Welcome, I hope you are stirred and intrigued by my views regarding this idea called Government.
About Me
- Brian Glover
- Austin, Texas, United States
- i'm looking for my voice and identity.
Monday, April 25, 2011
Responce to Mora's Post
Friday, April 15, 2011
I love Gooooooooooold
Breaking news, gold and silver are once again legal forms of tender! Not really, although it may be coming closer to reality and I for one am all for it. The Beehive State, or Utah as it is more commonly known, became the first state last month since 1933 to recognize those precious metals as legal tender. To be clear one cannot just waltz into a Starbucks and expect to exchange a gold coin for a cup of coffee, instead the Federal Reserve will be required by law to make all of their notes redeemable for gold, and additionally the printing of U.S dollars would be weighed against the value of gold. Growing up I assumed bank notes were used because we the weight of carrying actual silver or gold was too burdensome, and that a bank note had some sort of relation to our federal reserves of gold. It was not until recently that I understood this system of using a gold standard was not possible in this economy we have today, the total amount of gold that has ever been minted is less than the value of circulating money in the U.S. alone, and returning to a gold standard would shoot the current value of gold so high it’s use would be terribly limited. This has me worried because I feel the future of the dollar is not looking good, inflation is rising and there needs to be options for our economy, Professor of Economic Lawrence H. White from George Mason University states “…it's a statement by the state legislators that they are concerned by the state of the dollar, people need to have an alternative if the dollar melts down.” I understand this is not an end all system to prevent future crisis, but if we can stop the Federal Reserve’s habit of endless printing of money which weakens our dollar and weakens our way of life then let’s do it!
response from article:
http://abcnews.go.com/Politics/tea-party-momentum-utah-bill-brings-gold-standard/story?id=13377409&page=1