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Should the United States return to the Gold Standard?
in United States

By PoguePogue 504 Pts
Should the United States return to the gold standard? The gold standard I am talking about is the system by which the value of a currency was defined in terms of gold, for which the currency could be exchanged.

The gold standard was generally abandoned in the Depression of the 1930s. 
  1. ?

    5 votes
    1. Yes
        0.00%
    2. No
      80.00%
    3. idk/idc
      20.00%
I could either have the future pass me or l could create it. 

“We are all born ignorant, but one must work hard to remain stupid.” - Benjamin Franklin  So flat Earthers, man-made climate change deniers, and just science deniers.

I friended myself! 



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Arguments

  • AmpersandAmpersand 361 Pts
    Not linking money to your gold supply allows a wider range of options for how you deal with monetary policy (e.g. print more money to reduce interest rates during a depression which would raise demand and help spur growth).

    Economic experts also near unanimously say returning to a gold standard wouldn't be helpful, see http://www.igmchicago.org/surveys/gold-standard for an example.
  • MedicMedic 163 Pts
    amp is right, fiat just has far too many advantages

    Under a system of perfectly free commerce, each country naturally devotes its capital and labour to such employments as are most beneficial to each. This pursuit of individual advantage is admirably connected with the universal good of the whole. By stimulating industry, by regarding ingenuity, and by using most efficaciously the peculiar powers bestowed by nature, it distributes labour most effectively and most economically.


    - David Ricardo

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