MONEY: Gold standard; can’t get there until after the crash!

http://dumpdc.wordpress.com/2011/06/24/dreams-of-the-gold-standard/

Dreams of the Gold Standard by Linda Brady Traynham

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Chances are we’ll do better solving that problem than wriggling out of the financial messes caused by corruption, vote-buying, deliberate waste, and pretty fairy tales that everyone can lead a nice, safe middle class life like the Cunninghams on “Happy Days.”

What we really want is a stable currency along with a stable interest rate, traditionally 4%. What are developing are panics, lengthy recessions, stagflation, and growing fright and anger. I pledged to think of something “nice” that could happen, and I can only think of two. First, I could be wrong. Who am I to think I know better than the self-proclaimed “best and brightest?” Well…to be brutally blunt, I think I’m a very nice lady who has had a long, pretty priveleged life who is concerned about the future and usually calls a pig a pig, although I do know how to concoct sentences such as, “As always, it is not the case that stochastic analysis can compensate for human variability.” Meaning that in a world of random chance and individuals anything could happen.

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Interesting?

How does one get back to a “gold standard”?

First, if you’re going to save, you have to save in metals; not dollars.

Second, you’re going to change your thinking. Buying stocks and bonds; price it in gold. IRA or 401k, evaluate it in ounces of something.

Third, you’re going to have to go back to basics. No debt. Pay “cash”. Stock up what you need for the hyper-inflation.

Fourth, think like our depression era forefathers, the Amaish, or the Mormans. Batten down the hatches, we’re in for a rough ride.

Fifth, try your hand at barter, your own business, or anything that you can think to earn wealth.

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