What's so great about the Gold Standard?

So there is no developed nation that exists today with out a Govt. Alright, got it!

 

And what point have you proven? That coercion rules and freedom is not to be respected because the government has more guns and laws?

Government has no purpose in society. Society rules the economy. Ergo government has no purpose in the economy.

 

I can tell your tin foil hat is on a little too tight for an intelligent conversation. So how about you just carry on with your anti-Govt theories and the rest of us will live in the real world.

 

Okay, you live in the "real" world and suffer economic catastrophe.

 

If this is an economic catastrophe than keep it coming!! I love all this crap I'm allowed to get with all these worthless pieces of paper!

 

Keep lovin' it then. Your depreciating fiat currencies have sent my gold and silver through the roof.

 

Good, you enjoy economic hardship... you'll love what the government has in store for you.

 

Awesome, you can now exchange it for worthless pieces of paper to buy all these cool gadgets America has.

 

Nope, that's how I save my wealth. The government can't devalue it through inflation and I can barter with it after the US dollar fails.

I don't need "gadgets," they have little value.

 

Lol! Sounds like you live a very fun life...

 

I do.

 

Yes.

For what?

Prove it. Post quote, link to thread and page #.

Now you are simply lying:

Please apologize immediately for calling me a liar!

I'll take that as an admission that you're incapabale of defending your claims and that you are just trolling.

 

He is not agreeing with you at all. He did not say that the dollar was fiat between 1934 and 1971.

 

So you are a foreign country?

I don't need to go far, just reading what you wrote below proves all I need.

Please show me where I said banks don't need reserves "period". Thanks. And apologize to me for falsely accusing me of lying. Thanks!

I use real sources, you have yet to use a single source to validate any of your claims and you are quite simply embarrassing yourself daily.

 

I see you didn't read the thread otherwise you'd realize how uneducated you sound right now

 

Don't put words in his mouth. Ask him if we were fiat between 1934 and 1971

 

US fiat currency began on August 15, 1971, with the elimination of the Bretton-Woods agreement.

 

Up until 1971 central banks could still exchange their dollars for gold!

PS the reason why Nixon got off the gold standard was because the US had this need to overspend.....on the vietnam war and on pork barrel spending.....and had central banks known this in the 1940's then the US dollar would of never become the reserve currency!

 

well this is true as I believe the euro was 30% backed by gold when it became the new currency but within a decade that partial backing collapsed!

 

if central banks can still exchange their dollars for gold then it means that the currency is still backed by gold!

 

Of course I have never said foreign central banks could not exchange dollars for gold up until 1971. The fact is American citizens couldn't and the dollar was in fact fiat.

 

All they did was change the pegged rate to gold whenever they needed to spend more money. The dollar was as fiat as it gets before 1971.

 

real people were suffering? Tell that to today's seniors that are watching their hard earned savings evaporate thanks to Bernacke and his monetization dance!

 

That is no where near comparable to the suffering that happened in the Great Depression. Way to make stuff up again!

 

incorrect.......if central banks had dollars in reserve either through trade surpluses with the US or just surplus dollars in their central banks they had the option to exchange for gold at anytime.....that was part of the bretton woods agreement!