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kknohe
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The Myths and Reality of Gold Confiscation

- James Turk - Goldmoney

Deficit spending is only half the solution. The other half is the control of inflation.

With the help of intelligence and technology, we should live in a deflationary world. But such an economy is "stable" and does not create much incentive for growth, and consequently for over a century now we have "chosen" an inflationary world. A good deal at the beginning since we can borrow from the future and governments can confiscate a few percents here and there by underestimating the inflation rate and therefore spend more than they can tax.

But like Greek music, inflation goes faster and faster until the system crashes. It has always been so in the past and will happen again soon.

There is no way we can learn from past mistakes since the recurrence is far longer than the human lifespan and we are therefore condemned to repeat this mistake again and again.

There were probably no "economists"as such in Rome, but I m certain that educated people from that time would recognize the ills of our time with a sight.

Commented 4679 days ago

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Beginning of the headline : There are a number of common misconceptions about the gold confiscation foisted on the American people by President Franklin Roosevelt in 1933.Most of these have been offered as justification for FDR’s nefarious deed, and over time have endured to become urban legends. For example, perhaps the biggest and most enduring myth is that FDR had to confiscate gold because it was needed to back the dollar, which was still defined as 23... Read More

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