Mike Maloney: Gold Standards Suck


Gold standards are not the holy grail of monetary systems. They merely open up the possiblity of governments abusing the system and printing more receipts for gold and silver (cash) than they have in physical metal. One of the reasons that we are living through such turmoil is that we allowed governments to cheat gold. A more stable system: use gold and silver themselves as money, as the free market has demanded for the last 2000 years.