Sunday, May 07, 2006

Gold

This is a wonderful little lecture by Walter Block, "Mr. Libertarian". The lecture is about the free-market gold standard, as opposed to the State-run central banking system, and makes a convincing case for the gold standard (or silver, for that matter).

State-supervised central banking is the "norm" in our minds, but a norm that should be disposed of. Central banking is a State-instrument to enable the State to spend more money than it can collect with taxes, creating inflation and sending wrong signals to borrowers and lenders of money (details on that issue). The sooner this can be made clear, the better.

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