Ron Paul on the Gold Standard
Earlier, I questioned how reasonable it is for Ron Paul to say that the American economy should return to the gold standard, rather than the fiat currency we currently use. I still don’t have a good idea of he would make that transition, but now I have a much better idea of why he believes it’s important.
Let me recommend this long but very interesting essay from Ron Paul about the state of the US dollar. What I now understand is that Ron’s desire for an economy based on the gold standard is not just an idealistic goal (like saying “wouldn’t it be great if communism really worked”). It’s a financial and even moral imperative for our society.
Ron’s essay reads a little like a conspiracy theory (e.g. U.S. military involvement in Venezuela, Iran, and Iraq were based on our need to keep oil prices tied to the US dollar rather than the euro), but it reads more like an extremely rational and historically compelling theory.
If I thought Ron’s essay was crazy, I would say “read it with an open mind.” But I can confidently urge you to read it with a critical mind. Honestly, is there some crackpot element that I didn’t notice?
