The precise purpose of reserve type banking systems is that the value of the 'notes' can be changed. You view that as a failure but that is their basic purpose. I don't know how the present stagflation predicament will be fixed, if it can be fixed... but I'm quite sure it won't be with gold.
The price of oil is what's driving most things these days... or preventing things from moving forward... depending on where you are. The Canadian dollar has basically turned into a petro dollar in the last 10 years because of the amount of trade generated through what flows from McMurray... The downside is that the cost of oil is killing the rest of the country that doesn't share in that oil boom.
You should read about the Federal Reserve system and other relevant banking information... from a source other than the right wing/bible thumping/conspiracy theorists who are still living in the Victorian era. The Fed's own website has a fair amount of information on the purpose and function of the Fed...
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Today's Featured Article - New Hitches For Your Old Tractor - by Chris Pratt. For this article, we are going to make the irrational and unlikely assumption that you purchased an older tractor that is in tip top shape and needs no immediate repairs other than an oil change and a good bath. To the newcomer planning to restore the machine, this means you have everything you need for the moment (something to sit in the shop and just look at for awhile while you read the books). To the newcomer that wants to get out and use the machine for field work, you may have already hit a major roadblock. That is the dreaded "proprietary hitch". With the exception of the
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