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0 pointsjerguismi13y ago0 comments

> What I find really funny when I hear Ron Paul or somebody advocate a return to the gold standard and the abolition of the Federal Reserve is that they're really arguing for handing over monetary policy to the mining industry!

Not really, mining industry still can produce only fixed amount of gold, while central bankers can potentially print infinite amount of paper money.

(I'm not advocate of gold standard)

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martinced13y ago

+1...

And seen that unlimited QEs have been announced one can only conclude that our current system is deeply broken.

The probability that it ends up in a really ugly way is far from zero.

I could tell that I'd take the "gold-backed, 5% inflation per year max no matter what" anytime over the unlimited QEs we have now.

We're sitting on a time bomb and it has the potential to change the western world as we know it.

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