Ron Paul praises the Byzantine Empire for its gold standard:
The bezant, however, was minted by.. the Byzantine Empire. For ten centuries Byzantine coins were accepted all over the world, and Byzantium dominated trade for thousands of miles in every direction from Constantinople. Even the royal accounts of medieval England, says Dr. Sutton, were kept in bezants. The Byzantine Empire only declined when it debased the bezant, adding more cheap alloys and removing gold.
I know some folks who must have been absolutely orgasmic upon reading this.
"The Byzantine Empire only declined when..." Oh boy. That kind of reminds me of when I was listening to the Dobsonista radio station one Thanksgiving and the radio snake oil salesman was talking about how God cursed the pilgrims in their first couple of years because of their communal system of property and commodities sharing. Once they switched to a "free market" system, so the Dobsonista said, God began to bless them.