There is no way a handful of people--wise or unwise--in government and central banks can second-guess what markets made up of billions of people might need. We are living through a disaster that is the result of the latest Greenspan/Bernanke attempts to guide our economic destiny through central bank operations.
Imagine if the government decided to increase the number of minutes in an hour from 60 to 70. You can hear policymakers congratulating themselves: "People will work longer at the same pay. This will be a boon to productivity!" Or if Washington increased the number of inches in a foot from 12 to 15: "Home buyers will thus get more house for the same price and that will stimulate home buying!" Preposterous? It's no more foolish than what we and other countries routinely do with our currencies.
The few who dare make a case for sound, honest money are derided as "gold bugs" or worse by politicians and the media but the few are growing in number and their case is growing stronger as indicated by the soaring national debt, a debt which would not have been possible without fiat money.
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