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Jamison P. Fellows
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| Posted: Mon May 03, 2004 3:43 pm Post subject: This is the single dumbest idea ever. |
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With all the ills central banking has wrought upon the economy of the world, the idea to globalize it is simply the worst I have ever heard.
Should sane people really trust a single monetary authority with the ability to inflate all of the world’s currency? The only thing that keeps inflation in check at present is the existence of multiple central banks. And due to the nearly universal inflationist policy of all of them, these checks are quite weak.
Once upon a time we had a single world currency and it was a good one. It was called gold. If we really wish to have stability of exchange, private gold backed currencies provide a far better solution. |
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