Tuesday, June 14, 2011

If the gold standard is too fiat for you...

Posted by dkuehn at 11:33 AM
...you might be a Ron Paul supporter (or Ron Paul himself).

Auri sacra fames strikes again.

5 comments:

  1. TonyFernandezJune 14, 2011 at 1:23 PM

    The gold standard isn't perfect, but it's better than straight-up fiat currency. Freely issued currencies are the best, but pigs will fly sooner than that will come about.

    ReplyDelete
  2. Prateek SanjayJune 14, 2011 at 9:27 PM

    Tony, I think Daniel's point rather was about how needlessly over the top Paul sometimes gets.

    A while ago, claims of emptied out gold at Fort Knox were purely blog and fringe site material. Now, Ron Paul brings it to the mainstream.

    It's like he really gets his news from LewRockwell.Com every day.

    ReplyDelete
  3. Gary GunnelsJune 14, 2011 at 9:28 PM

    In related news, shrill asshole and all around jerk Charles Schumer is going after bitcoin (the same POS who brought us the irrational war on FourLoko): http://www.pcworld.com/article/230084/us_senators_want_to_shut_down_bitcoins_currency_of_internet_drug_trade.html

    Note how Schumer apparently doesn't even understand what bitcoin is.

    Of course the Obama administration is all over this too; the idea that people might have an alternative currency freaks out the powers that be.

    ReplyDelete
  4. Bob MurphyJune 15, 2011 at 5:19 PM

    Daniel, usually I get your point, but here I don't. You're writing as if the government is currently on the gold standard, but shucks that's not enough for the impossible-to-please Ron Paul. If the government actually were redeeming dollars for gold on demand, then people could conduct random audits themselves.

    So what do you mean, besides, "Gosh I think Ron Paul is goofy" ?

    ReplyDelete
  5. dkuehnJune 15, 2011 at 5:22 PM

    He thinks the gold we do have may be fake - i.e., fiat. So if we were to go on a gold standard, all our gold is fiat gold.

    Just a joke - not meant for very close analysis.

    ReplyDelete

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