A free thinking, and abundant society is built off the mutual exchange of goods and services. Capitalism, for the first time in history, leveled the playing field away from ‘dignitaries’, and allowed all men to become equal and trade goods and services between each other.
Capitalism, in its purest form, guarded by the people with a limited government, has allowed the largest leaps and bounds of science and technology in history.
Up until the 1920’s there was a gold standard for money, and it meant that in all developed countries, your money had a value to it and was backed by gold. During the gold standard, money always retained its value.
After the gold standard, the world switched to a fiat currency, which is backed by ‘trust’ in the stock market and government. As more money is printed on paper, the value of it becomes worth less and less, because there is more of it circulating. Special interest groups gain more fiat money that is printed, while the working class lose the value of their money, while making no more than they were before.
Click here for a history of the US Dollar
In 1924 you could buy a Model T for the cost of about 3 months wages. How many cars can you buy for 3 months wages today, based upon the median American income?
This is all due to deflation of value. We call it inflation of the markets, but all we’re really doing is raising prices and lowering the value of our products and money.
The biggest money scam in history took place at the end of 2008 during the presidential debates with the bail out funds.
Unfortunately our capitalist system has been hijacked by special interests and crony capitalists.
Some say that socialism is the answer. I say that it is not, as it drags everyone down to the lowest level of mediocrity.
Click here to see why socialism fails.
Others say that money is the root of all evil. To which I contest. Watch this video:
“Money demands that you sell, not your weakness to men’s stupidity, but your talent to their reason.” – Ayn Rand
Money is not the root of all evil. I contend that corruption is the root of all evil. Without corruption, special interests and the looters of society, we wouldn’t be in the financial mess we’re in today.
Come to think of it…are WE really in a financial mess? After all, its the governments and special interest groups that caused this mess. We’re simply the enablers, the ones who didn’t do anything to stop it from happening, and now we have to suffer the consequences. Check out yesterdays post to see why YOU are to blame. And stay tuned for tomorrows blog on who I think can help us out.
I believe that with a gradual return to the gold standard, and ‘sound money’ we will return to a strong dollar and return our purchasing power. Our work will become more meaningful, since our money will become more valuable, and if coupled with de-regulation and tax cuts, our economy will begin to regenerate and thrive once more.
5 thoughts on “Money; Capitalism and the Gold Standard”
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