Gold Standard

[FUCK THE POLICE]

Thank you for this post. I not know of this standard before this. I will ask persons who know more about this than myself and study this to.

From what I read, USD was pegged to gold. Is this right? That gold made USD valuable? I do not know if that true. Maybe before times, but I do not believe true now. People trust government who back the money. Where I am from we do not have own money, only USD. Many countries like mine.

Very good topic you bring. Do you have college education?

Gold is like training wheels for a currency, it's pointless to continue once people inherently trust in its value.

 

[FUCK THE POLICE]

Actually it makes perfect economic sense. It makes very little sense to statists and lovers of big gobblement because the gold standard restrains gobblement spending.

Under the gold standard if a gobblement is doing to print currency, it must have sufficient amount of gold to back it up. I can't even imagine where we would store the gold reserves to back up all that the Fed has printed

Under the statists vision of the money supply, the taxpayer is the reserve backing up their printing and spending needs

The full faith and credit of the USA is based on its ability to tax

And of course idiot economic illiterates like Skidmark thinks we just need to "tax the rich". Well the reality is that we could tax the top 1% at 100% and it would barely fund Medicare for three years. That's it. That is all that is there

Maybe if skidmark spent more time reading an economics book instead of jerking off to gay anime porn he wouldn't be such a worthless dumbfuck.

How I pray that he gets eaten by an alligator

Again, rightists repeat their canard of claiming that there's rampant depreciation without showing any evidence of such, even in face of the fact that no sensible metric of inflation shows such (and inflation is how you measure depreciation).

"Devaluation" here is, btw, a misnomer because you cannot devalue a currency in a non-fixed exchange rate regime. Floating currencies depreciate according to market forces, they do not "devalue". I am just going to do him the favor of beginning to use the correct term in order to counter his ignorance.

 

[canceled.2021.1]

Again, rightists repeat their canard of claiming that there's rampant depreciation without showing any evidence of such, even in face of the fact that no sensible metric of inflation shows such (and inflation is how you measure depreciation).

"Devaluation" here is, btw, a misnomer because you cannot devalue a currency in a non-fixed exchange rate regime. Floating currencies depreciate according to market forces, they do not "devalue". I am just going to do him the favor of beginning to use the correct term in order to counter his ignorance.

So answer this question. Why is it illegal for us as citizens to just print US currency? Wouldn't it just be easier for me to print out $100 bills? Why is it illegal for me to just print money?

 

[Leonthecat]

So answer this question. Why is it illegal for us as citizens to just print US currency? Wouldn't it just be easier for me to print out $100 bills? Why is it illegal for me to just print money?

ILA is determined to demonstrate his profound stupidity at every opportunity. Lol.

 

[Celticguy]

It is implausible to return to a gold standard from where we sit at this time. No way the population would accept that massive a scaleback. You would have to have a collapse. Don't think it opens you to manipulation nearly as much as what we have now.
It may be impossible as there is far less gold available due to its use in manufacturing. You may have noticed a greater interest in recycling tech stuff. There's gold in them thar cell phones and it's becoming viable to recover it.