the most practical monetary standard?

[heavenlyboy34]

For our money gurus-

What is the best monetary standard-and why? (gold, silver, etc) Please provide literary references if you can. I just want to get a more thorough education in the subject.

Thnx,
HB34. :cool:

[Bradley in DC]

The best one is no governmental standard.

See Hayek's Denationalization of Money article, it's what made me an Austrian. The standard would be what the market decides (which is how we got a global gold standard in the first place): gold, silver, fiat, bancors, fractional reserve, 100%, whatever--it should be the market (not the politicians) who decide.

[hugolp]

The best one is no governmental standard.

See Hayek's Denationalization of Money article, it's what made me an Austrian. The standard would be what the market decides (which is how we got a global gold standard in the first place): gold, silver, fiat, bancors, fractional reserve, 100%, whatever--it should be the market (not the politicians) who decide.

+1

[Live_Free_Or_Die]

nt

[Gideon]

BUT:

Those whacky, revolutionary terrorists who signed that flawed Constitution, also created a document entitled:

The Coinage Act of 1792. (http://www.constitution.org/uslaw/coinage1792.txt)

If you have yet to do so, read it!

After you have read The Coinage Act of 1792, in it's entirety, please come back and share your own elaborate plan for a better monetary system.

[denison]

BUT:

Those whacky, revolutionary terrorists who signed that flawed Constitution, also created a document entitled:

The Coinage Act of 1792. (http://www.constitution.org/uslaw/coinage1792.txt)

If you have yet to do so, read it!

After you have read The Coinage Act of 1792, in it's entirety, please come back and share your own elaborate plan for a better monetary system.

they were wrong. ;)

let the market decide.

[Bradley in DC]

BUT:

Those whacky, revolutionary terrorists who signed that flawed Constitution, also created a document entitled:

The Coinage Act of 1792. (http://www.constitution.org/uslaw/coinage1792.txt)

If you have yet to do so, read it!

After you have read The Coinage Act of 1792, in it's entirety, please come back and share your own elaborate plan for a better monetary system.

Gideon,

On the one hand, I applaud the substantiveness and content of your post. More broadly, yes, the constitution permits some monetary interventionism just as it allows for a government monopoly for the postal service.

On the other hand, I think private companies (FedEx, UPS, etc) do a better job getting packages delivered at a better rate with more of a concern for my privacy than the USPS does. Similarly, the legal monopoly of money issuance option should not be exercised--let the market handle it.