[quote=sdduuuude][quote=SDEngineer]
At it’s heart, any form of money is a fiat monetary system. Tying it to a commodity (like the gold standard) simply means that it inflates or deflates against the perceived value of that particular commodity, rather than the productivity of the nation as a whole (which I would think would be more stable than the perceived value of a single commodity). Certainly being on the gold standard wasn’t able to prevent the Great Depression, the bank runs in the early 1800’s, or any other historical serious depression/recession.
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I’m quite convinced you don’t understand free markets at all. Suggest you learn a bit before spouting off.
The difference between a gold standard and the one we have now is that a single individual can manipulate the current currency – a single point of failure by an unelected official and a truly authoritarian situation. Not even close to democracy.[/quote]
I’m quite convinced of the opposite, and have studied economics enough that I believe I do understand free market economies quite well, thank you very much. How much manipulation can a single individual really do? Please, enlighten me on how this can happen, and exactly how a similar effort could not undermine a standard tied to a SINGLE commodity. I am well aware that many conservatives consider this to be the case, but then again, many conservatives consider “trickle down” economics to be a valid theory as well.
