Zimbabwe Launches New Gold-Backed Currency: Will it Work? with Palki Sharma

Recommendable! The first country to reintroduce the gold standard in the 21st century! Zimbabwe is a country where several currencies were replaced in recent years. Several foreign currencies are in use in this country. Inflation is rampant ...

Young Shoppers say they’ve hit an investment gold mine with Costco’s gold bars.

Monetarists have been waiting and longing for decades for gold to be rediscovered as an investment and store of value! Is the return to the much vaunted gold standard  imminent? (just kidding)

What does it say about the prospects as younger people as they see it? Or is it just a transient mania?

"The retailer started peddling them last year and has been selling out within hours. Customers, especially younger ones, see gold as a hedge against catastrophe. Some millennial investors say they don’t trust the financial system, especially after last year’s bank failures, while others cite a fear of hyperinflation, the ease of buying and selling gold, and its history of doing better when the economy does worse as reasons to buy. The precious metal has been hitting record highs. Meanwhile, in the state known for its historic gold rush, a coalition of California businesses gathered enough signatures for a ballot measure that would require two-thirds of voters to approve most local tax increases and roll back some already in place."

The Wall Street Journal What's news

Misguided Demand For A Return To The Gold Standard

Western Central Banks Are Culpable For The Great Recession

There is little doubt in my mind that the central banks (big government entities) of Western countries are to a large extent responsible for the Great Recession and the rapid and unsustainable expansion of government debt that has occurred over the past two decades.

Twice in the last ten years Western central banks have lowered the price of money (key interest rates) to nearly zero for extended periods of time and they still continue this reckless policy as I write this blog. In at least to other, previous blog posts, I have discussed this issue in more depth.

Return To Gold Standard To Reform The Monetary System

Thus, it is understandable that central banks have finally come under enormous scrutiny. Alternatives to the current, perceived to be broken, monetary system are being considered. One possible alternative, which has garnered some popularity, is the call for a return to the Gold Standard.

Digital Money Is Next

Gold is totally antiquated and nostalgic. We are on the cusp to introducing digital money.

Gold is easily manipulated and dependent on mining, jewelry demand, and human save haven fears.

Only Luddites would call for a return to the Gold Standard. The only thing, I believe, was a benefit of the Gold Standard is that it quasi represented a single, global currency or a point of reference with all its consequences.