“It is actually possible for this modern monetary theory idea – government should just print whatever money it needs then spend it – to reach the stage that tying the money supply to the productivity of the mining industry is a good idea. Or, perhaps, it is possible for governments to be so incompetent that it becomes that good idea.”
USAGOLD note: Why is it so difficult for thoughtful individuals to declare themselves gold bugs? We’ve never appreciated the term but we do appreciate the sentiment attached to it. Though we do not see a gold standard on the horizon, we do see the need for private gold ownership in an environment of declining currency values and rising systemic risks.