Aunt Judy, I think this is a really important clarification. Honestly, I hadn't even really stopped to think about the difference. What I have been referring to in my various gold related posts is a system where gold is money. The "gold standard" didn't really work because the government printed more many than they had backed by gold -- hence the collapse of Bretton Woods. In essence, the gold standard was a form of price control.
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Aunt Judy, I think this is a
Aunt Judy, I think this is a really important clarification. Honestly, I hadn't even really stopped to think about the difference. What I have been referring to in my various gold related posts is a system where gold is money. The "gold standard" didn't really work because the government printed more many than they had backed by gold -- hence the collapse of Bretton Woods. In essence, the gold standard was a form of price control.
Thank you for pointing out this article.
Ron Paul on Fox Business 1/30/09 on gold standard
Ron Paul on gold standard
Also before the US House of Representatives 2006:
Now I am really confused.
Now I am really confused. Which is it? I have to do some more research!