RE: If paper money was banned & silver & gold came back, what would happen?
February 28, 2015 at 6:10 pm
(This post was last modified: February 28, 2015 at 6:13 pm by CapnAwesome.)
The arguments of those in favor of a gold standard is funny. It's true that paper money only has the value that we imagine it to have, but gold is exactly the same. Gold is only valuable because we believe it to be valuable. So it's not really that different, except for one important thing. There is a limited supply of gold. The amount of goods and services we have now far outstrips the total value of gold on the planet. When that happened the need for a fiat currency overcame the stability provided by the gold standard.
Nobody other than Ron Paul zealots believe this to be a good idea.
(February 25, 2015 at 8:54 pm)Minimalist Wrote: He's probably a Ron Paul fan.
Nobody other than Ron Paul zealots believe this to be a good idea.