The Chinese and the Russians and the Indians are calling for another global money system to replace the dollar. Many people are today calling for a return to the gold standard, citing the benefits of a stabilized monetary system.  Detractors of the gold standard say precious metal has been tried before, and always found deficient in providing enough capital for a modern society, since a finite amount of gold will only back a finite amount of paper money, thus throttling the economy.  Is the answer the monetary system we now have, fiat money, paper backed by nothing?  I have the solution.

 

 

I’m not quite sure that using gold

Is quite the way to go

Please bear in mind that we’ve been told

Economies will slow

‘Cause gold is rare and small supplies

Can’t back the cash we need

So what else can we monetize?

How ‘bout the stuff we bleed?

A corpuscle’s a handy thing

Just like a credit card

A little nick, a little sting

That shouldn’t be too hard

What’s that you say, that’s what they do

We’re paying now in blood?

The gold is for the wealthy few

And we’re left with the crud