You Must Be Logged In To Vote
Posted: Today 12:49:47 PM EDT
| Was the gold standard good or bad? |
|
It was good, but it's impossible to go back. Switching to fiat currency worked out much better for the government than the citizens. The government holds all the power, citizens bear all the risk, and wealth held as cash is guaranteed to lose value. |
|
It's great. The big limitation is that it precludes growing your economy faster than other fiat economies. Deficit spending within modest limits is sustainable and what you have to do to win the economic race, but deficit spending beyond those limits leads to what much of the world is dealing with now. That deficit spending is what allowed us to win two world wars and cause the soviet union to fail. Then we got greedy, the wheels came off, and that got us to where we're at today. |
|
What Has Government Done to Our Money? In ancient times China tried fiat currency... it failed... they went back to metal Crypto was designed to be a modern alternative to always depreciating paper currency. |
per aspera ad astra
|
Tying currency to a physical asset limits it by the limit of the physical asset. It is simple: grow the amount of currency by the amount our GDP grows. In years of contraction, withdraw some currency. There: now you have a stable currency. In fact, make this a law so that politicians and the FED cannot manipulate it. |
| Idk if our digital life is compatible with the gold standard, but I’d like to find out. |
"My gun fight is going pretty bad if it involves anything but super soakers at a wet t shirt contest" -Aimless
“3:50 from post to lock, who's the champ? Me, mother fuckers” -Aimless
“3:50 from post to lock, who's the champ? Me, mother fuckers” -Aimless