(Kitco News) – Recently pardoned by the U.S. President Donald Trump, former media mogul Conrad Black is proposing that Canada should go back to what can only be described as a partial gold standard.
In his new book, titled The Canadian Manifesto: How One Frozen Country Can Save The World, Black argues that if Canada wants to realize its “true potential,” it needs to develop its “arts of government” and revolutionize welfare, education, healthcare, and foreign policy sectors.
One of the more controversial proposals Black throws out is for Canada to tie its currency to gold, oil, and inflation. “If Canada wants to be big it has to think big,” Black wrote. “The sensible and imaginative course is to reinvent hard currency.
Canada should tie the value of its currency to a combination of the prices of gold, oil, and a consumer shopping basket in equal thirds.”
Some other ideas of how Canada can respond to the “bell of opportunity toll[ing]” and “lead the world” included lower taxes, deregulated securities markets, and more open capital flows.
For the rest of this article: https://www.kitco.com/news/2019-05-28/Conrad-Black-Canada-Should-Embrace-Partial-Gold-Standard.html