This is a wonderful article by Dr. Vieira on where the world needs to go, in establishing a true, unadulterated Gold standard as the basis of the world’s financial system. The only thing that needs to be added to it is a discussion of the Real Bills Doctrine of Adam Smith; the ‘Clearing System’ of the Gold Standard.
Without a proper clearing system, the Gold standard can not survive… as indeed it failed in the nineteen twenties, when Great Britain made an attempt to return to the pre-WWI Gold Standard, but without resurrecting the Real Bills system… the attempt failed.
This time around, we must not fail!
Professor Fekete is writing a complementary article to Dr. Vieira’s wonderful essay… and his article will be posted as soon as the Professor finishes writing it.