What Bothers You and Why?

In a recent Bloomberg article about Zimbabwe, a novel idea about bringing that country’s inflation down to a manageable level was cited: backing the Zig, the Zimbabwe currency, with gold from their gold mines.

What bothers me is that backing Gold with a nation state’s paper money is a time tested strategy that has worked for thousands of years. The IMF also stood incredulous that not following their decades of advice to borrow money from them based on the US dollar of currencies–which burned their currency’s value to the ground–warned that this “novel” idea may be a disaster! The disaster has already happened! Over and over again, and the African’s are done with this!

Nana Yellen, a person whose job it is to promote sound money and run our US treasury, also recently stated that other countries are uniting together to bind their currencies to gold and trade in gold vs. debt based paper created by the US treasury department. That perhaps our US sanctions against them may be causing them to leave the dollar-based debt fiat system. Hallelujah! Maybe Nana Yellen will take back Tricky Dicks “temporary” removal of the US dollar off the gold standard on August 15, 1971! Dear Reader, has your standard of living increased or decreased since 1971? Do you agree that fuel and food should not be used to compute inflation?

Yes, this bothers me.

You gotta love Ron in his basement in suburban St. Louis. I laughed so hard in this above YouTube video. Here’s the reason why:

Here’s a another “novel” suggestion: issue T-Bills backed with Silver as silver certificates for 1-month, 3-month, and 6-month T-Bills based on 30 dollar, 60 dollar and 120 dollar per ounce of silver–and to start issuing 35-year Treasuries based on a new reset $3500 per ounce US dollar Gold and 50-year Treasuries based upon $5000 dollar per ounce of gold. Do you think that other countries around the world, including Central Banks, would buy our bonds? Hello Yellow?