The Gold Standard: For or Against?

[Wickerman]

I am not sure the standard should be gold, but it should be something concrete.

[Hess]

If they were to back currency with gold, the price of gold would be many multiples higher than now.

Indeed.

If we were to return to a Gold standard, Gold would have to be revalued with a reasonable exchange ratio between an ounce of gold and a dollar/yen/ruble/etc., which would have to be set by the market.

That's what i think of it

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

here's a simple and effective rebuttal to Bernanke by James Rickards

the quantity of gold is never an issue; the issue is one of price. There are approximately 31,000 metric tons of gold held by central banks today and another 130,000 metric tons in private hands. It is true that if this gold were valued at the current market price of about $1,650 per ounce, a money supply of equivalent value would be far less than the current money supply. This would be highly deflationary and probably result in a contraction of world trade and gross domestic product. However, the same quantity of gold valued at, say, $10,000 per ounce would support today's paper money supply at a reasonable ratio of gold-to-paper in line with historic gold standards.

[Horseman]

The Gold Standard, or printing money under the pretext of high prices of propertys or the need for economic recovery, are the two extremes. Neither one nor the second is not good. The Gold Standard makes the banks have too little money to credit and the economy slows. The rules currently used by banks, or rather lack of any rules in danger of collapsing the entire system. What is better?

[Anarch]

The Gold Standard, or printing money under the pretext of high prices of propertys or the need for economic recovery, are the two extremes. Neither one nor the second is not good. The Gold Standard makes the banks have too little money to credit and the economy slows. The rules currently used by banks, or rather lack of any rules in danger of collapsing the entire system. What is better?

The gold standard is infinitely superior. Banks that hand out easy credit bring on malinvestments that aren't backed by real money. When those malinvestments fail, interest rates jump to compensate for the losses to creditors, driving the rest of the productive economy into the ground. Stimulus spending is just more easy credit, the root of the current economic crisis.

To answer the thread: Of course I'm in favour of the gold standard. It strips power from bankers and governments and puts that power back in the hands of productive individuals, where it belongs.

[skullnboner]

Fools Gold

http://skullnboner.wordpress.com/201...ional-economy/

[Peyrol]

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

We have the 3rd largest global gold reserve, so yes.

[skullnboner]

I think it's time some of you got a basic education on just what money is, it's only purpose and what it is/should be truly based on:

“The Money Myth Exploded” was one of the first articles of Louis Even, and remains one of the most popular to explain how money is created as a debt by private banks. It is available in the form of an 8-page leaflet (tabloid format) that you can order from the “Michael” office, in several languages: English, French, Spanish, Italian, German, Polish, Portuguese.

http://www.michaeljournal.org/myth.htm

[Hess]

Fools Gold

http://skullnboner.wordpress.com/201...ional-economy/

This is not a discussion of absolutes. Gold clearly isn't perfect, but it seems to be better than the FIAT money we have right now.

[Quorra]

Anonymous polls are gay.

[skullnboner]

Mike Montagne has a perfect understanding of the purpose and proper utility of money. You must take the time to learn what it is he is imparting and how it will work for the betterment of humanity (forget about the mainstream ideas and propaganda spouted about it. Those are all mouthpieces for different angles on the scam built on the foundation of ignorance about the true function and representation of money):

http://www.perfecteconomy.com/

Mike's youtube channel--Mathematically Perfected Economy PART 01A - INTRO:
http://www.youtube.com/watch?v=FtwMkIssuUQ

Here is another channel from one of many affiliated supporters of MPE:
http://www.youtube.com/user/chotaboy66/videos