A GOLD STANDARD? Blog #28

Good Afternoon, Campers, old Buster doggie here to give you a bit of info about good old Steve Forbes’ new book entitled Money.  Here, folks, you have a fellow who surely understood old Tom Piketty’s advice long before Tom wrote about it.  Steve chose his parents with great care.  His Dad, Malcolm Forbes, took the family business, Forbes Magazine, to great heights of success through the glorification of conspicuous wealth.  The ads in Forbes are definitely not aimed at your “middle class” audience.

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Gleeful Capitalistic "Forbes" Readers
Gleeful Capitalistic “Forbes” Readers

Steve has continued in his Pappy’s footsteps, and in a recent issue has touted the NFL’s 32 Teams being worth some 45 Billion Bucks, up 40 percent since 2010.  Real Nice!  Of course, the NFL has been embroiled in their domestic violence scandal which is getting lots of press at the moment.  Are these cases really a surprise when one considers how we idolize these young men for brutalizing one another in this vulgar “sport?”  Also, last week the NFL reportedly had to admit in a legal filing that nearly one third of NFL players will suffer dementia, depression, and other disabling cognitive problems from years of head battering.

Well, publishing is not what it once was, and Steve is reported to be selling a controlling stake in the family jewels to a Hong Kong investment group.  So goes Capital in the 21st Century!  In the meantime, trading on his obvious intimate knowledge of money, Steve recommends in his book on the subject that the world’s currencies be tied once more to Gold.  He and a collaborator, Elizabeth Ames, have developed this concept in great detail in Money, and at the book’s end even give us advice on surviving until a Gold Standard can be reintroduced in our U. S. currency (supposedly reviving govamint accountability), as well as in much of the rest of the world.

This discussion is a bit esoteric for an old hound dog, so I’m unable to comment on the veracity of their argument.  Howsomever, old pappy remembers Steve’s unsuccessful run at the Republican presidential nomination a few years ago when he ran on a Flat Tax Platform.  Few, if any, taxpayers had any idea what that would mean to them (except possibly the very rich and of course their tax lawyers who would be facing unemployment), and I’m guessing the same would be true for the Gold Standard.

Does anyone want to talk about the problems facing our dear old country?  Maybe like California’s epic drought, and living a bit more sustainably?

Buster Pondering the News-w

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