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