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Ron Paul's monetary policy
Ron Paul is generally a good guy but some aspects of his monetary policy are quite dangerous.
He talks about sound money and going back to a gold standard. Sound money is OK, but tying the value of the currency to gold is very definitely not OK.
Some of the biggest stockpiles of gold are in the possession of the international bankers, and they can manipulate the price of gold. Indeed, until very recently, the world price of gold was fixed twice daily at the London offices of N M Rothschild & Sons. Any country that is on the gold standard risks having its currency manipulated.
A better alternative would be to link the value of currency to a basket consisting of a very large number of commodities, goods and services. This had in fact been suggested by the Nobel prize winning economist Milton Friedman. The basket could conceivably contain commodities like oil, wheat, sugar and steel. Labour should also be an important component of this basket. One would need to judiciously choose what should go in the basket, and how much weight each item is to be given. Then the value of the currency should be fixed in terms of the basket.
Money will need to be pumped into the economy when the cost of the basket falls, and sucked out of the economy if the cost of the basket increases. The money supply could be adjusted so as to maintain zero inflation.
The advantage in such an approach is that it would be difficult for anybody to manipulate the supply of ALL the commodities in the basket. A single commodity, like gold, might be manipulated by those who have large reserves of it.