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Tuesday, May 29, 2012

Currency Reform, not using Gold

I am NOT for reforming currency flows by moving to a gold based standard.

A gold base standard is changing from money creation from central banks to money creation by metal miners &  central banks.

Such "reform" is smoke and mirror of no reform.  In fact, it centralizes money creation into countries that have large gold mining producers and cripples countries without any gold mining.

I am in favor of freeing money creation from the few to the many PROVIDING the methodology is sound and prevents devaluation of currency.  This is a tricky issue, and I plan to cover it eventually as a follow up to my "what is money" series.

In any event, this is a great watch from Bill Still, someone who I have been covering for quite a while.
He covers his concept of true currency reform, granted some large gaps in the solution.

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