Ned6 Wrote:
Jan 02, 2013 1:35 PM
True monetary reform will be complicated but necessary. However, there is an easy first step: Get rid of capital gains on gold and silver, and allow "gold based" time contracts. For example, instead of $100,000 due in three years at 10% interest, one might write a contract for $100,000 converted to gold at today's price. In three years, that amount plus x% in gold could be converted back to dollars at the conversion price on the contract's closing date. The availability of such arrangements would hold the Fed's feet to the fire on inflation, and act as a stop-gap measure while we fix the system.