18 May 2016

Why A Gold Standard Is Not Required For Money Creation, Only That The State Is In Control Instead Of Private Banks



Please excuse the quality, I recorded this on a phone. It's just my attempt to clarify why (despite gold being the best form of money) the only critical factor for prosperity is that the Sovereign State, accountable to voters and the constitution (known as democracy) is responsible for creating money at no interest.  This can still be a Fiat money system. The current system of private banksters creating money out of a debt system (also having independence from democratic accountability) is called a Plutocracy and is fundamentally against the free market and democracy in all forms.

This is not related to why gold is undervalued and why it is about to surge in value, it is a seperate issue that does not change the fate of gold specifically.