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Old 10-09-2005, 08:54 PM
freeman freeman is offline
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Join Date: Nov 2004
Posts: 914
Default Re: Bye, Bye Old Dollar Standard

Barbara, I believe this and shannow are referring to the Bill Still plan for fiat currency from his Money Masters video, an excellent documentary.
Essentially, Still would eliminate the interst and fractional reserve banking, as well as the central bankers themselves. The power of coining money would revert to the Federal government, who would try to maintain a balance between supply and demand, only creating more money as the economy expands and requires it.

The Money Masters

Of course, the flaw in his theory is that it still requires intelligent, uncorrupted men within the government to make the monetary decisions.
I'm not certain we could get back onto a gold or silver standard without an enormous currency devaluation.
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