Wednesday, September 21, 2011
Bill Still: There is No Gold at Fort Knox
Which part of his argument do you agree with?
Commercial banks are responsible for 90% of inflation because of the fractional reserve banking system. If this is true, than what Still says about controlling the money supply has merit. A gold standard with fractional reserve banking is only a slight improvement over what we have. It seems to me we need to end the criminal banking cartel that is the Federal Reserve and also the fractional reserve banking system.
Why not have gold and silver compete with interest free money? Let the free market decide. It least both options are based on sound money principles.