From the Inner Circle (USA) –
Gold-backed money is a highly charged subject. There are plenty of strong opinions both for and against. But Bill was clear about why he supports a return to the gold standard. Gold-backed money would be a “stake” driven right through the “black heart” of the Establishment… and the Deep State. Bill:
The whole world’s financial system is built on a corrupt dollar. Gold-backed money is very different. It has real value. Because you can’t increase the quantity of gold at will. And you can’t provide unlimited phony credit to the world economy.
And that’s a big problem for the Deep State… the cronies… the zombies… governments… NGOs… Wall Street… and big business – all depend on this credit-based, corrupt dollar system. Bravo to Ted Cruz for proposing to end it.
As you can tell from the reader feedback, some folks don’t just disagree that a gold standard would be preferable to today’s fiat (unbacked) system. They also believe a return to the gold standard is highly implausible.
But is the idea of scrapping the fiat money system and returning to a gold-backed currency really so out there?
Our man in London, Dan Denning, recently sat down with John Butler, the vice president of precious metal custodian GoldMoney… and an outspoken advocate of the gold standard… to explore this question further.