A power-hungry treasure hunt: Why we’re all casualties in the state’s war on gold

A power-hungry treasure hunt: Why we’re all casualties in the state’s war on gold

By Alexander Boot

Daily Mail

January 26, 2012

Two of the Republican candidates, Newt Gingrich and Ron Paul, have come out in favour of the gold standard, the former (who hopes to win) obliquely, the latter (who knows he won’t) in earnest. Both realise that a currency pegged to the country’s gold reserves would put paid to the rampant statism of modern politics.

That’s why it’ll never happen, in America or anywhere else. So our politicians can continue to play their little power games with impunity.

It’s a given that politicians have always sought power. However, in the past, when Christianity still provided a unifying moral force in the West, many of them (though of course far from all) saw power only as a way of achieving some desirable ends. When that was still the case, the gold standard was the norm. Britain adopted it in 1717, the USA in 1834 (de facto), Germany in 1871 (immediately after her formal unification) and so forth.

Modern politicians, on the other hand, see power as an end in itself. When this became commonplace, they had to look for ways of increasing their power, and the choice was limited, what with violent coercion being out of fashion in the West. That left control of the money supply as the clear winner, and the gold standard as the loser.

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