Gold vs. paper money: Which would you rather have?

[credible2]

well, there was two central banks in the 19th century: the First Bank of the US and the Second Bank of the US.

[wendy2212]

What if they could make a coin that LOOKED like gold???

Look what they did with the US Quarter... It used to be silver. Then after 1964 they started making LOOK ALIKE's out of nickel and copper and zinc. Everyone treats them the same... but on ebay the silver quarters go for about 2.50 a piece.

[TheLegalImmigrant05]

This will happen if there is a state monopoly on the production of money, supported by force (like we have today with fiat money and legal tender laws)

Kings and feudal lords did the same. They first monopolized the coining of money (i.e. only allowed into circulation money with their face on it) and then diluted the coins, keeping real gold and silver to themselves.

Those in power always want to control money - in order to control everything else.

[spawk1993]

(im not a fan of fait currency ) but ....

A. the state cna still easily manipulate the money supply, unless their are 100 percent

B. the fed is our 4rth centeral banks

C. we didnt have a gold stanrdard through out all the time yous aid we did