13 CURIOUS ERRORS ABOUT MONEY

We as a nation, according to Paul Bakewell, Jr., are headed for trouble, trouble which began in 1934 when, from a gold standard, the government of the United States went to a managed currency. Not only has this ""managed currency"" made possible the greatest inflation in our history, claims the author, it is also symptomatic of a great and stealthy danger to the American people...""who oppose Communism must necessarily oppose Socialism and all other forms of government of absolute power. If they want freedom and a government of limited powers, they must abolish a managed currency and recover the right to own gold."" Some of the errors which Mr. Baker well holds are beclouding the issue for the public: that gold is in some way connected with paper currency, that we have a gold reserve for the currency we use and for bank deposits, that gold is not necessary to maintain the credit of a government, that under our Constitution the Federal government has the power to control gold. Mr. Bakewell admits that he is neither economist nor writer.