Why buy gold ?
What is the meaning of a gold standard and a redeemable currency?
- It represents integrity.
- It insures the people's control over the government's use of the public purse.
- It is the best guarantee against the socialization of a nation.
- It enables a people to keep the government and banks in check.
- It prevents currency expansion from getting ever farther out of bounds until it becomes worthless.
- It tends to force standards of honesty on government and bank officials.
- It is the symbol of a free society and an honorable government.
- It is a necessary prerequisite to economic health.
- It is the first economic bulwark of free men.
Professor Spahr's eloquent words are a timely reminder of the importance of the gold standard and do much to explain how we have arrived at our current circumstances.
The gold standard is the constraint upon bankers and government that would have prevented the disaster that is now upon us…
and, now in 2009, it is too late to undo what they have done.
Professor Spahr understood that the essential role of gold in monetary systems is to prevent bankers and government from overstepping the bounds of sound governance and prudent banking, bounds, which if undone, will bring ruin to the nation and to its people.
When President Nixon severed the ties between the US dollar and gold—as encouraged to do so by Milton Friedman—the very fears of men such as Spahrs and Fekete were set in motion. Now, three decades later, the results are in.
Financial markets are frozen, global trade is slowing rapidly, governments have debased their now fiat currencies and the collective excesses of government and bankers have brought the world to the edge of another Great Depression.
The warnings of those such as Spahr and Fekete were not heeded. Indeed, they were not even heard. The suppression of open dialogue and issues contrary to the purposes of corporate, banking and government interests carried over into colleges and universities as well as the media. It has cost America (the world) dearly.
Only When Freedom Is Lost Do The Reasons For Its Absence Become Clear
Buy gold was originally published Jan 2009 – Still Relevant