The recent pro-gold opinions published in this magazine shows often seen misconceptions that replacing fiat money with a gold standard would restore stability in the dollar.|
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The recent pro-gold opinions published in this magazine shows often seen misconceptions that replacing fiat money with a gold standard would restore stability in the dollar. If you were a football coach would you make your “play book” available to the opposing team? The answer is obviously “no” as that would enable the opposing team to better compete against you. On Aug. 12, 2010, the United States Mint released the second coin in the latest series of one-ounce $100 proof platinum coins, and it should be a real winner. The world’s central banks are likely to be net buyers of gold in 2009 after spending two decades as net sellers. Like many others, I was somewhat surprised by the 1099 reporting requirements inserted into the recent health care legislation. Obviously, this is a huge issue within the coin collecting community. Gold has served as honest money for over 3,000 years. What makes gold so attractive is that it holds its purchasing power over long periods of time. Tom Altvater wrote for the July 20 Numismatic News Viewpoint some of his opinions about gold and money. It would be funny if it weren’t so sad. Do you think there should be stiffer penalties for people who knowingly sell doctored coins? Folks, let it rest. Gold is no longer money. It is no longer the basis for money, except in the minds of a few. I see that it is again time to correct misconceptions about the present-day nature of money. |
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