Thread: The Gold Standard issue

when ron paul said that most americans would rather take a box with 2 gold coins than a box with a million dollars in paper money, i lost all respect for his argument, which i only respected in the first place because it was totally batshit crazy but he was willing to argue it on national television.

Originally Posted by sailor jack

when ron paul said that most americans would rather take a box with 2 gold coins than a box with a million dollars in paper money, i lost all respect for his argument, which i only respected in the first place because it was totally batshit crazy but he was willing to argue it on national television.

not to mention that most americans would probably rather have the million dollars... easier than having to liquidate gold. if the dollar was inflating by a factor of 180% per month like brazil's currency was in the mid 80's to mid 90's.

also where exactly is the gold going to be stored that must be accessible to people on demand when they wish to trade in their bills for gold? and as i said above, how will we prevent a gold and silver drain when people take america's gold out of the nation or when we conduct foreign trade? it'd result in an economic depression as the "fat" behind the currency was drained out, and hence less money can stay in circulation (or the conversion rate would have to be cut severely).

we could just not have the dollar float and control it like China controls the value of its yuan; how would that be any different at all from using a gold standard, aside from having the amount of wealth in the US be tied completely to how much gold the US posses?