Two Kinds of Gold Standards
by Gary North
August 26, 2003
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This is why the free market is the only reliable source for the re-establishment of a gold standard. Honest money begins with these steps: (1) the revocation of legal tender laws that require people to accept the State’s money; (2) the enforcement of contracts; (3) laws against fraud, which fractional reserve banking is. The free market can do the rest.
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Clearly, we can NOT get the Gooferment back inside its Constitutional bounds while it has an unlimited line of credit.
The Gold Standard, a real one, not an ersatz Gooferment one, can restrict that Gooferment to only spend what it has or raises.
The debate over tariffs, taxes, and fees are a separate issue; once you close the “barn door”.
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