From Next Steps for FTPL:
No gold standard has ever backed its note issue 100%; and none has even dreamed of backing its nominal government debt 100%. If a government had that much gold, there would be no point to borrowing.
|Start with the debt problem, three views of it,
and the most important thing. Here's a longer look at the debt problem.
Here's a short one on economic policy, some surprising trends, and a few unusual policy recommendations.
How'd we get into this mess? Read Policy Venn and Policies of the Venn Overlap.
Still with me? Read A Matter of Life and Death. And for an overview, download my 12-page PDF