11-30-2016, 08:39 AM
That's a very good point, thanks for making it. Lets talk about this "gold standard". How did that work? Was that a market driven price, or a government determined fixed rate? If the government fails at fixing the price of gold, how can they be effective in fixing the price of money?
This was the point I was attempting to make.
There are other inflationary factors here, which the fed is responsible for - having nothing to do with the gold standard. Precisely, interest rates (the price of money), and the fed has been a complete failure in that regard as well.
Dont get me wrong, I'm not trying to argue that a true gold standard, strictly based on market value, would be a perfect solution. What I'm trying to say is that the market will be much more honest and accurate than the politician's and their friends, and there will be less control to be exploited by the criminals that are typically elected into office.