Paul Krugman... ughh

Is he kidding? From one of the best speeches I have ever seen or heard, ALL the writer seems to get out of it was that America should be using gold instead of fiat paper?

Coins, paper, whatever the medium of exchange, needs to backed by something tangible and valuable. Gold fits that description. Every empire in history has eventually collapsed when they either devalued thier coinage by adding non-precious metals to thier coins; or printed more paper money than they had gold to back it, which in turn devalues the paper. Case in point...a twenty dollar gold piece bought a very nice suit when the coin was actually worth twenty dollars, and it still will. But now if you pay with paper dollars, it cost a LOT more than $20. The buying power of gold is essentially unchanged, it is our dollar that is being devalued.

Ugh, coins? Seriously? Haha, anyway, I love how Paul Ryan has inadvertently brought Ayn Rand back into popular culture-- just in time for Part 2 to come out!