from the destructiveness of inflation. It was the gold standard – that is, the requirement that the federal government redeem all its paper notes and bills in gold – that had operated as a restraint on government’s ability to print ever-increasing amounts of paper money. The gold standard’s positive effect on capital markets was also one of the primary reasons that the United States rather quickly became one of the most prosperous nations in history.
read more | digg story
read more | digg story
