[quote=markmax33]
You keep missing the point. Under the gold standards there will be short term downswings when industries become obsolete. We are accepting that under Austrian Economics. You could fix the current dollar to the current value of gold and audit the fed properly and reestablish a gold standard over night. It’s not that hard. The price of gold might go up though![/quote]
No, you keep missing the point. Fixed-exchange rate currencies always fail, so there is no reason to go back to the gold standard or any other type of fixed exchange rate.
Essentially, you are living in a fantasy world where a fixed exchange rate to gold fixes all our problems. It doesn’t. Please cite to one time in history where a fixed-exchange rate currency did not fail.
