In this vid, Brother Nate goes against Ron Paul. Not sure how I feel about it.
Brother Nate is wrong on this. Fiat currency, he says, is fine so long as its volume is fixed. While this is theoretically true, what he fails to understand is that if people are in charge of the volume of currency, it will always be expanded for one excuse or another, thus robbing its possessors of its value and transferring it to whatever corruption was behind expanding it. It's human nature.
The beauty of permitting gold and silver to serve their natural functions as money (which would mean, in part, making it a serious crime to print up more currency than there is gold and silver to back it) is that
you cannot print any. Mining is hard work, and only produces so much annually no matter how hard they try.
His suggestion that legally freeing gold and silver for use as money again would result in massive starvation is an argument made by someone who doesn't actually understand the free market, someone who places his trust in government managing the market instead. In a truly free market, few able bodied people would starve because there'd be an over abundance of available work. And private insurance, family, and charity, take care of those who are not able bodied far more efficiently than government programs.
