Pirates, all of Them

I was intrigued this morning by a piece by Neil Reynolds writing in the Globe and Mail about the return to the Gold Standard. He quotes Canadian born economist Dr. Robert Mundell extensively. Mundell has evidentially been predicting a return of that shiny metal as a backbone of our modern economies since 1997. And, now he is backed up by World Bank President Robert Zoellick who is suggesting that the world needs to embrace the gold standard.

To be honest the world economic system all seems like a bit of a shell game to me. Economies seem to rise and fall because of how a group of insecure people feel about them on any given day. The value of currencies being affected by events like North Korea feeling a bit randy one morning or a politician's unfortunate ad lib. It doesn't seem real.

But gold? It is really of very little value except that it is kind of shiny and makes good jewelry. I am not sure I get it.

Or, perhaps I do. I wasn't all that long ago when the world economic system went into free fall that critics were referring to our world's bankers as a bunch of pirates playing loose and free with what is essentially our money. Perhaps it is all beginning to fit together.

I think Michael Flaherty would look good with an eye patch and a three cornered hat. Bring it on.

All together now:
Sixteen men on a dead man's chest
Yo yo ho and a bottle of rum

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