The Gold Standard: For or Against?

[Hess]

Do you support a return to the gold standard? Why or why not?
I am interested in both Europeans' and Americans' answers.

[SilverKnight]

It should be the standard. The dollar was created by it and that's how it should be traded for.

[Osprey]

Yes.
Its real.
Otherwise, you'll soon see 0 Dollar notes running around.

[Hess]

Yes.
Its real.
Otherwise, you'll soon see 0 Dollar notes running around.

out of curiosity, what do you make of the "there's not enough Gold in the world for a Gold Standard" argument that Bernanke recently made?

[Sultan Suleiman]

I am more for combination of curency backing by gold and the economical/scientific/resource talent/pool of the currency's nation.

Because when we get mid core mining in few more decades, gold will be like mud.

[Osprey]

out of curiosity, what do you make of the "there's not enough Gold in the world for a Gold Standard" argument that Bernanke recently made?

That's what i think of it

http://www.thesilverjournal.com/brea...onomy/:coffee:

[Breedingvariety]

Do you support a return to the gold standard? Why or why not?
I am interested in both Europeans' and Americans' answers.

Currency is for trading, gold and silver is for saving.

Gold/Silver standard is not an economic reality, nor is it political decision. It is political acknowledgement of monetary value of gold and silver.

So I don't care if there is "gold standard" or not. Gold is valuable anyway. And it's never ending rise in currency terms confirm that. Because currencies never go up and gold never goes down in a long run.

[Osprey]

Currency is for trading, gold and silver is for saving.

Gold/Silver standard is not an economic reality, nor is it political decision. It is political acknowledgement of monetary value of gold and silver.

So I don't care if there is "gold standard" or not. Gold is valuable anyway. And it's never ending rise in currency terms confirm that. Because currencies never go up and gold never goes down in a long run.

Gold is steady.
Mined at a consistent rate.
Paper is just scary. The banksters can wave their magic wand and lo! the money is gone.

[Breedingvariety]

out of curiosity, what do you make of the "there's not enough Gold in the world for a Gold Standard" argument that Bernanke recently made?

He indirectly acknowledged how rare and valuable gold is. But really, there is enough gold and silver in the world. It is just the matter of price in currency terms. If they were to back currency with gold, the price of gold would be many multiples higher than now.

[Breedingvariety]

Very important note:- all paper/electronic gold is currency attached to the street value of gold. As such, paper gold, just like all currencies, is doomed to crash, due to defaults to deliver physical metal.