Saying the US has a superior system now and saying the same thing in seven to ten years may be inaccurate.
I think we have the potential of having a great system, but there is no political party addressing the issue of the FRB.
The Act of February 12, 1873 (Sec. 14), establishes "25.8 grains of gold" 900/1000 fine (or 23.22 grains of fine gold), which bears the required stamp and impress. The statute says that this is a dollar---not that it resembles a dollar, or that, for the purposes of discussion, it may be considered a dollar, but that it is a dollar. Furthermore, the statute again cuts off all controversy regarding the worth of a dollar; for it says that the dollar (the printed piece of gold containing 25.8 grains of gold 900/1000 fine) 'shall be the unit of value' in our money system."
The US is a far cry from that. Why? Is the government really allowing a private entity handle the production of “accepted” representation of currency for the sake of being convenient?
I think it is hard to really judge the American system until it stops passing currency with debt automatically attached to it vs. currency of wealth.
We will have to see in the years to come as the dollar continues to plummet, China continues to keep us afloat, where the standard currency for oil will be in 5 years, and if indeed the Amero truly is an urban legend.
