Monday, January 9, 2006

Why government control of money is bad.

And why a return to the gold standard (at a minimum) or to a more realistic economic system of free trade and bartering should be on everyone's mind.

Consider this interesting editorial regarding inflation, devaluation of currency, and the issue with the printing of more money with nothing to back it up. Essentially, as the government has printed more money, the value of that money has decreased (duh?). Now the article doesn't go into the increase in incomes or wealth, so it doesn't paint the entire picture. But it sure is something to think about.

Oh, by the way... the fed isn't going to report M3 any more, so maybe we'll just forget about it and go on our merry way.

Links via Catallarchy

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