Don’t you realize that all of this talk of M0, M1, M2, M3, etc., is all a charade to obfuscate and over-complicate the issue of a fiat monetary system versus one that is backed by tangible assets, such as gold and silver?
Every single one of them would exist in a monetary system that is backed by tangible assets. St Louis Fed web site offers downloadable series of M1, M2, and M3 going back to 1959. United States officially gave up on gold standard in 1971.
Yes our modern financial system is complicated. That’s the way of life. If you want to simplify things, going back on gold standard is not sufficient, you need to abolish fractional reserve banking.
I think the underlying point here is that paper (fiat) money should be backed by tangible assets such as gold and silver, rather than be printed out of thin air.
Money should be backed by the fact that sufficiently large numbers of peple are willing to accept this money as payment for goods. That’s the best way. What backs tangible assets? Does a gold coin have as much intrinsic value as 300 gallons of milk? Or is it simply that people trust gold just like they trust dollars?
Also, if printing is a problem for you, is gold mining a problem as well? With printing, you have a transparent government agency that controls your money supply and hopefully does not expand it too much. With gold mining, you have numerous private enterprises continually bringing potentially random amounts of gold on the market. What’s better?
