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Correct. Keynesian economics is a fraud we're taught to disguise the fact that we're being robbed. You don't need an inflationary currency for a currency to wor
by willmadden 5y ago
Correct. Keynesian economics is a fraud we're taught to disguise the fact that we're being robbed. You don't need an inflationary currency for a currency to work. Gold and silver worked just fine for thousands of years, and only ran into problems when corrupt governments and banks printed more paper receipts than they had reserves. Central banking just legalized this practice for private profit, and then the peg to gold and silver was eliminated once they had monopoly control.
- boxed 5y agoThose years when "it worked fine" were also when the entire world lived in squalor and horrible conditions. Including kings. I don't think we should call the past horrors "fine" in any way. I'm not saying the gold had anything to do with it. But you shouldn't say that world was OK. The US gold standard collapsed. That's a fact of history.
- jml7c5 5y agoGold is inflationary. Mining increased amount available by ~2% each year.