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Prophets of Gold – Part 2 – Fallacy of the stability of a fixed currency.
When I get into discussions with those Austrian[1] types who want a return to ‘the gold standard’ (TGS), they keep saying “it limits the amount of money a country can print…government can’t just keep...
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Prophets of Gold – Part 3 – The demons debt and deficit
Having discussed that gold does not provide economic stability; the prophets of gold shift their focus to debt…gold doesn’t create stability but will prevent debt. They literally demonize inflation The...
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Prophets of Gold – Part 4 – The ghost of fractional reserve
Old fears not seen Having discussed how the prophets of gold use government debt to promote their gilded dreams, we will now discuss a more bizarre idea that any currency that is not gold is simply...
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Prophets of Gold – Part 5 – Hyper-active over hyper-inflation
Last time we discussed how fractional reserve banking can inflate the amount of money in an economy…the prophets hate inflated money. Old fears renewed The underlying premise of the previous planks of...
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