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truthspeaker
08-27-2012, 08:29 PM
h xx p://www.businessinsider.com/why-conservatives-like-the-gold-standard-2012-

<<Naturally this minor bone being tossed to the party's gold wing has been the subject of (well deserved) mockery.
Paul Krugman said in a post that the gold standard would destroy the economy, and he pointed out that under a gold regime, the US had financial panics in 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, and 1933.
In The Atlantic, Matthew O'Brien wrote that the the gold standard could be shown to be the 'World's Worst Economic Idea' in just 2 charts.>>

heavenlyboy34
08-27-2012, 08:47 PM
Defeated 10,000+ years of history in 2 charts, eh? :rolleyes: lol

TheTexan
08-27-2012, 08:53 PM
It used not to be called "the gold standard." Not so long ago, it was just "the standard"

James Madison
08-27-2012, 09:03 PM
Defeated 10,000+ years of history in 2 charts, eh? :rolleyes: lol

Try 100 million years of evolution. :eek:

Natural Citizen
08-27-2012, 09:03 PM
For some reason the link doesn't work so i can't read the article from the op. But my impression is that real money is debt free. Correct? Meaning it's not a loaned note like the dollar. Does anyone have any idea what the size of the economy in real dollars and cents is? My guess is that it's bigger than any gold, silver or any other metal could possibly support.

Erik L
08-28-2012, 09:46 PM
My guess is that it's bigger than any gold, silver or any other metal could possibly support.

If you mean that "there isn't enough gold to run our currency system" then that is a common misconception. Basically, value is subjective - if no one can get their hand on enough gold (or notes 100% backed by gold) to make transactions, the value of gold simply increases (which is fine since a metal like that is easily divisible into smaller pieces). Any amount of currency is sufficient.

Again, if that's what you meant, mises.org's gold standard articles have some much better explanations than me.