Quote Originally Posted by Mr. E View Post
Being a slave to the dollar isn't a bad thing though. Commodity money is impractical and imo would be even less stable than the fiat currency most of the world uses (especially in times like right now).
The problem with the gold standard idea is there isn't enough physical gold for our modern day population. Cash money is nice because it is easily portable, easily recognizable and legally accepted for any debt public or private. The problem comes when they print more money than the market truly needs (due to saving or investing in treasury bonds by banks.. why not take that .25% loan and buy guaranteed 2% treasury bonds?) and even worse if that agency responsible has little actual government regulation. Don't be fooled, folks - the Federal Reserve is a private company, authorized to exist by Congress, but it is not authorized by the Constitution and other than their charter being approved by Congress, they have basically no government oversight.