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Fiat currency has come and gone many, MANY times throughout history. Today is no different. Fiat currency is a flash in the pants fad similar to velcro sneakers or disco.
would you care to recount for us just how stable the American economy was on the gold standard?
how many bank runs/crashes/depressions were there then as compared to post 1971?
would you care to recount for us just how stable the American economy was on the gold standard?
It limits the amount of 'paper' printed to keep inflation in check. as it stands now, there is no Gold Standard and Obama is just printing money like Kinko's...what will back it up? our souls? flesh and blood?
That's right. When gold declined a year ago, it still stayed ahead of the Dow. The sheep like looking at their wealth in nominal terms, which is probably why they've been hoodwinked into the dot bomb and housing boom.
The only time there was a "crash" was 1980. Do you think Bernanke will raise rates to 20% or more? If he does, I'll eat my sneakers.
Whoever we sold all of our Gold reserves to is a moot point. my question is will we ever get back to the Gold Standard ?
You dont need a gold standard.. but I think you could make gold and silver currency as per the constitution and make it a option over the federal reserve system. Lets see which one is stable and which one holds valve.
No reason to get rid of paper trust money but make the paper trust money EARN its trust. Audit the FED and see if you notice anything.
Like you could go to a different place that prints money that is actually backed in GOLD!!!!
It limits the amount of 'paper' printed to keep inflation in check. as it stands now, there is no Gold Standard and Obama is just printing money like Kinko's...what will back it up? our souls? flesh and blood?
maybe
4, that limit can be as dangerous as the current printing money fiasco.
when an economy grows beyond the gold reserve held by that nation, you have the exact opposite problem that we now have. Deflationary forces are as dangerous if not more dangerous than inflationary forces.
in a small economy a gold standard can be a protection. however at a certain point, a gold standard becomes a fiat economy backed by gold.
You dont need a gold standard.. but I think you could make gold and silver currency as per the constitution and make it a option over the federal reserve system. Lets see which one is stable and which one holds valve.
No reason to get rid of paper trust money but make the paper trust money EARN its trust. Audit the FED and see if you notice anything.
Like you could go to a different place that prints money that is actually backed in GOLD!!!!
Gold and silver money will have one of two problems. Either the government will have to control the price (problem one)
or the value of the coin cannot be established as it will fluctuate. (problem 2)
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I don't think so...
