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Leandro O
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The Persistence of the Bizarre

- Nathan Lewis - New World Economics

The problem with Nathan Lewis is that he wants to replace the present "air" standard for and equaly arbitrary standard fixing the gold price at an arbitrary value...The gold stadndard that Nathan Lewis and his "clown brigade" are preaching is a gold standard fix by the goverment by law...The problem is the goverment involment in the monetary affairs. What Nathan is proposing, is another way in which the goverment and the politicians could continue mangaging the money as they please. Let the people chose the comodity that they please as money. Historicaly, and because its caracteristics, gold was chosen. I insist, the real problem is the goverment trying to fix the value of the money

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Début de l'article : There's a notion out there that, to establish a gold standard, you take the existing monetary base, divide it by the amount of gold the government has in storage, and then you end up with a price of gold. This is so idiotic that for a long time I figured I'd just leave it alone. Do these people also think that babies are delivered by storks? And yet, it is a testament to the extremely poor state of affairs these days that these sorts of arguments exist, and indeed have been around for decades apparently without anyone to call BS on them... Lire la suite

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