Sunday, July 10, 2011

Moving Forward to a New Digital Gold Standard

This is a great article on how we can use gold & silver in everyday transactions. It answers the points raised by oh-so-many legislators:
  • "Gold and silver are too heavy to carry around a bag of metal to pay for everyday purchases."
  • "Gold is too valuable, we'd be using pieces the size of rice to try and pay for things."
  • "It's impossible to make change using gold and silver, the coins are not physically divisible at the cash register!"

    The proof that we don't have to do any of that silliness is found in already-existing Digital Gold Currency. DGC lays the foundation for moving to simply doing what people are doing already - using digital money in everyday transactions - but using check cards & debit cards that are backed by gold & silver rather than Federal Reserve Notes (or whatever other government legal tender you're forced to use).

    I understand - it can be difficult to wrap your head around the fact that gold and silver are money, and money doesn't have to take the form of nearly-worthless pieces of paper like we have today. But please - these legislators are Members of the BANKS AND BANKING committee. Surely...

    It's time to return to sound money, that holds its purchasing value. The Constitutional Tender Act can help begin that process.

    by Mark Herpel, editor of Digital Gold Currency magazine

    In my everyday conversations people always ask me, "are we going back to the gold standard? Is that what you want?"

    I have to laugh and respond by saying, "yes, back to the gold standard of the 1800's and on your way out today, please turn in your car keys and pick up your horse & buggy."

    We can't go back in time. We can't wake up one day and pretend that the cell phone was not invented or the Internet doesn't exist. Once the blind man gets his sight, there is no going back to the darkness.

    As both Lewis E. Lehrman and Ron Paul say, we should be "going forward to a new gold standard".

    The move from legal tender paper to voluntary use of gold and silver has already been occurring on a state by state basis in the U.S.

    By giving people the option to use sound money over paper currency, slowly but surely, the state legislatures are offering real protection from ongoing paper money inflation. ..


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