Gold Standard Here We Come?!

In South Carolina, Representative Mike Pitts put forward legislation to ban Federal currency and replace it with gold and silver coins.

If the federal government continues to spend money at the rate it’s spending money, and if it continues to print money at the rate it’s printing money, our economic system is going to collapse. 

Unfortunately, it seems he still sponsors the mandating of a public currency coming in the form of gold and silver coins. While this is a vast improvement over the current fiat standard, it nevertheless mandates a particular currency rather than allowing various currencies to compete. Still, I guess any port in a storm is better than none.

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