10 Jun 2009

Gold Is Meant to Be Money

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Think for a second about how awful government provision of a service is, compared to the market outcome, in fields like education, hospital administration, and automobile production. Now realize that the government has given itself an absolute monopoly in the money production industry.

Without government central planning, the market would naturally return to commodities like gold and silver to serve as the money. In fact, if you first tried to imagine an ideal commodity to serve as money, you would end up describing gold. I will go so far as to say that religious people should seriously entertain the idea that God created gold as a precious gift (HT2 Tom Singleton) to serve as a wonderful instrument to aid His children in their voluntary trading.

Then blasphemous men came along and replaced the Lord’s wonderful handiwork with green pieces of paper featuring the pantheon of U.S. rulers.

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