| Sometimes people ask me: “How do we transition to a gold standard system?” People think it’s really difficult. Actually, it can be very easy. The easiest, simplest, fully-operational form of a gold standard system could be implemented in ten minutes. It doesn’t cost anything, and doesn’t require any gold bullion.
I don’t think it is the best system. But, it is fast and easy, and fully operational. The better classical economists have always known that gold bullion itself is not really necessary for a gold standard system. Gold is the “standard,” in other words, the “standard of value.” It is just something you compare against...............................................Full Article: Source
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