The IMF is struggling to stabilize the world monetary system, but all the average Joe needs are gold coins.

February 16, 2011 – The IMF is struggling to stabilize the world monetary system, but all the average Joe needs are gold coins. For all intents and purposes the dollar’s glory days are over, its demise only hastened by Bernanke’s arrogant disregard for the global impact of his hot money policies.

Throughout history currencies have been notoriously short lived. That’s just the markets’ way of keeping a level playing field. The transition away from a dominant currency such as the dollar is necessary to restore global balance and need cause only short-term domestic problems. Our government, however, has repeatedly demonstrated its resistance to the inevitable, which can only prolong and deepen the consequences. And we can expect more of the same as the G20 meets later this week.

“The issue of global imbalances has proven contentious at past G-20 meetings, with the U.S. urging major ‘savers’ such as China, Germany and Japan to do more to spur domestic consumption rather than building their economies around exports,” says the Wall Street Journal. The point of promoting such fiscal irresponsibility, of course, is to boost our own exports while flooding the global economy with cheap dollars.

The IMF would like to put an end to currency manipulation and bring some stability to the global market. “The goal is to have a reserve asset for central banks that better reflects the global economy since the dollar is vulnerable to swings in the domestic economy and changes in US policy,” says CNN Money. The IMF proposes replacing the dollar with Special Drawing Rights (SDR), which “can be converted into whatever currency a borrower requires at exchange rates based on a weighted basket of international currencies.”

That would be an improvement, but the World Bank’s solution – including gold in the monetary system – is a simpler and more direct approach. And it is one we can take today by investing in gold coins.

Kevin Johnson

Senior Staff Writer –

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