Was going off the Gold Stanard bad for America? why don't we go back on it or a system like it?
Was going off the Gold Stanard bad for America? why don't we go back on it or a system like it?
Was going off the Gold Stanard bad for America? why don't we go back on it or a system like it?
Not enough gold for all the value of good produced. Would become a deflationary currency which is worse than inflationary
shalom
Obviously. Having any form of currency which cannot be traded directly for any tangible asset is merely a israelites system of slavery.
The Gold Standard could be managed by post WWII USA because they controlled most of the world's supply and had the largest reserves.
However, as Europe stabilised and started to regrow, they started to recover their wealt, which meant the USA had to avoid them from acquiring gold, which ended up with some friction wihth their allies,
It also depended on any other countries not opening new gold mines, which was becoming ever more unsustainable, because the USA had to buy everyone else's gold to maintain the Gold Standard. Simply finding gold deposits made the dollar devalue, which was unstable in the long term.
The only way the gold standard can work in America or anywhere else is if goldsmithing became a totally nationalized It won't work with the bana republic justice system of America these days regardless though. If goldsmithing is in private hands, they can manipulate the currency which they historically have 100% of the time, regardless of the type of coinage or fiat, which isn't coming back globally. The whole of world economies will be in cryptographic tokens/coins and likely CBDC's specifically if people don't stop them. People are unfortunately retarded so stoping it seems impossible.
Let's say as a hypothetical if there is now a gold standard and goldsmithing became a nationalized industry, usury laws and currency laws and the like can actually be enforced by practical means. But it would require a complete restructuring of US society or any similar system. The majority of owners in the system, many of whom are international because of what the dollar has done globally, they all stand to lose much if the current system would become restructured at all. In short it would become much more difficult to use debt and barrow sums of money anywhere without exceptional credit (however it is or would be calculated) and at least some assets. It would benefit bougies more than anyone, which is why it cannot happen.
By owning assets and using their debt to avoid taxation, the current owners can profit greatly from the cycle itself of booms and busts, whether the dollar is up or down they make money on it. The political hegemony of the US exists solely to protect this and enrich asset managers who profit the most from it. There is no will to change it. The only handful of people who are vocal about changing this are delusional lolberts who will never, ever have meaningful political power in America. And if they did, they would fuck it up because they don't actually understand the value of government outside of their "theories" thst can only exist in a vacuum.
>why don't we go back on it or a system like it?
because if we did politicians wouldn't be able to print money to buy votes, finance their pet projects and aligned corporations, get more debt and take money form people through a covert form of taxation via currency dilution
>wouldn't be able to print money
do retards really think gold standard means no money printing/inflation despite the fact it did indeed happen in the past and the rate of highs and lows with the gold standard was even more chaotic
I think people would prefer the risk.
>people would totally prefer a system were the value of their money is even more unpredictable
Than having the fiat currency being loaned out on interest to the people, putting them in an endless system of debt? Yes.
>muh debt
so something that also existed when the gold standard was a thing, which would also be worse because again the value of money is even more unpredictable
You weren't in debt for using gold as payment. You are in debt automatically for using a fiat currency lent out by any modern bank.
no you aren't, most debt is still the traditional kind you would see back in the gold standard days of I can't pay for it now but I will be able to pay for it over x amount of time, only know its has an extra level of stability since its not reliant on one random metals value
Cope. Fiat is way more stable than gold back currency ever was. Its value changes with market forces rather than the market value of some random metal.
it also changes with whatever the fuck central banks feel like doing at the time
>it also changes with whatever the fuck central banks feel like doing at the time
No it doesn't. Monetary supply is created as needed, banks request loans from a central bank as a result of market forces effecting the monetary supply. There isn't a big red "fuck the economy" button at the Federal Reserve you reductionist dipshit
Because it’s retarded
>durr why don't we base our currency on an uncommon metal whose real value fluctuates constantly guys??? Shiny metal good! Fiat bad!!!
Libertarians like the gold standard. Libertarians believe any government is too much government. Libertarians hate and fear the Federal Reserve.
Neoliberalism likes fiat currency. Neoliberalism believes in useful government that acts appropriately to the demands at hand. Neoliberalism likes central banking.
Neoliberalism, much like libertarianism descends from classical liberalism, but the lessons learned are much different. Libertarians saw the failures of classical liberalism and doubled down. Neoliberalism saw the failures of classical liberalism and became pragmatic.
>pragmatic
Expedient*
Both are failed ideologies.
>Both are failed ideologies.
Is this why every major world power including "commie" ones like China have largely adopted neoliberal policy?
They have to when the global monetary system has been dictated by a single node that benefits from neoliberal policy.
Why do you think that is? Shouldn’t the commies be rich?
Literally every successful country is neoliberal or begrudgingly applies neoliberal policies
BACK TO BIZ homosexualS
GOLD STANDARD IS IN THE CONSTITUTION, END OF DISCUSSION.
/thread
BWAHAHAHA
>Was going off the Gold Stanard bad for America?
To the extent that it makes sense to talk about an aggregate interest for as large and divergent a group as America, yes, going off the gold standard was a net negative.
>why don't we go back on it or a system like it?
Because the US government as it currently exists does not have enough gold to back all the dollars in circulation at their nominal rate, and even if it assumed a new fixed exchanged rate based on the current price of gold, it wouldn't be able to finance itself with just taxation but not monetary expansion. If it tried, it would have to either lose its nerve and go back to fiat having achieved nothing except damaging the currency's credibility or hold its nerve and collapse under the weight of its expenses in excess of its tax revenue. Inflation is the unseen tax on holding dollars and dollar-backed assets like bonds, and without that tax the US government isn't solvent, even in the short term.
Or they could just stop throwing money at negroes and foreign israelites
And behold, the Nazi “libertarian” goes mask off
You act like that's a gotcha moment. Did you just come from plebbit?
OH wait that would require you people to be responsible for you own actions which cannot be done because ALL THROUGH OUT history you have to have a victim complex so bad that it PISSED OFF LITERALLY every country you resided in to the point where you RIGHTFULLY had to be genocided. History repeats itself, again.
Reminder to all posters itt trying to argue with the goldbugs in good faith - "Bring back the gold standard" is just a talking point, it has nothing to do with the actual historical policy. It's just a symbol about doing some vague but drastic changes to the economic system that the goldbug cannot comprahend and produce actual substantial critique of.