I really need you and everyone else to know that the gold Standard was holding down inflation. The massive wealth disparities we see now are because of the US dollar becoming fiat.
The quicker we return to a standard of any kind the quicker things go back to normal.
This is not their intent. They want ownership of property, not gold. Property is the only thing in true demand. And only the wealthy can afford it.
Instead of inflation, gold causes a financial crisis just because its price fluctuates. That’s not better.
Edit: typo correction
It’s price only fluxuates based on availability, and we’re on a finite planet. The real problem would be environmental regulations regarding gold recycling at that point.
We just discovered possibly the largest deposit of gold ever, just a few days ago. You could not have picked a worse time to push for a gold standard
Man, gold bugs are dumb as shit, aren’t they? I haven’t run into them in the wild very often since cryptocurrency took off, but the Ron Paul brigade used to be all over. At least tankies agree that the means of production ought to be seized by the workers (however bad they are at working towards that goal in practice).
That is not how mineral wealth works.
Do tell me how you get infinite gold.
Irrelevant. Gold has a use, and we haven’t dug up all of it. Its price would fluctuate like any other mineral. Practical asteroid mining would crash the entire economy, but even without, gold used for any practical purpose besides money would put pressure on the demand curve that’s never the same from day to day.
We also had more regular and much bigger recreating during that time. I’ll take a little inflation over wrecked economy every few years. Wages can increase to match inflation. Mass unemployment isn’t as easy to fix
I would agree with you, but then we’d both be wrong.
I mean I can give you the charts that show the split happens right around the time Nixon ends the gold Standard in 1971.
Yes, that Nixon.
