In the latest podcast I talk to John Butler, Chief Investment Officer of Amphora, about his new book, The Golden Revolution, in which he argues that we are to see the return of the gold standard. In doing so we discuss the end of the gold standard in 1971, subsequent economic history, the importance of the BRICs and touch on the end of the United States as the global super-power.
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The music featured in this podcast is from Kopeika, by et_.
Paul makes one of his standard points….
Please avoid the word “standard” in relation to using gold (or silver or…..) as money.
Either the commodity (the gold or the silver or the ….) is the money or it is not. If it is a “standard” for something else which is the money this is a open door to fraud – for example Benjamin Strong’s (the head of the New York Federal Reserve) antics in the late 1920s.
If buyers and sellers wish to use gold as money then let them use gold as money (i.e. gold of agreed level of purity)n – please avoid the double talk and academic cant about a “standard”, as this (I repeat) is an open door to fraud.