Hughesair (Inflection Point)

Retired physician and air taxi operator, science writer and part time assistant professor, these editorials cover a wide range of topics. Mostly non political, mostly true, I write more from a lifetime of experience and from research, more science than convention. Subjects cover medicine, Alaska aviation, economics, technology and an occasional book review. Globalization or Democracy documents the historical roots of Oligarchy, the road to colonialism and tyranny

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Location: Homer, Alaska, United States

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Friday, December 01, 2023

Gold Standard

 One might think about nationalizing all the gold mines to pay off the National debt. Then one might reduce the exchange rate for gold slowly over time to reverse inflation.

However, we mine about 250 metric tons of gold in a good year. That’s 551,155.7 lbs or $17,636,982,400 or 8,818,491.2 ounces at $2,000/oz. At that rate of mining production, it would take 2,000 years to pay off 35.2 trillion of debt. Buy back might furthermore raise the price of treasuries to be re-purchased. Alchemy will be our only gold solution.

Fort Knox as of 2020 was supposed to hold 4.583 metric tons of gold.worth $294,680,000,000. Thats no where enough.

The only out is hard work. We have to stop working from home or not working. End the trade deficit. That alone does a trillion a year. Export petroleum. 18,239,000 barrels in 2020. Thats another 1.3 trillion a year.

The velocity of our economy hovers just above 1.1 x. The GDP is a product of velocity multiplied by money supply. Prior to 2008 the velocity was as high as 15. It should not be too hard to reinvigorate that energy and productivity in our economy. We need a cheerleader however, one with leadership business knowledge and positive message, but mostly a cheerleader. We also need a resurgence in 2 parent family procreation with adequate care and education of children.

Additionally, stop the cannabis. It inhibits productivity and promoted accidents and irresponsible behavior. 

40% of the population works for the government at some level. Lower that percentage with a greater percent working in the private sector. That too will have a dramatic effect on productivity. 

Work harder against illegal drug imports. Criminalize the user, and make safer products more legally available - not cannabis, or cannabis as a controlled substance by prescription. It does have a legitimate medical use, but not among workers.

Quadruple the police forces with funding and training, training, training - even horseback.

Politics are another matter. If nothing else, criminalize all donations as presumed bribery. 


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