Main Menu
Login | RSS |

Honest Money and The Gold Standard

February 13th, 2009 by Viv

The United Kingdom, already financially moribund after 12 years of socialist rule is yet another a sad example of monetary madness, as they prepare to emulate Mr. Mugabe’s example of “stimulation” by money printing on a grand scale.

Who would have thought that this once great nation which was the modern founder of sound money, could descend to such relative penury.

President Obama and Prime Minister Rudd are too embarking on the Mugabe recipe.

It was Sir Isaac Newton when he was made Master of The Mint in 1717, who declared: “If this nation is ever to prosper, it must have honest money. That is, we must have a standard by which money can be measured. In order to calculate, you must define the unit. Therefore, from this day forward, every guinea will be worth 129.4 grains of gold. Thereby, we intend this currency to hold its value.”

So seriously did he take his views that counterfeiters were hanged. It is a great pity it isn’t still a hanging offence, we would get rid of the Central Bank and a raft of corrupt senior politicians all in one hit.

Ronald Kitching

Posted in Letters | No Comments »

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.