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Joe McConnell
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A Gold Standard System Based on Bullion Coins Is No Longer Practical

- Nathan Lewis - New World Economics

Why couldn't you have bullion silver coins, denominated in dollars and fractions of dollars at the silver content of pre-64 silver coins, and bullion gold coins, denominated in eagles and fractions of eagles, but with no statutory ratio between the dollar and the eagle. A car dealership could quote prices in eagles, whereas a restaurant would quote prices in dollars. Businesses that sell products on the edge could have a sign with the number of dollars to the eagle. You may still need a token penny and nickel, but these would only be required for acceptance in amounts less than $0.10 or $0.25.

Commented 3986 days ago

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Beginning of the headline :I’m kind of a big picture guy. I would like to see the government of China issue a parallel gold-based currency, in the form of banknotes and coins, for widespread use within China and around the world — or, at least, to sanction some private institutions to do so, as Hong Kong does today. Full banking operations, using the new currency, would be immediately available. Then we wouldn’t have to talk about it. You could use it if you wanted to, just as you mi... Read More

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