Guest post by Azizonomics.
Gold v paper money: Which should we trust more?
Fortunately, this gives way to some relatively fair coverage:
Detlev Schlichter is a former banker and the author of Paper Money Collapse and he says the current system is fatally flawed.
“The problem is that what we use as money can be created and produced by the privileged money producers – which are the central bank and the banking system.They can produce as much of this money as they like. And so the supply of this form of money is entirely elastic, it is entirely flexible.”
Detlev Schlichter believes this will, ultimately, lead to people losing faith in our current system of elastic money and turning to something that does not stretch – like gold.