View Poll Results: Would going back to the gold standard work?

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  • Yes

    4 16.00%
  • No

    17 68.00%
  • Maybe/Other

    4 16.00%
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Thread: Would going back to the gold standard work?

  1. #1
    Advisor polisciguy's Avatar
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    Would going back to the gold standard work?

    Explain your answer as well, please.
    Be skeptical of anyone who wears a political label - party or ideology - with pride. Most of our problems are because people love to "debate" (it isn't debate, but they pretend it is), but are not interested in developing solutions. Solutions require empathy, thought, and compromise, and most folks aren't interested.

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    Advisor Morrigi's Avatar
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    Re: Would going back to the gold standard work?

    The only thing keeping the world from doing so is America. Nixon basically told everyone and their gold to collectively **** off and it's gotten worse from there. In fact, countries attempting to base their currencies and/or exports off of anything aside from the U.S. Dollar are having a growing pattern of their plans being....terminated. Especially in the Middle East.

    So going back to the gold standard would work, but the U.S. would have to drastically change their policy and/or lose the military might to back its current one up.
    Sic semper evello mortem Tyrannis

  3. #3
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    Re: Would going back to the gold standard work?

    It would only fail again.
    I love the NSA. It's like having a secret fan-base you will never see, but they're there, watching everything you write and it makes me feel all warm and fuzzy inside knowing that I may be some person's only form of unconstitutional entertainment one night.

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    Re: Would going back to the gold standard work?

    Is there even enough to compensate for the amount of currency floating around? And, would going back to the gold standard result in confiscation and/or forced buy backs?

  5. #5
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    Re: Would going back to the gold standard work?

    Not a chance. If you back your money with gold, you have to have the gold. If you back your money with some sort of imaginary interest in the economy, you can print what you need when you need it.

  6. #6
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    Re: Would going back to the gold standard work?

    Only if you want to pay all your debts in gold.

  7. #7
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    Re: Would going back to the gold standard work?

    I put "maybe/other" because I support a "precious metal" standard. Gold would be the prime metal, but silver and platinum would have replacement values so we would never run out of gold to back our money.

    Dollars would only be issued on the amount of gold we had in stock to back each one, which means it would always have intrinsic value and people would not lose faith in it. This also reduces inflation because a finite amount of cash in the economic system increases it's value, whereas an unlimited amount results in inflation.

    Fiat cash only benefits investment banks, and corporate borrowers; keeping the wealthy happy and the common citizen less so. That's my two cents anyway.
    If I stop responding it doesn't mean I've conceded the point or agree with you. It only means I've made my point and I don't mind you having the last word. Please wait a few minutes before "quoting" me. I often correct errors for a minute or two after I post before the final product is ready.

  8. #8
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    Re: Would going back to the gold standard work?

    my guess is no.

    part of me is enamored with the idea, but i think there's no putting that genie back into the bottle.

  9. #9
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    Re: Would going back to the gold standard work?

    Quote Originally Posted by Helix View Post
    my guess is no.

    part of me is enamored with the idea, but i think there's no putting that genie back into the bottle.
    Awww come-on! Join us on the Light-side of the Force. You know you want to...avoid the Dark-side.
    If I stop responding it doesn't mean I've conceded the point or agree with you. It only means I've made my point and I don't mind you having the last word. Please wait a few minutes before "quoting" me. I often correct errors for a minute or two after I post before the final product is ready.

  10. #10
    Sage

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    Re: Would going back to the gold standard work?

    NO
    This is opinion based, as I have not all the necessary knowledge.
    By rights, I should not have voted.....but...
    I feel that the original decision, back in the previous century was good and necessary.
    Simply stated, we did not begin to have that much gold....so we had to use a "faith based" paper standard.
    Reverting will not work today..
    What we need is a better people....
    Last edited by earthworm; 08-09-13 at 02:21 AM.

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