But gold itself will not be required as coin. It is the unit of account that matters, not the actual presence of gold in the account. Any other commodity can be held in reserve, so long as it is not debt. The standard of measure of value, is based on the value of gold, but any commodity, (Silver, Platinum, Paladium, Uranium, Oil, Gas, Real Estate), can be used as Capital.

This is how Capitalism Works. Debt is not Capital, it is the opposite of Capital. Capital meets Debt, Debt disappears, Capital Remains. This is Capitalism.

Every Empire in History that started down the Debt-ism Economic trail, the one we are on now, has failed completely and without exception. All of them had Central Control of the monetary system. All of them debased (that means removing the standard of value) their currency.

We cannot remove the value from the money, replace it with debt, circulate it in the economy, and call it progress because it appears to work for a few years. It’s not working now, and History has shown that it won’t.

Sound money, the kind that rings when you drop it on the table, is what we need to have a free society and thriving economy.

How much beer will a $10 bill buy in 2020? You can’t answer the question, you have no unit of account that has value over time!

The fact that gold has been universally used as Money and a safe, reliable means of storing and protecting One’s wealth for literally Thousands of Years, stands in direct rebuttal to Mr. Picerno’s hollow assertions, referring to the gold standard as: “

As alluring as that might be in concept, in practice it would be unworkable in the long run.”
So while actual history, and the public domain is literally filled with facts and evidence to refute Mr. Picerno’s Keynesian Kaleidoscope of Krap, I guess as long as one can literally talk out one’s a** on subject matters even though lacking any formal study, training and legitimately recognized credentials in such, and nevertheless still manage to get paid, THAT apparently is all that matters.

It is better to remain silent and merely thought a fool, then to speak and remove all doubt. Abraham Lincoln

We are all born ignorant, but one must work hard to remain stupid.
Benjamin Franklin

Leviticus 19:36; Deuteronomy 25:15-16
I John 4:6

Wisdom is the principal thing; Therefore get wisdom. And in all your
getting, Get understanding. Proverbs 4:7

“vivus spartacus”
All Rights Reserved

It is the common fate of the indolent to see their rights become a
prey to the active. The condition upon which God hath given liberty
to man is eternal vigilance; which condition if he break, servitude
is at once the consequence of his crime and the punishment of his
guilt. John Philpot Curran (1750–1817)

Find out just what any people will quietly submit to and you have
found out the exact measure of injustice and wrong which will be
imposed upon them, and these will continue till they are resisted
with either words or blows, or with both. The limits of tyrants are
prescribed by the endurance of those whom they oppress.
Frederick Douglass, “If There Is No Struggle, There Is No Progress”

Let us not forget that the largest economic crisis the world has yet seen – The Great Depression – took place under the watch of that selfsame Central Bank the author now espouses as our only hope and savior, not to mention this latest crisis, which was devised under an even more destructive fiat monetary system with the gung-ho support of Greenspan, Bernanke, and a government bent on borrowing our children’s monetary unit and futures into utter oblivion.

This child-like insistence on believing in the benevolence of central banks, or politicians for that matter, in setting interest rates artificially, or controlling the money supply is cute in its short-sightedness and innocent trust, but dangerous as a toddler with a butcher knife.

Any system that punishes savers with debasement and inflation is NOT a sustainable system! It’s really just that simple. And this notion of a “lender of last resort” that can step in a bail out the “too big to fail” is the very thing that continually encourages malinvestment and inflates ever bigger bubbles in the first place. Without this moral hazard, there wouldn’t be a problem. Investors would realize they have to be responsible, that there’s no free lunch, and they cannot rely on the American taxpayer to bail them out when they get themselves in a pickle. In fact, it is the people at large, the middle class, who would benefit greatly from a return to a TRUE gold standard, for they would be in line to scoop up the assets of faltering companies for pennies on the dollar, rather than having the Fed scoop up the assets and redistribute them to their fatcat buddies without ANY congressional oversight from the people.

I suggest this author rethink his premises and return the drawing board.