Go back to gold standard
In response to Gavin McCrone (Debate & Opinion, 2 February), the way to ensure a financial crisis does not happen again is not to have the government regulate the economy further but to return to an objective standard which does not allow the state to spend recklessly and to debase the currency: gold.
It is not true that banks and big business necessarily support capitalism. Banks are quite happy to accept the existence of a central bank such as the Federal Reserve or the Bank of England, as it allows them to inflate the currency and lend with impunity. The current bail-out of failed banks is proof enough of that.
What is needed is a balanced budget, the scrapping of central banks and a return to a free banking system, such as Scotland enjoyed for two centuries – the longest period of free banking in history.
BRUCE CRICHTON
Victoria Road
Falkirk, Stirlingshire
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Monday 28 May 2012
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