Whenever times are tough and the economic system falters, the content begin to doubt and reflect – arguably a dangerous combination – on the strength of a perception that the status quo, the daily pushing and pulling of an overly commercialized world, holds sole legitimacy over a way of acceptable existence. Seeds of doubt, like a road-crews favorite plants on asphalt, have a knack of fracturing and ultimately breaking free from their containing edifice. Plastering over these advances is crucial to maintain order and smooth sailing, as car-with-below-standard-suspension drivers can attest too – things might get bumpy!
The recent call for a return to the Gold Standard symbolizes such a fracture in a system that has made it its job to forget about the once so prominent form of currency. While there are many pros about having a gold standard, such as preventing run-away inflation and limiting out of control government spending, I have my doubts as to gold’s role in the current economic order and believe that our economy, as it stands today, has outgrown gold’s usefulness as a backer of our paper money. Compared to the 1970’s, when gold was last used, there is substantially more money in the economy today. Linking this money with a limited amount of gold would mean a substantial loss in value for each and every dollar; inflation aka price increases would have to kick in. This is my perception, and if I am wrong, I would be happy to be proven so.
But, this article is not about the Gold Standard per say, but about the FBI’s warning that there exist in our society “sovereign citizens” that profess to be outside of the law. Shame! These extremists, so the FBI, “may refuse to pay taxes, defy government environmental regulations and believe the United States went bankrupt by going off the gold standard”.
While I appreciate the first two comments, the part about the gold standard made me smile in disbelieve. Gold Standard proponents = extremists? What a world we live in!
What I would like to highlight however, is that if the were to read the FBI warning without the added ‘Gold Standard’ bit, then one could very confidently, with a hat’s of to the Gods of irony, equate the FBI’s ‘sovereign citizen’ with the average genius on wall-street. After all, who expresses most adamantly his outrage at tax collection, putting “Internal Revenue Service employees at risk” and who is most strongly opposed to government authority and tends to defy government environmental regulations than the individual standing knee deep in tax-evaded, insider trading derived and corruption based money? For all you bankers out there that profess to be good guys, I am sorry to say that a few greedy god playing individuals have ruined your once so untarnished reputation as honest broker and facilitator of our monetary needs.
From this perspective, I would have to applaud the FBI for finally realizing that government authority defying, risk loving, don’t give a damn individuals on wall-street do pose a threat. Is it not they that have plunged the world into an economic crisis? Are their acts not extreme? Should we not worry more about their doings than about the average citizens attempt to hold on to whatever meager dollars that come his way?
Just to end it on a whimsical note: why should we pay taxes anyway, if all our money ends up being miss-spent, lines someones coat pockets or is used to subdue nations which, like our sovereign citizens, defy an overly hegemonic system? I don’t know, do you?