We can forget about a gold backed currency in my view and I say...

We can forget about a gold backed currency in my view and I say this because as it is becoming ever more obvious to more and more people, it would appear the system of economic growth under which we have operated for the past xxx years, is reaching its "use by" date.

In that respect in my view, mankind is going to have a much bigger battle on his hands than deciding on whether a currency is or is not backed by gold.

You see global warming and the direct impact on our civilisation is in my view beyond any doubt. The science over many, many years has proven this adequately. Mankind is however faced with the decision to leave things as they are, that is attempt to make an already broken economic system work and do nothing about our global ecological problem until it is simply too late (not an option).

OR

Begin implementing wholesale changes now in order to at least have some hope of creating a more stable global environment moving forward (best option). This option is indeed going to be extremely expensive, messy and challenging but very necessary.

Remember we live on a planet with FINITE resources (key resources being; food, water & suitable agricultural land) of course there are the other soft & hard resources too. Yet man is trying to defy the laws of maths, physics, chemistry and bioligy to achieve INFINITE economic growth.

In my view we will in the near term be saying farewell to oil, coal & uranium and indeed making way for alternative/renewable energies that can and will be sufficient to meet the energy needs of this planet once we've undergone the massive change that is coming.

Take some time to think about your own life; has it improved over the past decade or so, or has it remained the same or has it declined. I'm betting most if they're completely honest with themselves, will say the latter is the answer. This is as strong an indicator that our ecomonim growth is in reality uneconomic growth?

So I see no real place for a gold backed currency, it ceased many years ago and there it shall remain in my view. Man is going to have much bigger fish to fry and it's going to have to be a global effort so it'll take the energy of all the world's major economies.

It's coming folks, better to be prepared than in denial...

WC8