What's so great about the Gold Standard?

I'm not talking about any receipt standards. That is just something you recently brought up.

Please show me where it exists than we will talk about how successful it is, thanks!

Already proven. It is not my fault you stick to your ignorant ideology regardless of facts.

Yes, this would destroy the country... which is why we don't do it. Unfortunately you don't care about the country.

 

Depends on how you define "gold standard" and "suspended".

The word "fiat" was not in your source.

You owe an apology to me, Iriemon, snooop, to all the mods, all the financial contributors in the history of pf.com, and to anyone youve ever insulted in your life who has possibly had irreversable psychological damage. You've got a lot of nerve asking for an apology for an argument which you continuously fail so hard to support.

 

Please provide me a source that says specifically, USD was not fiat between 1934-1971. Otherwise apologize... thanks. And you, Snoooop, and Iriemon are on the list of some of the most embarrassing "thinkers" I have ever come across. It's funny how you three share the same ideas!! Embarrassing. In the real world you guys would have to write letters to the University apologizing and begging to come back to class.

I see you are not a huge fan of facts. Just like you claiming banks don't create money, banks need reserves to make loans, gold standard is better than fiat, more money can't lead to more growth, etc.

These claims are beyond ignorant. Please apologize!

 

Progressives ended the gold standard and continue to wreak havoc on ALL economies with central banking and fiat money.
History has proven that the citizenry has a higher standard of living during the "gold standard" years, more individual liberty and less government intervention in their everyday lives... I'm all for that!

http://mises.org/daily/377/Money-and-Freedom

 

Troll comment, not even worth addressing.

I see you've resorted back to this comment that has already been debunked repetetively throughout the thread. Once you've been proven wrong, you resort back to your intial faulty axiom, like a broken record. It's one of your many troll tactics.

It was not proven. If it was, you would have had no trouble providing me with a credible source when I asked for it.

LOL. What facts? I asked you for them and you didn't provide them!

How so?

That's not the reason we don't do it. You've already been informed why our government forces fiat currency by multiple people.

Troll comment, not even worth addressing.

 

The burden of proof lies on you to provide a source that says that the dollar was fiat between 1934 and 1971. You have failed to do so.

I see that instead of doing the honorable thing and apologizing, you've chosen to hurl more insults....especially in the absence of snooop and Iriemon, who are not active in this thread to defend themselves from your slander.

I never said banks don't create money. I said they don't create money out of "thin air". Stop mischaracterizing my position.

That's not what that discussion was about. You said that banks don't need reserves period. When asked by Iriemon to provide proof, you resorted to insulting him.

Already proven in post 125.

 

Could you convert a dollar for gold between 1934-1971? Please apologize

They'll live

You are a liar, you said it many times.

I never once said banks don't need reserves period. I said they don't need reserves to make loans. The amount of lying you do is mind boggling!!

What you consider proven is just more lies.

 

US gold certificates were removed from circulation in 1933.

You just seem to deny the truth.

 

Actually that is Dr. R who is denying the truth, lol. I agree with you.

 

Forbes is predicting a return to the gold standard within five years...


Such a move would help to stabilize the value of the dollar, restore confidence among foreign investors in U.S. government bonds, and discourage reckless federal spending, the media mogul and former presidential candidate said. The United States used gold as the basis for valuing the U.S. dollar successfully for roughly 180 years before President Richard Nixon embarked upon an experiment to end the practice in the 1970s that has contributed to a number of woes that the country is suffering from now, Forbes added.

http://www.humanevents.com/article.php?id=43439

 

You all type too much to keep up.

 

Why in the world would we ever return to the gold standard? Foreign countries have trillions of American dollars. They would take our gold instantly... lol

 

Not if the US defaults.

 

So you say the Govt should default on all it's debts and then return to the gold standard? Lol!! Talk about self destruction.

 

It wouldn't be the first time... every time the US turned to fiat money... it failed. Just like everywhere else.

http://mises.org/daily/5463

 

This does not mean the gold standard wouldn't fail also

 

The best thing about the gold standard is that it shows how ignorant and stupid Ron Paul and his band of morons are concerning money, growth, world banking and economics.

A real numbnutz.

 

It is true!! It's awesome seeing all the nut jobs coming out of their bomb shelters to talk about the shiny magic metal that makes everyone better off, lol!!

 

When has it even come close to failing... in the millennia of gold a a form of money? It's a commodity, how would it fail? Even if a solid gold asteroid hit the earth and increased the volume of the metal it couldn't fail.

 

You are confusing an economic system with the supply and demand for a commodity. Just because gold exists after society collapses doesn't mean gold was successful as a medium of exchange. The gold standard was a destructive force of nature to countries during the Great Depression. It will never in the history of America or the world be used again, that is how bad it is for the economy and society.

 

Societies don't collapse... governments do. Usually due to inflating the money supply.

 

Govts represent society. So if society created Govts fail, so does society. And they fail for plenty of reasons outside of inflating the money supply, lol.

 

Governments are parasites that thrive on the economic production of a society through coercion.

Government is unnecessary.

Look at the historic failure of government... it's most often through a failed economy.

The US is on the brink... thanks to central banking, fractional reserve banking and fiat money.

 

Show me a society that exists today that doesn't have a Govt. Thanks!

If people were so organized and efficient why would they ever need to create a Govt?

 

People didn't "create" government. Government took over through force.

If you would like to see information on anarchic societies... Google it.