The Gold Standard Is the Only Way to Prosperity.
N.B.: This report was published earlier on Steemit as D.tube had technical problems uploading.
In this report I cover the early market action from London on Thursday, September 6th, 2018. I look briefly at the precious metals, the stock market, the dollar and the oil price.
Today I compare and contrast the British and Swiss economies since 1900. I found that in 1900 the U.K. had the highest GDP per capita in Western Europe including Switzerland. Back in 1900 sterling was on a gold standard as were all the other currencies.
What I found through the last hundred years though is as most Western nations left the gold standard and sound money the Swiss continued to back their currency by gold (40% backing) until 2000. The debasement of the British currency versus the Swiss franc has been severe. In 1945 £1 could buy CHf 17 while today £1 will get you CHf 1.25!
Even though the franc is not on a gold standard anymore the Swiss GDP by 2017 was double the U.K.'s GDP which just goes to show how sound money promotes prosperity. My conclusion is that fiat money and inflation lead to misery while a sound money system or gold standard promotes prosperity.
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Agreed. The present Monetary system has to be replaced. Have you heard of Kinesis ? It's a new Monetary system that uses blockchain and backed by Gold and Silver, and pays a yield (derived from transaction fees ) to all who participate. www. Kinesis.money
I always wonder what the foundation is of the Swiss reputation. They could be viewed as one of the most corrupt nations on the planet (allegations of hoarding Nazi gold, facilitating criminal foreign money). Their bank secrecy is an enabler of corruption. Any nation who called itself "neutral" in the face of Nazism is corrupt in my view. You cannot be neutral against such a threat, if you don't comply with what they tell you to do, and even try to gain from it.
BTW...More cowbell !
If you watch my video from September 4th you will see that Switzerland adopted a constitution very similar to the U.S. constitution in the 1850s and that the bank secrecy laws is simply the protection of private property and privacy. As for the Nazi gold I would say that Wall Street and the City of London were much more responsible for building up Germany in the 1930s than the Swiss. Google Antony C. Sutton, he has written many books about how the Wall Street and London bankers not only financed the Bolshevik Revolution but also the Third Reich.
Ty for pointing this out. It is very rare to encounter persons with a consistent world view.