Retiring the National Debt

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It’s Time to Start Retiring the National Debt:

Most Americans know that our country has a huge and growing debt problem. Most think that is a bad thing, but it never seems like an immediate threat. Imminent threats such as terrorist strikes do catch everyone’s attention and do call for action by our politicians and policy makers, but national debt doesn’t.

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The Upsides to Returning to Gold

Now, since basically no one noticed when Nixon took us off the gold standard (me included), I see no reason to try and argue the case for returning to a gold standard by trying to educate the electorate on this matter. Rather, we just need to educate a presidential candidate and influence his pick for Secretary of Treasury. Ideally, a Secretary who understands this subject. Then we need to elect members of Congress that believe in the sanity of a gold standard, and act on it. And that’s the end of my sermon.

What are the upsides of returning the dollar’s link to gold?

(1) No more inflation, which benefits savers, i.e., the value of money put into savings is “protected” from eroding away through inflation.

(2) Businesses that plan to expand would now be able to reliably predict future expenses, thus stimulation of business expansion.

Check out the other upsides in my book Return to Capitalism !

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My book is about the future, and the readers I wish to attract are the younger generations, especially those people attracted to liberal, progressive and socialistic ideals. The young tend to reject capitalism because anti-capitalism is all they’ve been taught. Thus, they believe that business is in the business of making money and not helping the poor or the environment. They have established views on the horrors of greed.

The Gold Standard

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Inflation can be ended when the country gets back to operating under the discipline of a gold standard. Hence, I’ve written a chapter explaining what this is and how it works, but basically, operation under a gold standard would work like this: for Congress to spend more than the government takes in as revenue would lead to an increase in the rate of interest. In this scenario, as the interest rate climbs, the electorate will at some point be fed up with the pain that high interest will incur, and the public will demand that Congress put a stop to it.

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Scientific Pursuit of Truth

Giants of EconomicsSome might argue that economics isn’t really a scientific pursuit of truth, as say, the science of chemistry is. Once with staid and settled principles and rules, chemistry in “the old days” started in a rough and tumble way such as searching for a way to turn base metals into gold. The political discourse in economics in recent times sometimes goes beyond the pale. And if the president and secretary of the treasury have trouble understanding primary principles, it’s no wonder that most of the public can only be baffled by economics. If I can help in the understanding of what usually becomes the main deciding issue in national elections by emphasizing salient works from some truly gifted writers and take it to the mass markets, I will have done my job.


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What’s Your Motive?

I define the entrepreneur as one who envisions and creates a more advanced and cheaper good or service with the potential to sell in greater numbers to more people for more profit. While we tend to think of entrepreneurs as those coming up with revolutionary and break-through things that make the inventors and developers immensely rich, these individuals are rare. Bill Gates comes to mind. The extremely numerous and more common things all around us, such as cheaper yet better-built houses, were also the products dreamed up by entrepreneurs. Again, they were driven by the profit motive, and these people became affluent through their productivity, and many people benefited.

Do you agree?

Grab a copy of my book, “Return to Capitalism,” to start the conversation!