Well, we know exactly what happens when you 'inflate the currency" - which also happened under the gold standard, as well as devaluation of the currency.
Anyway, what we have now, is the most prosperous generation the world has ever seen, rapid upward mobility, huge amounts of leisure time...
Or we can go back to the gold standard, work for $1 a day and barely make enough to keep our families fed, while power is concentrated again in a few "trusts" and bankers.
And your paraphrasing is kinda off.... in meaning/content.
Quote:
Originally Posted by eric_t12
as far as the gold standard never working before,
what do you think happens when you inflate the currency, you're no longer on a STANDARD at all.
See: rampant inflation in the 1920s.
i'm not necessarily a gold-standard bearer, but there is definately a clause in the constitution about "not allowing anything but gold or silver as legal tender"...
Paraphrased of course...
maybe if we stopped paper money all together, there wouldn't need to be a gold STANDARD, cuz you'd have it in your pocket. silver too, if you believe what you read from that "antiquated document".
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03-17-2008, 12:02 PM
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