Originally posted Thursday, May 17, 2012
“People have lost faith in the 20th century religion of government backed fiat money.”
The greater recognition of the respectability of the gold standard is evidenced by a respectful articulation of the arguments for the gold standard by senior journalists for very mainstream publications.
The Economist‘s New York bureau chief, Matthew Bishop, has co-authored a new Kindle eBook, In Gold We Trust? The Future of Money in an Age of Uncertainty.
In a recent video interview with the Wall Street Journal:
Q: If you are such a man of the 21st century are you a believer in gold which seems to be such a antiquated, maybe quaint, notion?
Bishop:
Gold does seem to in a way hearken back to another age, doesn’t it. But I think the reason it has come back into fashion in the last ten years as we write In Gold We Trust people have lost faith in the 20th century religion of government backed fiat money. And they are saying actually at the moment we don’t really trust governments with our money. You know what’s happening with the euro and the dollar, how so much of its been printed under QE.
We don’t trust this any more. They are going back to the old religion of gold.
I guess I’ve become about an agnostic/atheist about government based money.
Five stars in its Amazon Review. Sample: A compact punchy romp through the long and fascinating history of money — and the role of governments. Though brief, hits the crucial issues. Fine analysis of the current issues too. And beautifully written of course.
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