Rhetorical Contempt for Gold

Hold tight, wait till the party's over
Hold tight, we're in for nasty weather
--Talking Heads

Nice article that includes discussion of the Left's 'rhetorical contempt' for the gold standard. The argument that declining prices, as facilitated by a gold standard, are 'bad' is perhaps the most laughable. The author also focuses on the argument for the autonomy of central banks, rather than people voting thru their own actions--i.e., converting to gold when they do not trust monetary policy.

The gold standard imposes discipline on the State. The State of course does not want this, and tries to convince the public that such discipline would be bad for them.

What I find most ironic is that the Keynesian argument persists despite exploding debts, rocketing money supplies, and eroding standards of living that have occured during increasingly Keynesian regimes.

Arguments the favor of the State and monetary debasement as the way to wealth never cease to amaze.