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"Now is a good time for the major economies of the West (and ideally the world) to sit down and work out a new international monetary order," according to a report in the Financial Times. Excessive monetary incentives, a by-product of an "undisciplined" fiat monetary system (excessive money printing), create problems for our economy as well as financial distortions, and the long-term solution is a monetary fresh start with economies moving away from that system and the reintroduction of a gold standard get things going, according to renowned economists.

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“There are many financial bubbles, there are excessive debt levels, and inequality is growing. All of these side effects of a fiat money standard are not really what we want and we end up getting a lot of money instability. I think we have to go back to a gold standard”, Nieuwenhuijs, analyst.

 

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